AUD/NZD: a bearish case - Nomura

Analysts at Nomura are bearish AUD/NZD.

Key Quotes:

"We re-entered short AUD/NZD positions this week."

"The fundamental backdrop continues to favour NZD over AUD, with New Zealand domestic growth momentum more positive and commodity prices firming."

"We continue to expect a very weak Q1 Australian GDP print (released 7 June) which should also keep interest rate differentials supporting NZD."