NZD/USD: Kiwi could be in for a torrid time – ANZ

Market news

9 June 2023

NZD/USD: Kiwi could be in for a torrid time – ANZ

Kiwi price action remains defensive. Economists at ANZ Bank discuss NZD/USD outlook ahead of important data due out next week.

Next week is a big week

Next week we get NZ Q1 GDP and current account data. We expect tepid growth and an improved current account deficit respectively. Let’s hope we are right; if the former is soft or negative and the latter worsens, the Kiwi could be in for a torrid time.

Support 0.5750/0.5900/0.6085 Resistance 0.6365/0.6540.

See: NZD/USD to appreciate over 2023 as the US debt-ceiling deal gets through Congress – ANZ

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