NAB Research discusses NZD/USD outlook and maintains a neutral bias in the near-term, but looks to higher ranger over the coming months. NAB sees NZD/USD around 0.67 in the near-term, and close t0 0.70 by year-end.
"The NZD continues to track within the 0.6650-0.6950 trading range it has been stuck in since early November, owing to conflicting forces. We expect more of the same as debate about the global economic outlook rages on,' NAB notes.
"As market participants debate the economic outlook, a tug of war on the NZD is operating, allowing the NZD to track sideways in a fairly narrow range. Until there is more clarity on the outlook, this state of affairs is expected to continue. As the year progresses, we see more positive influences on the NZD prevailing and a higher trading range emerging," NAB adds.