The Goldman Sachs analysts revised down its economic growth forecasts for both Australia’s and New Zealand’s economy.
Sees Q1 2020 at -0.3% QoQ.
Australia’s 2020 GDP projected at 2.1% vs. 2.4% previous.
Sees New Zealand’s GDP at -0.1% in Q1 and 2.3% for 2020 vs. 2.5% previous forecast.
Aussie defends 0.6600, Kiwi turns negative
The greenback is seen catching fresh bids across the board, now sending AUD/USD back towards the 0.66 handle. The Aussie struggled once again to close Monday’s bearish opening gap near 0.6625 region.
Meanwhile, the Kiwi fell back into the red, now printing a new daily low at 0.6331.