Last week’s slide to 0.9020 (1.1090) wasn’t sustained, the New Zealand Dollar (NZD) making gains back to 0.9090 (1.1000) this morning. Precious metals markets and the latest Chinese data put pressure back on the Australian Dollar (AUD) as the currency gave back momentum. NZ 2-year Inflation Expectations ticked up from 2.03% to 2.12% with the RBNZ cash rate forecast respectively 4.25% by Dec 24 and 3.25% by September 2025 of note. The Aussie jobs report for October is expected to come in poor and support further kiwi rises.
Current Level: 1.019
Resistance: 1.1090
Support: 1.0970
Last Weeks Range: 1.0990 – 1.1089