FX News

NZD/AUD Transfer

The Australian Dollar (AUD) has outperformed the New Zealand Dollar (NZD), the fourth straight week in a row reaching 1.0920 (0.9160) before easing back to 1.0870 (0.9200) in Friday trading. The RBA Tuesday left interest rates unchanged at 0.10% but uttered intentions of hikes over the coming months signalling signs potentially for May/June rises instead of earlier August forecasts. The AUD has been well supported by rising raw material commodities such as coal and iron ore, this trend should promote further upside in the AUD. The ascending trend line looks very stable on the chart, with a “head and shoulder” pattern well formed to take the cross to 0.9130 support. Looking ahead we have Aussie jobs numbers and key RBNZ cash rate and statement, with another rise forecast, most of this may be already priced in.

Exchange Rates:
The current interbank midrate is: NZDAUD 0.9198 AUDNZD 1.0864
The interbank range this week has been: NZDAUD 0.9154- 0.9253 AUDNZD 1.0807- 1.0924

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