FX News

NZD/AUD Transfer:

The New Zealand Dollar (NZD) reached a fresh high of 0.9550 (1.0470) against the Australian Dollar (AUD) to close out the week the highest levels since December last year. Central bank divergence has been the main catalyst for the recent giant move in the kiwi from 0.8700 (1.1500) levels back in September. The outlook is for more tightening to take place for the RBNZ and not enough for the RBA, the scenario is priced into the “rates curve” with sentiment and a shift back to a more neutral policy view down the road supporting a possible trigger of a reversal towards 0.9000 (1.1100). Push backs by the Aussie this week have price back around 0.9390 (1.0650). No data is due on the docket for the cross until 11 Jan 2023 Australian CPI release. Prices above 0.9350 represent good buying of AUD.

The current interbank midrate is: NZDAUD 0.9380 AUDNZD 1.0643
The interbank range this week has been: NZDAUD 0.9372- 0.9545 AUDNZD 1.0476- 1.0669

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