FX News

The Australian Dollar continued its pullback off 0.5740 (1.7415) mid last week to reach 0.5850 (1.7100) this morning against the Euro (EUR) as risk markets improved. German conservative leader Merz confirmed the Green Party is set to back his enormous financial plans for infrastructure totalling 500B Euro. After winning the election last week Merz said it was a priority to strengthen Europe based on the fate of the Trump administration. Aussie jobs numbers print Thursday and should be benign with unemployment numbers to remain at 4.1%.

Current Level: 0.5843
Resistance: 0.5930
Support: 0.5765
Last Weeks Range: 0.5741- 0.5847

The Australian Dollar (AUD) bounced off 0.4850 (2.0630) mid last week, the yearly low to claw back losses Monday to trade back around 0.4920 (2.0330) this morning against the British Pound (GBP). UK growth dipped into contraction territory while both Industrial Production and Manufacturing printed soft. Meanwhile markets look towards the Bank of England (BoE) policy announcement Friday with no change from the 4.5% cash rate predicted. We expect a dovish hold.

Current Level: 2.0354
Resistance: 2.0630
Support: 2.0220
Last Weeks Range: 2.0383 – 2.0625

The New Zealand Dollar (NZD) gained overnight against the Euro (EUR) to post 0.5330 (1.8760) continuing its push back from last week’s yearly low of 0.5215 (1.9170). NZ GDP for the 4th quarter releases Thursday morning and should come in around 0.4% and move the NZ economy out of its technical recession after two recent quarters in the red. On the chart 0.5400 (1.8540) is resistance on the top side, we think the kiwi should make further gains this week.

Current Level: 1.8761
Resistance: 1.9100
Support: 1.8630
Last Weeks Range: 1.8866 – 1.9167

The New Zealand Dollar (NZD) gained overnight against the Euro (EUR) to post 0.5330 (1.8760) continuing its push back from last week’s yearly low of 0.5215 (1.9170). NZ GDP for the 4th quarter releases Thursday morning and should come in around 0.4% and move the NZ economy out of its technical recession after two recent quarters in the red. On the chart 0.5400 (1.8540) is resistance on the top side, we think the kiwi should make further gains this week.

Current Level: 0.5330
Support: 0.5235
Resistance: 0.5400
Last week’s range: 0.5217- 0.5300

The New Zealand Dollar (NZD) extended its fight back against the English Pound (GBP) Monday off 0.4450 (2.2480) to post 0.4485 (2.2300) in early morning trade. Both Manufacturing and Production contracted impacting UK economic growth. NZ GDP prints Thursday with a move out of recession expected from third quarter’s -0.1% to 0.4% ending December, this surely will improve the NZD if the number comes in as we expect. Friday morning is the Bank of England (BoE) official cash rate with no change from the 4.5% predicted. However, the voting will be key with a 2-7 split expected highlighting a shift on monetary stance by the BoE.

Current Level: 2.2316
Resistance: 2.2730
Support: 2.2130
Last Weeks Range: 2.2473- 2.2751

The New Zealand Dollar (NZD) extended its fight back against the English Pound (GBP) Monday off 0.4450 (2.2480) to post 0.4485 (2.2300) in early morning trade. Both Manufacturing and Production contracted impacting UK economic growth. NZ GDP prints Thursday with a move out of recession expected from third quarter’s -0.1% to 0.4% ending December, this surely will improve the NZD if the number comes in as we expect. Friday morning is the Bank of England (BoE) official cash rate with no change from the 4.5% predicted. However, the voting will be key with a 2-7 split expected highlighting a shift on monetary stance by the BoE.

Current Level: 0.4481
Resistance: 0.4520
Support: 0.4400
Last Weeks Range: 0.4395- 0.4449

The New Zealand Dollar (NZD) continues to gain on the Australian Dollar (AUD) for the third straight week from 0.8950 (1.1175) to trade at 0.9125 (1.0960) this morning. A break past 0.9100 (1.1000) the highest weekly close in 2025 cemented further upside moves for the kiwi, if sustained we could see further action to retest the 0.9140 (1.0940) area. Data this week comes in the form of NZ GDP 4th quarter before Aussie employment Thursday morning.

Current Level: 1.0956
Resistance: 1.1000
Support: 1.0930
Last Weeks Range: 1.0995 – 1.1048

The New Zealand Dollar (NZD) continues to gain on the Australian Dollar (AUD) for the third straight week from 0.8950 (1.1175) to trade at 0.9125 (1.0960) this morning. A break past 0.9100 (1.1000) the highest weekly close in 2025 cemented further upside moves for the kiwi, if sustained we could see further action to retest the 0.9140 (1.0940) area. Data this week comes in the form of NZ GDP 4th quarter before Aussie employment Thursday morning.

Current Level: 0.9118
Resistance: 0.9150
Support: 0.9090
Last Weeks Range: 0.9051 – 0.9095

The New Zealand Dollar (NZD) perked up in overnight trading against the US Dollar (USD) posting 0.5820 a new yearly high. Investors are feeling better about the outlook with US equity markets all closing higher. News out of China say the govt will take steps to improve consumption by improving incomes went down well. We still have enormous uncertainty ahead with reciprocal Trump tariffs threatening ongoing sentiment to be announced April 2nd. Key data this week is Fed cash rate announcement Thursday morning with no change from the 4.5% expected. Later is NZ 4th quarter GDP with 0.4% predicted a rise out of the technical recession. This should benefit the NZD.

Current Level: 0.5821
Support: 0.5760
Resistance: 0.900
Last week’s range: 0.5676 – 0.5741