Post NZ election results over the weekend sent the New Zealand Dollar (NZD) briefly to 0.9400 (1.0640) against the Australian Dollar (AUD) before the Aussie regained its momentum. This morning’s NZ CPI read for the 3rd quarter 2023 published better than expected at 1.8% shifting the y/y figure from 6.0% to 5.6% and sending the kiwi lower, the cross reaching 0.9315 (1.0735) a late September low. All eyes are now on Australian employment data out Thursday with the unemployment rate expected to remain stable at 3.7%
Current Level: 0.9307
Resistance: 0.940
Support: 0.9285
Last Weeks Range: 0.9347 – 0.9425