Constructive stance on NZD - Westpac

Research Team at Westpac, suggests that their process yields a constructive stance on NZD.

Key Quotes

“Our model score for NZD remains very upbeat thanks to NZ’s strong growth and yield credentials while our macro score for NZD remains positive too thanks to the strength in NZ construction and migration, higher dairy prices and elevated confidence readings. NZD’s technical condition is a drag on our overall NZD score though, leaving it below our threshold for a buy on dips.”

“Construction, migration, housing and agriculture remain very strong, confidence in most sectors is high or rising. The recent earthquake may affect GDP in the near term but reconstruction will boost medium term activity. The Trump effect has waned leaving NZD in a slightly positive state overall.”