AUD

FX News

AUD/GBP Transfer

UK Retail Sales depreciated the British Pound (GBP) late in the week against the Australian Dollar (AUD) reversing earlier gains made by the GBP after geopolitical tensions after Iran attacks on Israel. Coming off 1.9480 (0.5135) to close around 1.9270 (0.5190) the GBP extended losses to 1.9120 (0.5230) in early Tuesday trading. Equity markets and stable commodity levels have also supported the AUD, the S&P up over 1% in NY trading. On the docket this week is Aussie CPI q/q for March expected to print higher. Watch for a re-test of moves towards 0.5240 (1.9090).

Current Level: 0.5228
Support: 0.5120
Resistance: 0.5235
Last week’s range: 0.5133- 0.5208

FX News

AUD/USD Transfer

Signs of a potential base forming in the Australian Dollar (AUD), US Dollar (USD) cross look likely with price bouncing off 0.6380 several times over the past year. The reversal off 0.6365 late last week extended into Tuesday with the pair reaching 0.6450, a break past 0.6480 would be reason for a rethink of the overall downside bias in play. Big picture geopolitical uneasiness remains unsettled overall with tensions still reasonably high in Iran/Israel. Still however a mild recovery in equity markets overnight was welcomed by buyers of the big dollar. On the calendar this week is Australian first quarter CPI with predictions of a rise from 0.6% to 0.8% with the y/y number to come off 4.1% to 3.4%. A pickup in the iron ore price from early April’s 98.00 to 108.25 this morning is having a modest impact on the AUD and could continue if Chinese Industrial orders remain buoyant.

Current Level: 0.6460
Support: 0.6400
Resistance: 0.6630
Last week’s range: 0.6360- 0.6492

FX News

EURO/NZD Transfer

The New Zealand Dollar (NZD) bounced back off Monday’s open at 0.5530 (1.8090) to reach 0.5560 (1.7980) into Tuesday trading. 0.5560 (1.7980) is the 50% fib retracement points of recent high and lows and suggests the kiwi may have been overbought to current levels. We favour a retest of the 0.5540 (1.8050) this week data dependant. Eurozone Services and Manufacturing print tonight expected to reflect modest rises in March.

Current Level: 1.7998
Resistance: 1.8100
Support: 1.7900
Last Weeks Range: 1.7875 – 1.8134

FX News

NZD/EURO Transfer

The New Zealand Dollar (NZD) bounced back off Monday’s open at 0.5530 (1.8090) to reach 0.5560 (1.7980) into Tuesday trading. 0.5560 (1.7980) is the 50% fib retracement points of recent high and lows and suggests the kiwi may have been overbought to current levels. We favour a retest of the 0.5540 (1.8050) this week data dependant. Eurozone Services and Manufacturing print tonight expected to reflect modest rises in March.

Current Level: 0.5556
Support: 0.5525
Resistance: 0.5585
Last week’s range: 0.5514- 0.5594

FX News

GBP/NZD Transfer

UK Manufacturing tonight should show modest improvements to orders, the only data on the roster this week in the New Zealand Dollar (NZD), British Pound (GBP) cross and may improve the GBP of the current 0.4795 (2.0860) level if the data impresses. The kiwi is trading at a 6-week high at the moment after breaking past resistance at 0.4790 (2.0870). Earlier UK Retail Sales was unimpressive with rises to auto fuel and non-food store sales, the data adding to the GBP weakness. Our pick is for the NZD to continue to the downside after the recent run up.

Current Level: 2.0086
Resistance: 2.1200
Support: 2.0750
Last Weeks Range: 2.0911- 2.1203

FX News

NZD/GBP Transfer

UK Manufacturing tonight should show modest improvements to orders, the only data on the roster this week in the New Zealand Dollar (NZD), British Pound (GBP) cross and may improve the GBP of the current 0.4795 (2.0860) level if the data impresses. The kiwi is trading at a 6-week high at the moment after breaking past resistance at 0.4790 (2.0870). Earlier UK Retail Sales was unimpressive with rises to auto fuel and non-food store sales, the data adding to the GBP weakness. Our pick is for the NZD to continue to the downside after the recent run up.

Current Level: 0.4794
Resistance: 0.4820
Support: 0.4720
Last Weeks Range: 0.4716- 0.4782

FX News

AUD/NZD Transfer

Consolidation in the New Zealand Dollar (NZD), Australian Dollar (AUD) pair still looks the theme this week after the bull run to 1.0950 (0.9130) collapsed. The past 10 days the cross has been pivoting around the 0.9180 (1.0890) zone with little bias in any direction. The kiwi managed to reach 0.9212 (1.0855) late in the week but the Aussie looks to want to get on with it into Tuesday as it eyes the bottom of the recent band. Australian CPI prints tomorrow and is expected to slow sharply to 3.4% from 4.1% in the fourth quarter. We predict the AUD to be well supported over the rest of the week.

Current Level: 1.0899
Resistance: 1.0960
Support: 1.0850
Last Weeks Range: 1.0854- 1.0918

FX News

NZD/AUD Transfer

Consolidation in the New Zealand Dollar (NZD), Australian Dollar (AUD) pair still looks the theme this week after the bull run to 1.0950 (0.9130) collapsed. The past 10 days the cross has been pivoting around the 0.9180 (1.0890) zone with little bias in any direction. The kiwi managed to reach 0.9212 (1.0855) late in the week but the Aussie looks to want to get on with it into Tuesday as it eyes the bottom of the recent band. Australian CPI prints tomorrow and is expected to slow sharply to 3.4% from 4.1% in the fourth quarter. We predict the AUD to be well supported over the rest of the week.

Current Level: 0.9169
Resistance: 0.9220
Support: 0.9125
Last Weeks Range: 0.9136- 0.9213

 

FX News

NZD/USD Transfer

The New Zealand Dollar (NZD) recovered off last week’s low around 0.5860 against the US Dollar (USD) to 0.5915 this morning. Risk sentiment recovered for the most part off the back of the recent escalated tensions between Iran and Israel late last week. Equity markets ticked up overnight supporting NZD buys as well, but we would be surprised if we saw prices above 0.5950 in the next day or so with a stiff bias to the downside still looming. On the docket this week we have US Advanced GDP for the March quarter expected to come in light around 2.5% vs 3.4% in the December quarter. A push above the 50-day moving average around 0.5950 and above 0.6000 would signal further upside but this looks a tall order.

Current Level: 0.5925
Support: 0.5860
Resistance: 0.5950
Last week’s range: 0.5850- 0.5952

 

FX News

AUD/GBP Transfer

Predominantly risk off markets this week has seen the Australian Dollar (AUD) extend losses from mid last week’s 0.5235 (1.9100) levels to reach 0.5140 (1.9450) Wednesday against the British Pound (GBP). The Aussie fought back however to 0.5180 (1.9300) post the Australian employment print which still showed a modestly tight labour market. Earlier UK CPI y/y printed at 3.2% down from 3.4% in February slightly higher than forecast of 3.1% helping to support the GBP, the largest contribution towards the number being a drop in food prices. BoE governor Bailey saying next month he predicts a larger drop to the CPI figure. We expect further downside moves in the AUD over the medium term.

The current interbank midrate is: AUDGBP 0.5158 GBPAUD 1.9387

The interbank range this week has been: AUDGBP 0.5139- 0.5208 GBPAUD 1.9199- 1.9456