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Australian And New Zealand Dollar Forecasts Lowered At HSBC Citing USD Strength
Currency strategists at HSBC have revised lower their forecasted exchange rate levels for the Australian (AUD) and New Zealand Dollars (NZD) against the US Dollar (USD) in their latest currency brief to clients. Foremost, they suggest that the AUD and NZD will experience a weakening trend before stabilising in the second quarter of 2024, with the AUD/USD and NZD/USD forecasted to reach 0.62 and 0.55, respectively, by the end of the first half of 2024. The confluence of three main factors underpins HSBC's revised predictions. First, there's an anticipated convergence in the rate cut outlook between the Federal Reserve ... (full story)