Antipodeans and the week ahead - ANZ

The NZD eased off its recent highs with a quiet start to the week. 

Key Quotes:

"The RBNZ speech tomorrow will be examined for the extent the Bank is, or is not, looking through recent currency strength. 

Locally, broad-based strength across New Zealand’s commodity prices could be viewed as the offset for exporters in these sectors."

"Dairy prices, particularly wholemilk powder, edging back up could provide further support. But equally, a weak global inflationary pulse and elevated NZD keeps downward pressure on tradable inflation. 

Offshore developments remain critical too, with the US FOMC and politics continuing to drive USD direction."

"Australia’s Q2 CPI tomorrow will also be important for NZDAUD and NZDUSD direction too."