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Flash: NZD/USD upside towards 0.82 possible on RBNZ – Westpac

FXstreet.com (Lisbon) - The NZD/USD remains consolidative, ranging between 0.77 and 0.82 during the past three months - the key event for the NZD this week is the RBNZ’s MPS, where a full set of forecasts is released, notes Imre Speizer at Westpac.

Key quotes

“The week ahead is busy with supportive NZ data so further upside is possible toward 0.82, Friday’s disappointing US payrolls report is also a near term boost.”

“Ultimately, much will depend on the path of the Fed’s QE program. If it does start winding down from next week, the NZD/USD could fall to the lower end of the range. Alternatively, if the Fed disappoints the taperists, then the NZD/USD could rebound to the 0.8400-0.8500 area.”

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