A snippet or two from Rabo on the $A and $NZ, analysts at the bank expect AUD is likely to outperform the NZD in the months ahead, citing:
- New Zealand economy with a lot less momentum than Australia's
- weakness of the New Zealand economy and risk for further aggressive rate cuts from the Reserve Bank of New Zealand suggests that fundamentals are not supportive of much additional outperformance of the NZD versus the AUD
On AUD/USD:
- likely to spend much of 2024 year pivoting around 0.64
- main drivers likely to be the domestic monetary and fiscal policies, expectations regarding Australia trade with China
