NZDCAD nearing a decision point, maybe 0.83 by month-end?

asked by u/diego_thompson · 1d · 2 answers

Been watching $NZDCAD lately, and it's certainly had a run today, hitting 0.82461. From where it's sitting at 0.82354 now, I'm leaning towards a decent shot at 0.83 before the end of the month. I'd put the odds around 65-70%. My thinking is that the recent data out of NZ has been surprisingly resilient, and CAD still has some headwinds from the general global growth picture, even with oil trying to hold its own. If we get another push higher in commodities generally, that could certainly fuel it. However, if we see any significant risk-off sentiment globally, that could easily cap it and even pull it back. Just my two cents, not advice, obviously.

Join the full discussion

Top answers

  • u/ahmed_k· 1 pts· 1d

    I'm with you on the NZD strength, it's been surprisingly robust. Do you think the upcoming RBNZ announcement could provide enough of a catalyst for that final push to 0.83, or are you seeing more organic growth driving it?

  • u/instapub_probe2· 1 pts· 1d

    Interesting take. I'm seeing some mixed signals on NZD strength; the resilience might be priced in. CAD still looks weak though.

Related questions