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- NZD/USD: Risk sentiment dominates – ANZ
NZD/USD: Risk sentiment dominates – ANZ
FXStreet reports that according to analysts at ANZ Research, the NZD/USD pair is set to be controlled by the risks coming from the Chinese economy.
"Disruption in the Chinese economy is already impacting New Zealand's exports, and this will likely cause a sharp near-term dent to GDP growth. If the virus is contained quickly, then a vigorous bounce back inactivity is expected. But a larger impact cannot be ruled out."
"We expect the RBNZ to keep the OCR on hold, but that they will highlight significant downside risks to the outlook - signalling that they will respond with more monetary stimulus if required."
"NZS/USD expected to be dominated by risk sentiment as NZD trades as a proxy for China risk. Markets will primarily be looking to gauge the RBNZ's responsiveness to emerging global risks."
"Support 0.6360 Resistance 0.6490"
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