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Oct 07 - 02:55 PM

NZD: RBNZ Running Out Of Dovish Tricks Near-Term; Where To Buy AUD/NZD - Credit Suisse

By eFXdata  —  Oct 07 - 12:00 PM

Credit Suisse likes buying AUD/NZD on further dips into the 1.0590-1.0650 area.

"RBNZ running out of dovish tricks in the near-term. The RBNZ delivered a small dovish surprise in its Sep rate decision by suggesting that it is willing to deploy a Funding for Lending program before year-end. Rate cuts and negative rates are well priced-in for next year, but in the short-term the potential for dovish policy surprises with likely FX impact is more limited," CS notes. 

"The AUDNZD correction may extend to the 1.0590-1.0650 area - at which point longs will be excellent value," CS adds.

Credit Suisse Research/Market Commentary


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