FX News

NZD/AUD Transfer

The New Zealand Dollar extended declines this week against the Australian Dollar (AUD) reaching 0.9165 (1.0910) a new 26 July 2023 low. The Aussie gained on higher-than-expected CPI in September coming in at 5.6% y/y after 5.3% was forecast. The RBA did not comment on whether they will consider raising rates at their November 7 meeting suggesting the outcome is within range of what they were expecting. We don’t believe a word of it with markets positioning for a rise from 4.10%. Next week’s NZ Jobs data is our focus, unemployment predicted to rise above 3.6%. On the chart downside moves look limited for now with solid support at 0.9175 (1.0900)

The current interbank midrate is: NZDAUD 0.9197 AUDNZD 1.0868

The interbank range this week has been: NZDAUD 0.9163- 0.9244 AUDNZD 1.0817- 1.0913


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