Daily outlook for AUD/NZD: Westpac

Quotes from Westpac Research:

- AUD/NZD 1 day: The market was disappointed by yesterday's CAPEX report and has turned bearish again, setting up a retest of the 1.0301 low during the week ahead.

- AUD/NZD 1-3 month: There's much chatter about reaching parity. That's possible, but our core view is the cross will oscillate around 1.05 for much of this year, and then decline into 2016.  While there is arguably too much easing priced into the AUD, markets easily overshoot. That, combined with less appetite to short the NZD since the RBNZ's on-hold reaffirmation, makes trying to pick the exact cycle bottom a risky affair.