Back
6 May 2015
AUD/NZD sees further upside potential – ANZ
FXStreet (Barcelona) - The Research Team at ANZ note that the shift in perception towards AUD/NZD suggests there is further upside scope for AUD/NZD, and hence shift the stop-loss to their long position to 1.0495, locking in a 2.6% gain.
Key Quotes
“Perceptions in the market have continued to shift and are validating our view that the AUD/NZD was under-valued.”
“We think that regardless of the underlying strength in the employment details, the continued convergence between the unemployment rates in New Zealand and Australia is enough to shift perceptions and support the cross at higher levels.”
“Our expectations of a continued perception shift by markets have also been reinforced today by two market participants shifting their forecasts and calling for RBNZ rate cuts in 2015.”
“If perceptions continue to shift there is still value in being long AUD/NZD.”
“To reflect this we are removing our take profit level, and raising our stop to 1.0495, locking in a 2.6% gain”
Key Quotes
“Perceptions in the market have continued to shift and are validating our view that the AUD/NZD was under-valued.”
“We think that regardless of the underlying strength in the employment details, the continued convergence between the unemployment rates in New Zealand and Australia is enough to shift perceptions and support the cross at higher levels.”
“Our expectations of a continued perception shift by markets have also been reinforced today by two market participants shifting their forecasts and calling for RBNZ rate cuts in 2015.”
“If perceptions continue to shift there is still value in being long AUD/NZD.”
“To reflect this we are removing our take profit level, and raising our stop to 1.0495, locking in a 2.6% gain”