GBP/NZD Transfer

The New Zealand Dollar (NZD) is struggling to gain any momentum against the British Pound (GBP) post last week’s NZ CPI release. The kiwi has clocked further losses reaching 0.4625 (2.1620) in early Tuesday clearing the support and level at 0.4630 (2.1590) – the low from May 2016. This date signifying the massive shift in the cross-post Brexit voting. No data this week in the pair should indicate any moves will be based on big picture themes.

Current Level: 2.1640
Resistance: 2.2000
Support: 2.1212
Last Weeks Range: 2.1197- 2.1491

NZD/GBP Transfer

The New Zealand Dollar (NZD) is struggling to gain any momentum against the British Pound (GBP) post last week’s NZ CPI release. The kiwi has clocked further losses reaching 0.4625 (2.1620) in early Tuesday clearing the support and level at 0.4630 (2.1590) – the low from May 2016. This date signifying the massive shift in the cross-post Brexit voting. No data this week in the pair should indicate any moves will be based on big picture themes.

Current Level: 0.4621
Resistance: 0.4715
Support: 0.4545
Last Weeks Range: 0.4653- 0.4717

AUD/NZD Transfer

For about a week now the Australian Dollar (AUD), New Zealand Dollar (NZD) cross has been pivoting around the 0.9000 (1.1100) zone in the wake of Mixed Aussie jobs data and falling NZ CPI. As we mentioned it’s becoming tough to get a read on the NZD/AUD and directions from here, certainly with the RBA considering hikes on August 6th we may see the cross trend much lower into the 89’s with pressure remaining to the downside. We see no tier one date on the economic docket this week suggesting we could see more of the same.

Current Level: 1.1101
Resistance: 1.1150
Support: 1.1030
Last Weeks Range: 1.1053 – 1.1151

NZD/AUD Transfer

For about a week now the Australian Dollar (AUD), New Zealand Dollar (NZD) cross has been pivoting around the 0.9000 (1.1100) zone in the wake of Mixed Aussie jobs data and falling NZ CPI. As we mentioned it’s becoming tough to get a read on the NZD/AUD and directions from here, certainly with the RBA considering hikes on August 6th we may see the cross trend much lower into the 89’s with pressure remaining to the downside. We see no tier one date on the economic docket this week suggesting we could see more of the same.

Current Level: 0.8999
Resistance: 0.9065
Support: 0.8970
Last Weeks Range: 0.8967 – 0.9047

 

NZD/USD Transfer

The New Zealand Dollar (NZD) extended declines Monday against the US Dollar (USD) falling to 0.5970 as the fallout from Biden’s presidential race exit hits risk. Equities ticked higher surprisingly bouncing back from a series of losses, the kiwi not going along for the ride on this occasion. It’s a slow week of data for the cross with only US advance GDP to decipher with expectations the USD might get a push higher if we see a rise from May’s 1.4%. Support on the chart is 0.5880, the low from early May.

Current Level: 0.5977
Support: 0.5880
Resistance: 0.6060
Last week’s range: 0.6005- 0.6109

 

AUD/USD Transfer

The Australian Dollar (AUD) received a minor lift yesterday after jobs data came in mixed. The Aussie pushed up to 0.6740 from 0.6720 with unemployment publishing at 4.1% as expected. However, the number of employed people in June rose 50k keeping a lid on more upside. Also of note is recent Chinese data and falling commodity prices have affected the AUD. The Fed will look to start cutting interest rates in September and again at their December meeting which will lend a hand to AUD buyers. Heading into Friday trading the pair trades down at 0.6705 having retested 0.6700 support.

The current interbank midrate is: AUDUSD 0.6693

The interbank range this week has been: AUDUSD 0.6693- 0.6787

NZD/GBP Transfer

The New Zealand Dollar (NZD) continues to underperform this week against the British Pound (GBP) falling briefly to 0.4655 (2.1490) Wednesday recovering slightly into Friday to 0.4670 (2.1415). UK CPI turned in sticky rising to 2.0% from 1.9% y/y in June, the Bank of England refraining from talk of cutting rates and will likely hesitate unwinding monetary policy with ongoing inflation pressures. We have already seen the Pound grow from 0.4810 (2.08) levels over the past fortnight, we predict a retest of 0.4630 (2.1585) the multi-year low.

The current interbank midrate is: NZDGBP 0.4663 GBPNZD 2.1445

The interbank range this week has been: NZDGBP 0.4652- 0.4718 GBPNZD 2.1193- 2.1493

AUD/GBP Transfer

The New Zealand Dollar (NZD) rise post mid week’s NZ CPI release to 0.6100 levels was short lived as we expected- the kiwi giving back gains Thursday to clock 0.6040 in late NY trading as downside bias resumed. Earlier US Fed chair Powell said the central bank would not wait until inflation is back at 2.0% to cut rates which could end up sending the NZD higher at some point if we see a policy change. The cross is sitting just above the 10-week low of 0.6033- a swing through here and 0.6000 is the next target zone.

The current interbank midrate is: NZDUSD 0.6035

The interbank range this week has been: NZDUSD 0.6033- 0.6110

AUD/GBP Transfer

The British Pound (GBP) bounced off solid resistance at 1.9350 (0.5170) as we predicted it would against the Australian Dollar (AUD) falling to 1.9290 (0.5185) into early Friday sessions. A higher UK CPI y/y read for June came in at 2.0% based on 1.9% estimates raising concerns for earlier rate cuts by the Bank of England (BoE). Australian unemployment rose to 4.1% as predicted, up from 4.0% in May, the AUD receiving a boost back at 0.5190 (1.9260) overnight during NY.

The current interbank midrate is: AUDGBP 0.5171 GBPAUD 1.9338

The interbank range this week has been: AUDGBP 0.5165- 0.5230 GBPAUD 1.9117- 1.9359

NZD/AUD Transfer

Still no luck for the New Zealand Dollar (NZD) this week as it came into Friday around the weekly open at 0.9020 (1.1090) against the Australian Dollar (AUD). At one point it dipped to a new yearly low at 0.8970 (1.1150). Australian Jobs data came in mixed with the number of employed rising 50k in June with official unemployment rising from 4.0% to 4.1%. With no clear trend to incoming data, it’s becoming harder to get a read on what the RBA may do next, certainly it’s becoming more likely the central bank will raise their interest rate at their 6th August meeting if incoming data doesn’t show a changing economy.

The current interbank midrate is: NZDAUD 0.9010 AUDNZD 1.1090

The interbank range this week has been: NZDAUD 0.8968- 0.9047 AUDNZD 1.1053- 1.1150