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Jul 17 - 11:00 AM
AUD/NZD: Likely To Trade In 1.04-1.07 Range Over The Remainder Of 2019 - NAB
First appeared on eFXplus on Jul 17 - 09:15 AM

NAB discusses AUD/NZD outlook and expects the cross to trade in a 1.04/1.07 range over the remainder of  2019 with higher levels likely to be seen closer to year-end.

"The easing biases by both the RBA and RBNZ look to be well priced by the market and reflected in the AUD/NZD cross. Similar below trend growth outlooks for both antipodean economies point to a range trading environment while a softening dairy outlook vs a stable bulk/metals outlook suggest the cross has some upside," NAB notes. 

"We still expect the AUD/NZD to trade in a 1.04/1.07 range over the remainder of  2019 with higher levels likely to be seen closer to year-end. AUD is more sensitive to China’s fortunes, thus a new bout of US led trade tensions is a key downside risk for the cross. But upside risk in the event of good news in this respect," NAB adds. 

Source:
NAB Research/Market Commentary

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