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This week, ANZ Bank has given its perspective on the currency pairs of AUD/NZD and USD/JPY.
ANZ predicts that the AUD/NZD pair will experience a stagnant New Zealand Dollar (NZD) in the coming week and advises traders to take advantage of buying opportunities during dips. While ANZ believes in a “buy on dips” approach, it highlights that the market’s expectations for the Reserve Bank of Australia’s (RBA) terminal cash rate are continually increasing, reducing the advantage of trading the RBA versus the Reserve Bank of New Zealand (RBNZ).
According to ANZ, the USD/JPY pair may give up its recent gains as the volatility from the BoJ and FOMC meetings calms down. The bank suggests that lower U.S. yields could be a factor in this easing of the pair.
It is recommended that investors and traders carefully observe changes in the market and approach their trading strategies with prudence.
If you’re interested in trade ideas from banks, take a look at eFX Plus. Currently, you can try it out for free for seven days, or subscribe to the Basic version at $79 per month and the Premium version at $109 per month. Click here to access it.
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