FX News

NZD/AUD Transfer:

The Australian Dollar (AUD) continues its advancement against the New Zealand Dollar (NZD) extending gains into the end of the week to 1.0850 (0.9220). A combination of RBNZ dovish views affecting NZD flows and solid data coming out of Australia has seen prices reach 6-week lows. Higher costs in rents, recreation and food have driven up the monthly Australian CPI again to 6.8% from 6.3% y/y. This confirms the ongoing inflationary pressures economy wide and will be disappointing for the RBA as they try to strengthen the case for easing policy. With price pushing past the 100-day moving average at 1.0800 (0.9260) we expect further AUD momentum through to next week’s RBA Tuesday.

The current interbank midrate is: NZDAUD 0.9211 AUDNZD 1.0850
The interbank range this week has been: NZDAUD 0.9215- 0.9307 AUDNZD 1.0744- 1.0851

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