FX News

NZD/AUD (AUD/NZD) Conversion:

The New Zealand Dollar (NZD), Australian Dollar (AUD) cross continues to trade in a tight range this week pivoting around the 0.9050 zone with a lack of intent. The Reserve Bank of New Zealand hiked the OCR to 3.0% from 2.5% saying they will continue to raise rates through to mid next year peaking somewhere around 4.0% – if they continue to do this, economic growth will suffer, and NZ will dive into a deep recession. The Australian unemployment rate published down at 3.4% from 3.5% in June beating forecasts, however the participation rate has fallen to 66.4% and the economy lost 40,000 jobs in the month. Anything over 0.9000 still represents good buying of AUD

The current interbank midrate is: NZDAUD 0.9301 AUDNZD 1.1060
The interbank range this week has been: NZDAUD 1.0984- 1.1080 AUDNZD 0.9025- 0.9104

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