I'm listening to Lowe ... mainly so I'll know when its over.

Anyway, here's MS on the kiwi ... I posted their AUD view earlier:

Morgan Stanley view on the Australian dollar, revise forecast higher

  • We retain a bearish view on AUDNZD and hence a more balanced view on the NZD relative to the USD (0.70 by 4Q17).
  • This reflects a generally brighter outlook for New Zealand's economy, where the output gap appears to have already closed and is likely to continue to tighten, unlike in Australia.
  • While the RBNZ has pushed back against the rather aggressive pricing for OCR over the next 24 months we view the likelihood of tighter monetary policy as much greater in New Zealand vs. Australia going into 2H17.
  • While both economies are exposed to risks related to potential trade protectionism, we view the impact from a consequent China slowdown as greater for Australia, particularly given the recent rally in iron ore.

Forecasts: