February 18th 2022 2:00pm (NZT)
Our predictions of the Australian Dollar (AUD) run coming to an end came to fruition midweek reversing off recent lows around 0.9260 (1.0800) against the New Zealand Dollar (NZD), the Aussie losing its grip, the cross falling back to 1.0730 (0.9320) into Friday sessions. The long term trend line remains in place with a reversal signal needed at 0.9345 (1.0700) to confirm an overbought AUD and a new rally for the kiwi. Aussie employment data turned in benign with just 12,900 new jobs added to the workforce in January and the unemployment rate remaining at 4.2%. As we edge closer to next week’s 25-50 point RBNZ rate hike we may see a little more of a push from the kiwi.
Exchange Rates:
The current interbank midrate is: NZDAUD 0.9306 AUDNZD 1.0735
The interbank range this week has been: NZDAUD 0.9262- 0.9327 AUDNZD 1.0721- 1.0796
More NZD/AUD updates.