FX News

NZD/AUD Transfer

The New Zealand Dollar (NZD) extended its momentum this week over the Australian Dollar (AUD) reaching 0.9240 (1.0820) the third straight week of bullish continuation. Clearing key resistance at 0.9200 (1.0870) yesterday could signal further moves to the topside over the next while. If we look at the 50% fib level of the yearly low and highs we would expect a retest of the level at 0.9260 (1.0800) then 0.9300 (1.0750) over the coming days. The RBNZ left interest rates on hold at 5.5% this week suggesting inflation is still causing issues meaning interest rates could remain high into early 2025. Earlier expectations were that the central bank could cut as early as August this year- this is now highly unlikely. NZ Retail Sales won’t be helping inflation either publishing at 0.5% compared to a dip of -0.3% predicted in first quarter 2024.

The current interbank midrate is: NZDAUD 0.9230 AUDNZD 1.0826

The interbank range this week has been: NZDAUD 0.9139- 0.9243 AUDNZD 1.0818- 1.0942


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