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Jul 07 - 06:55 PM

AUD/NZD: Move Higher May Be Delayed For A Couple Of Months - NAB

By eFXdata  —  Jul 07 - 03:00 PM

NAB Research discusses AUD/NZD outlook and maintains its targets at 1.09 in Q3 and 1.10 in Q4.

"Our AUD/NZD view has been one of near-term consolidation, following the plunge from parity, ahead of the next run higher, to at 1.10 by year-end," NAB notes. 

"The combination of COVID19 trends in Victoria and the increased Australian-China geopolitical tensions suggests that the cross is unlikely to move higher while these risks are in focus. In a couple of months, they could easily pass, so we are not changing our outlook for the cross but are monitoring the situation closely," NAB adds. 

Source:
NAB Research/Market Commentary

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