Westpac update the view on the New Zealand dollar: 0.69 mid-year target

A quick note issued on the NZD from Westpac, dated April 3

• The US dollar remains in a two-month old sideways range, which means further sideways ranging in NZD/USD is possible during the month ahead.
• Further out, though, we are bearish.
• The NZ-US interest rate advantage is rapidly shrinking and should eventually weigh, pushing NZD/USD towards 0.69 by mid-year

Earlier from NZ:

• New Zealand - ANZ Consumer Confidence for March: +0.2% m/m (prior +0.6%)
• New Zealand Government financial statement update: surplus larger than forecast

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And, earlier from Westpac, this time an updated view for the AUD:

• Westpac on the Australian dollar - lower but the pressure is mostly via crosses

Oh, and still on the AUD, plenty to come today:

• More for AUD traders - levels to be aware of for the session ahead
• AUD traders - heads up also for building approvals data today - preview
• AUD traders - heads up for retail sales data today - preview