ING
2026 FX Outlook
LIVE10 November 2025USD bearish
Back to CurrenciesBullish
NZD/USD
NZD should recover alongside AUD as the RBNZ pauses its easing cycle and growth
ING Forecast Path
Cross-Firm Forecast Comparison
Key Drivers
RBNZ pause expected
Growth recovery
Dairy prices supportive
Undervalued
All Firm Targets (Dec '26)
INGBullish0.6200
DBModerately Bullish0.6200
MSNeutral to Slightly Bullish0.6100
GSModerately Bullish0.6000
MUFGNeutral to Slightly Bullish0.6000
BofANeutral0.6000
JPMNeutral0.5900
BARCNeutral0.5900
Analysis Summary
NZD should recover alongside AUD as the RBNZ pauses its easing cycle and growth rebounds. While not as compelling as AUD given lower yields, NZD offers significant upside from deeply oversold levels.