RBNZ to cut in November? - ANZ

Analysts at ANZ explained that they are on dips for NZD.

Key Quotes:

"USD strength beckons at some stage – it’s the one major economy with any near term prospects. But the Fed is reticent to act too aggressively, and we wonder if hiking from 0.5% to 0.75% is just going from one type or “zero-rate” to another. Sustained USD strength looks to be a 2017 story, if even then."

"RATES: Likely to open unchanged given US markets were closed. An offered tone dominated in swaps over the London session, suggestion we’ll see mild pressure to go lower. Looking beyond the profit-taking we have seen of late, with the TWI at ~78 we see no reason for the 2yr to be this high ahead of what is almost certainly going to be an OCR cut in November (yet this is only trading at a ~17bp gap to September, and still above 1.8% in outright terms)."