FX News

NZD/AUD Transfer:

The New Zealand Dollar (NZD) clocked a two-week high overnight against the Australian Dollar (AUD) of 0.9275 (1.0780) before falling back to 0.9240 (1.0820) as I write. RBA Decision later today is our key data with markets looking for direction in the cross. The RBA should hike 25 points, this is not a given but with recent data highlighting stubborn inflation, wage pressures and inflation we expect them to raise. This should give the NZD/AUD downward pressure post release. NZ Wage data tomorrow is also key for the RBNZ- anything lower than a 3.5% read of unemployment may raise questions for further tightening policy.

Current Level: 0.9243 (1.0811)
Resistance: 0.9321 (1.0909)
Support: 0.9166 (1.0728)
Last Weeks Range: 0.9154-0.9267 (1.0790-1.0924)

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