FX News

NZD/AUD Transfer

The Australian Dollar (AUD) has drifted lower over the week against the New Zealand Dollar (NZD) the second week straight coming from 1.0920 (0.9160) to 1.0870 (0.9200) into Friday. CPI y/y for the March quarter came in at 4.0%, down from 4.7% with the largest contributor being Housing costs – rental costs and utilities. The RBNZ reiterated they still have a way to go to achieve their target 1-3% band. Expectations of a return below 3% should happen in the third quarter this year with rate cuts possibly not until the August/October meetings. The kiwi still has a way to go to halt the bear run of late, a breakout through 0.9260 (1.0800) would certainly shift bias back towards the NZD.

The current interbank midrate is: NZDAUD 0.9194 AUDNZD 1.0868

The interbank range this week has been: NZDAUD 0.9158- 0.9208 AUDNZD 1.0859- 1.0919

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