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Jan 23 - 05:55 AM

AUD/NZD - NZD Bearish German Bank Eyes AUD/NZD Return To 1.10

By Richard Pace  —  Jan 23 - 03:35 AM
  • Deutsche bank research desk is bearish NZD and think AUD/NZD reaches 1.10

  • They note how NZD is propped by high rates and strong data surprises now

  • But New Zealand stacks up poorly vs other G10 countries on other metrics

  • They cite business and consumer sentiment, current account, valuation

  • Deutsche think support from high rates/strong data could fade

  • NZ rates have already compressed to global peers somewhat

  • Consumer spending looks weak, migration return could lessen wage pressure

  • NZD support from bond inflows could ease as rates moderate

  • They say foreign direct income could also melt away as recession unfolds

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Refinitiv IFR Research/Market Commentary


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