NZD/USD: Break of 0.60 to bring on a wave of bearish sentiment – ANZ

Market news

4 August 2023

NZD/USD: Break of 0.60 to bring on a wave of bearish sentiment – ANZ

Economists at ANZ Bank note that the 0.60 mark is a key level to watch on the NZD/USD pair.

USD strength is again weighing on the Kiwi

USD strength is again weighing on the Kiwi, as are lower milk prices and AUD weakness in the wake of the Reserve Bank of Australia's decision to keep policy on hold this week.

Our forecasts call for a gradual firming from here, but if 0.60 were to break, that could bring on a wave of bearish sentiment.

USD Index treads water around 102.50 ahead of Payrolls

Silver Price Analysis: XAG/USD hangs near multi-week low, bears await a break below 61.8% Fibo.

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