Free Trial

BNP Paribas Close AUD/NZD Long, But Still See Upside Potential

AUSSIE-KIWI

BNP Paribas close their AUD/NZD long for a 2.2% profit, but still expect AUD/NZD to trend higher over the medium-term and look for opportunities to re-establish longs.

  • They see the NZD as the most vulnerable to CB QE programmes, with AUD the second least vulnerable.
  • They also see the RBNZ and RBA contrasting in their approach to negative rates, further favouring AUD/NZD.
  • Weak global econ recovery could be a headwind to NZ recovery, while high iron ore prices, buoyed by China, remain supportive for AUD.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.