Economic Update
New Zealand (NZD)
Australia (AUD)
[email protected] | phone: 0800 560 006 | +64 9 281 2317
Volatile conditions in the Euro (EUR), Australian Dollar (AUD) pair this week based on both central banks rate decisions created shifting prices with the EUR the better off, edging ahead of the weekly open at 1.4840 (0.6740) to 1.4900 (0.6710) into early sessions today. The RBA raised their cash rate to 0.85% form 0.35% in…
The AUD has been faring badly against the USD, battered by the ‘hawkish’ approach to monetary policy by the Fed and the mixed messages emanating from the RBA Governor. Australian inflation has been falling steadily and the latest reading of 3.4% was steady, despite projections of a spike back upwards. The RBA Governor have been…
Australia We have only had some minor second tier data released from Australia this week and it’s had little effect on the markets. The CB leading index increased 0.5% up from 0.4% prior, while construction work done disappointed printing at -0.7% vs -0.5% expected. The Australian dollar has struggled to maintain a firm footing this…
The current interbank midrate is: NZDAUD 0.9175 AUDNZD 1.0893 The interbank range this week has been: NZDAUD 0.9133- 0.9197 AUDNZD 1.0872- 1.0949
We have seen a breakout through the 1.6500 (0.6060) area in the Euro (EUR), Australian Dollar (AUD) pair Monday, the Euro rallying to 1.6600 (0.6025) in morning trade, the Euro clocking a key triple top level. Today’s Australian CPI y/y releases tomorrow and is predicted to come in above December’s 3.4%. This will concern the…
Jerome Powell, the Federal Reserve Chairman, addressed congress midweek holding back expectations against tightening policy by saying “while reaching the standard of substantial progress is still a way off, participants expect that progress will continue”. As labour supply increases as they roll off unemployment benefits – “it’s likely that we will still be short of…