New Zealand Dollar Forecast

The Australian and New Zealand Dollars led a major currency rebound early in the midweek session but remained underperformers for the month to early May and Commonwealth Bank of Australia has warned that recent losses could yet extend further and by up to five cents in both cases.

"We turn bearish on AUD and NZD" - Credit Suisse.

"But longer-term Westpac are bullish on the New Zealand Dollar's prospects."

The New Zealand Dollar's near-term technical outlook is said to be "complicated" by one of New Zealand's largest lenders, where strategists look to Wednesday's all-important inflation data to offer fresh direction.

The New Zealand Dollar is forecast to maintain its dominant position in global FX, supported by the ongoing war in Ukraine and bets that China's economy will continue to expand to the benefit of New Zealand.

GBP/NZD decline may have further to run, could see GBP/NZD probing beneath 1.95.

GBP/NZD supported at 2.0120 short-term, but strength wanes on NZD/USD recovery.

GBP/NZD remains buoyant in risk averse market, supported above 2.0220 & could approach 2.06.

ANZ forecasts top of 2.10 in March as NZD/USD continues to struggle.

If the New Zealand Dollar was amongst the biggest losers in January it stands it should be amongst the biggest winners in February.

GBP/NZD targets 2.03 as NZD/USD slides, seen supported near 2.00 & 1.99 on weakness.

GBP/NZD upside limited in short-term, but supported at 1.9950 on weakness.

The market anticipates the Reserve Bank of New Zealand to lead the charge to higher interest rates in 2022, but they are likely to disappoint against the lofty expectations held by investors warns a Wall Street investment bank.

GBP/NZD has scope for further gains up to and above 2.0125 over the coming days.

GBP/NZD could attempt test of 2.00, particularly if NZD/USD remains under pressure.

NZD tipped for "bullish" 2022, but Sterling could yet outperform and push GBP/NZD back towards 2.0.

The New Zealand Dollar's fortunes in 2022 will rest heavily on how fast the Reserve Bank of New Zealand pursues higher interest rates, and given elevated expectations there is ample scope for disappointment says ANZ.

GBP/NZD’s 1.94-1.97 range could hold short-term and choppy conditions are expected in an action-packed week.

GBP/NZD starts the new week with another gain and has gone to its highest level since October 13 at 1.9654, further gains are likely as global investor sentiment is set to remain shaky.

The trend is unclear but GBP/NZD looks weak short-term.