NZD Outlook

From the FXWW Chatroom: NZD – Couple of contrasting stories on Dairy. Locally in NZ 1. I highlighted yesterday 85% of farms are not breaking even – Citing stress test results, RBNZ says banks could post losses of up to 8% on dairy loans, which now are more than NZ$38 bln; says losses can be absorbed from profit rather than capital  2. In EU a new raft of measures has been introduced to support dairy farmers. Among the measures are increasing the amount the EU can buy through intervention, and voluntary supply reductions.

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