Still no luck for the New Zealand Dollar (NZD) this week as it came into Friday around the weekly open at 0.9020 (1.1090) against the Australian Dollar (AUD). At one point it dipped to a new yearly low at 0.8970 (1.1150). Australian Jobs data came in mixed with the number of employed rising 50k in June with official unemployment rising from 4.0% to 4.1%. With no clear trend to incoming data, it’s becoming harder to get a read on what the RBA may do next, certainly it’s becoming more likely the central bank will raise their interest rate at their 6th August meeting if incoming data doesn’t show a changing economy.
The current interbank midrate is: NZDAUD 0.9010 AUDNZD 1.1090
The interbank range this week has been: NZDAUD 0.8968- 0.9047 AUDNZD 1.1053- 1.1150