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Inflation data in New Zealand released today disappointed investors, which led to a decrease of NZD / USD and although the pair is currently attempting to rise, sentiment remains bearish.
Westpac analists expects the New Zealand currency to remain under pressure as the situation in the economy of New Zealand will force the RBNZ to apply dowish signals and possibly to mitigate the monetary policy at the next meeting, which is scheduled for August 11th. Westpac expect a rate cut to 2.0%, as well as the fall of NZD/USD to $ 0.67 in the three-month term.
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