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Aug 13 - 06:55 PM

AUD/NZD: Looking For A Correction Towards 1.06 Near-Term - ING

By eFXdata  —  Aug 13 - 03:15 PM

ING Research flags a scope for a short-term correction in AUD/NZD towards 1.06.

"The resurgence of Covid-19 in the state of Victoria puts a dampener on what was looking like a “good” Pandemic for Australia. This will weigh on GDP growth in 2H20," ING notes. 

"New Zealand remains a rare Covid-19-free economy in a diseaseridden world. This may work in favour of AUD/NZD downside in the short term (to the 1.06 area) given the asymmetry in virus situations between Australia and New Zealand," ING adds. 

Source:
ING Research/Market Commentary

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