NZD/AUD Transfer

ByDragana My Engine Lab

The New Zealand Dollar (NZD) extended its rise to 0.9320 (1.0730) midweek against the Australian Dollar (AUD) the highest price in 5 weeks, into Friday the cross is back around 0.9285 (1.0770) mark. The Australian economy slowed in quarter 1 with growth of 0.2% compared to 0.4% expected and 0.6% for 4th quarter 2024. Global growth trade tensions have been the culprit along with Trump’s tariff plans upsetting demand flow. The RBA should deliver 3 cuts in 2025 starting on the 20th of May with the growth forecast at the end of the second quarter expected to be well down on the 1.8% projection. We think the recent surge in the NZD should maintain momentum heading into mid-June.

The current interbank midrate is: NZDAUD 0.9285 AUDNZD 1.0765
The interbank range this week has been: NZDAUD 0.9267- 0.9324 AUDNZD 1.0725- 1.0790

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