Soft NZ inflation expectations yesterday saw the kiwi under pressure dipping from 0.9135 (1.0950) areas to 0.9070 (1.1025) this morning against the Australian Dollar (AUD) and the only time it’s closed under 0.9100 since November last year. NZ January house prices declined a further 3.5% from December to January taking the national median down 16.2% from the high. Upcoming on the docket is Aussie employment data as we head into next week’s key RBNZ rate announcement and policy statement. On the chart we see massive support at 0.9000, through here and the cross could target the fib level at 0.8950 (1.1170).
The current interbank midrate is: NZDAUD 0.9065 AUDNZD 1.1024
The interbank range this week has been: NZDAUD 0.9067- 0.9151 AUDNZD 1.0927- 1.1028