NZD/USD should be able to appreciate moderately over the course of 2024 – Commerzbank
27.11.2023, 07:22

NZD/USD should be able to appreciate moderately over the course of 2024 – Commerzbank

The NZD has lost some ground against the US Dollar since the beginning of the year. Economists at Commerzbank analyze Kiwi’s outlook.

Stubborn inflation causes upward potential

In the medium term, we see further potential for a recovery in the course of 2024. On the one hand, there are increasing signs that the US economy is slipping into a recession, albeit a mild one. We therefore expect the Fed to cut rates by 100 bps next year. On the other hand, the RNBZ has significantly less room for manoeuvre to make similar interest rate cuts. After all, inflation is still proving to be very stubborn. Despite the early and sharp interest rate hikes, inflation is still some way from returning to the target range of 1-3% on a sustained basis.

In 2025, inflation is likely to prove more stubborn than expected globally, as it has already in New Zealand. The Fed is then likely to return to a more hawkish stance, which should benefit the US Dollar. However, as the RBNZ has proven to be quite resolute in its fight against inflation, the downside potential for the NZD/USD should remain limited.

 

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Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

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