currency exchange

FX News

AUD/GBP Transfer

6 weeks of momentum in the Australian Dollar (AUD) ended Wednesday against the British Pound (GBP) when price clocked 0.5200 (1.9220) the GBP pulling back 2 weeks of declines. The RBA helped to inspire a rebound in the GBP as risk returned to markets, but the cross was unfazed. RBA’s new governor Michele Bullock was careful in her statement not to give away hints of a future rate hike. Solid UK PMI reads, and broad-based selling of the Aussie is the theme into Friday. Breaking below support at 0.5250 (1.9050) we may see further downside in the AUD leading into the close.

The current interbank midrate is: AUDGBP 0.5226 GBPAUD 1.9135

The interbank range this week has been: AUDGBP 0.5202- 0.5285 GBPAUD 1.8921- 1.9223

 

 

 

 

FX News

AUD/USD Transfer

The Australian Dollar (AUD) broke well below the game line Tuesday against the US Dollar (USD) clocking 0.6280, falling below support at 0.6350 a 1 year low. As risk sentiment returned the Aussie clawed back losses over the week to reach 0.6370 in early Friday. The new RBA governor Michele Bullock’s first meeting set the stage for a possible upcoming rate hike in November highlighting upside risks to inflation. All eyes now are now on 3rd quarter inflation with CPI still running hot. US Non-Farm Payroll releases late tonight expected to be a poor number based on midweek ADP suggesting a downside bias.

The current interbank midrate is: AUDUSD 0.6368

The interbank range this week has been: AUDUSD 0.6285- 0.6445

 

 

FX News

NZD/GBP Transfer

The British Pound (GBP) recovered losses in midweek moves, trading to 2.0580 (0.4860) against the New Zealand Dollar (NZD) but wasn’t able to hold momentum. The RBNZ left rates on hold at 5.50% as widely expected with the central bank suggesting interest rates may need to stay at restrictive levels for an extended time. The rise in oil prices could derail domestic costs and inflation in the coming months. A retest of 0.4930 (2.0280) looks favourable with risk conditions contributing.

The current interbank midrate is: NZDGBP 0.4893 GBPNZD 2.0437

The interbank range this week has been: NZDGBP 0.4630- 0.5051 GBPNZD 1.9798- 2.1598

FX News

NZD/USD Transfer

The New Zealand Dollar (NZD) recovered off 0.5870 midweek post the RBNZ meeting reversing losses against the US Dollar (USD) to 0.5965 into Friday. Despite dovish comments from the RBNZ governor the kiwi held firm, the currency also benefiting from improving risk markets as equities rallied. The central bank expects inflation to fall to between the 1-3% target around mid-2024 but monetary policy would remain at sustained levels for a decent period. Tonight’s Non-Farm Payroll will be closely watched and could be a poor report if Thursday’s ADP is a signal. With the NZD targeting 0.6000 on the chart anything north of this level represents good buying of USD in a bear cross.

The current interbank midrate is: NZDUSD 0.5966

The interbank range this week has been: NZDUSD 0.5871- 0.6008

 

 

 

 

FX News

NZD/AUD Transfer

The RBA’s new governor Michele Bullock gave her first statement Tuesday cunningly not suggesting a further rate hike was a dead cert at the upcoming November meeting. While the central bank kept rates at 4.10% the stage was set for a continuation of some Aussie form with further rises to inflation looking likely. The RBNZ also left their interest rate at 5.50% in a dovish read, the kiwi reversing wins from 0.9389 (1.0650) to 0.9330 (1.0720) post data. Into Friday the kiwi has collected more bids reaching 0.9370 (1.0670) the currency eying the long-term price at 0.9470 (1.0560) from mid-May 2023. We wouldn’t bet against it.

 

The current interbank midrate is: NZDAUD 0.9360 AUDNZD 1.0670

The interbank range this week has been: NZDAUD 0.9307- 0.9384 AUDNZD 1.0656- 1.0744

 

 

 

 

 

 

FX News

EURO/AUD Transfer

The Australian Dollar (AUD) surged to reach 0.6130 (1.6320) in late Friday trading against the Australian Dollar (AUD) prior to falling back to 0.6090 (1.6420) at the  close of the week. Monday’s action saw more EUR dominance, price pulling back towards 0.6060 (1.6500). The long-term bull channel from 0.5865 (1.7050) mid-August dominates the chart with resistance in the move seen at 0.6155 (1.6250) from here. RBA later today with the central bank not expected to hike from 4.10% for now.

Current Level: 1.6466
Resistance: 1.7000
Support: 1.6260
Last Weeks Range: 1.6318 – 1.6589

FX News

AUD/EURO Transfer

The Australian Dollar (AUD) surged to reach 0.6130 (1.6320) in late Friday trading against the Australian Dollar (AUD) prior to falling back to 0.6090 (1.6420) at the close of the week. Monday’s action saw more EUR dominance, price pulling back towards 0.6060 (1.6500). The long-term bull channel from 0.5865 (1.7050) mid-August dominates the chart with resistance in the move seen at 0.6155 (1.6250) from here. RBA later today with the central bank not expected to hike from 4.10% for now.

Current Level: 0.6073
Resistance: 0.6150
Support: 0.5880
Last Weeks Range: 0.6028- 0.6128

FX News

GBP/AUD Transfer

For 6 straight weeks the Australian Dollar (AUD) has outperformed the British Pound (GBP), the cross reaching 0.5300 (1.8860) late Friday a late June high. Risk action Monday saw the AUD give back gains to 0.5265 (1.9000) as markets await this week’s key RBA rate announcement data. Odds for the RBA to hike from 4.1% later today is slim given recent inflation data and Retail Sales prints. We see resistance at 0.5250 (1.9040), the 50-day MA, price could resume its trajectory towards 0.5320 (1.8800) over the week.

Current Level: 1.8996
Resistance: 1.9900
Support: 1.8600
Last Weeks Range: 1.8857 – 1.9129

FX News

AUD/GBP Transfer

For 6 straight weeks the Australian Dollar (AUD) has outperformed the British Pound (GBP), the cross reaching 0.5300 (1.8860) late Friday a late June high. Risk action Monday saw the AUD give back gains to 0.5265 (1.9000) as markets await this week’s key RBA rate announcement data. Odds for the RBA to hike from 4.1% later today is slim given recent inflation data and Retail Sales prints. We see resistance at 0.5250 (1.9040), the 50-day MA, price could resume its trajectory towards 0.5320 (1.8800) over the week.

Current Level: 0.5264
Support: 0.5025
Resistance: 0.5375
Last week’s range: 0.5227 – 0.5303

FX News

AUD/USD Transfer

Aussie Labour Day Monday saw thin volatile market action in the Australian Dollar (AUD), US Dollar (USD) cross with the pair falling from 0.6430 area to 0.6360 into Tuesday. Last week’s drop to 0.6330 was the lowest traded price since October 2022, currently the Aussie will be doing well to avoid falling through the floor this week. The RBA later today will set the tone for upcoming policy meetings and rate settings, the Central Bank not expected to hike today from 4.10%. It’s the first policy meeting under the new governor Michele Bullock, how will she go? Certainly, with rising oil prices, rising inflation and a struggling Chinese economy she has her work cut out.

Current Level: 0.6366
Support: 0.6300
Resistance: 0.6500
Last week’s range: 0.6330 – 0.6500