currency

The Australian Dollar (AUD) has been the beneficiary of a tumbling reserve currency, but the cross rate with the Euro (EUR) has been tight, due to corresponding rises in the EUR. The range has been 0.5844 (1.7110) and 0.5990 (1.6700) and this despite a 25 basis-point rate cut from the ECB. The ECB have declared victory over inflation, despite signs of recent reversals in falls, as deep and extended recession takes its toll. The ECB has cited concerns over the impact of the US instigated global trade war.

Current Level: 1.7044
Resistance: 1.7180
Support: 1.6760
Last Weeks Range: 1.6716- 1.7107

The Australian Dollar (AUD) has been the beneficiary of a tumbling reserve currency, but the cross rate with the Euro (EUR) has been tight, due to corresponding rises in the EUR. The range has been 0.5844 (1.7110) and 0.5990 (1.6700) and this despite a 25 basis-point rate cut from the ECB. The ECB have declared victory over inflation, despite signs of recent reversals in falls, as deep and extended recession takes its toll. The ECB has cited concerns over the impact of the US instigated global trade war.

Current Level: 0.5867
Resistance: 0.5965
Support: 0.5820
Last Weeks Range: 0.5845- 0.5982

The cross rate between the Australian Dollar (AUD) and the Great British Pound (GBP) has traded between 0.4875 (2.0515) and 0.4955 (2.0180), working in tandem, and ignoring the plunging US Dollar. Markets have been dominated by fears over tariff wars and the war drums being beaten by the British PM. Defence and aid spending are on a sharp incline, and this will be funded by extended deficit and debt. The UK remain in a precarious economy position and appear to be on a downward spiral.

Current Level: 2.0354
Resistance: 2.0800
Support: 1.9890
Last Weeks Range: 2.0179 – 2.0514

The ECB cut rate a further 25 basis points overnight, citing the conquest of inflation and the need for stimulus over fears of a global tariff war. The US Dollar has been in rapid decline this past week, but the NZD/EUR cross rate has traded between 0.5300 (1.8865) and 0.5390 (1.8550). The German’s have decided to abandon the debt brake’ citing the need for massive deficit spending to break the deep and extended recession.

Current Level: 1.8814
Resistance: 1.9000
Support: 1.8520
Last Weeks Range: 1.8550 – 1.8896

The ECB cut rate a further 25 basis points overnight, citing the conquest of inflation and the need for stimulus over fears of a global tariff war. The US Dollar has been in rapid decline this past week, but the NZD/EUR cross rate has traded between 0.5300 (1.8865) and 0.5390 (1.8550). The German’s have decided to abandon the debt brake’ citing the need for massive deficit spending to break the deep and extended recession.

Current Level: 0.5315
Support: 0.5265
Resistance: 0.5400
Last week’s range: 0.5292- 0.5390

The UK has decided to up the aid to the Ukraine and massively expand defence spending, preparing for war in Europe. The Government deficit and debt have blown out and this is a further excuse to drive the economy into the ditch. The UK are in dire economic straits and the war drums are cover. The NZD/GBP traded in the range of 0.4410 (2.2690) and 0.4455 (2.2450), boosted by the crashing reserve.

Current Level: 2.2461
Resistance: 2.2690
Support: 2.2360
Last Weeks Range: 2.2408- 2.2689

The UK has decided to up the aid to the Ukraine and massively expand defence spending, preparing for war in Europe. The Government deficit and debt have blown out and this is a further excuse to drive the economy into the ditch. The UK are in dire economic straits and the war drums are cover. The NZD/GBP traded in the range of 0.4410 (2.2690) and 0.4455 (2.2450), boosted by the crashing reserve.

Current Level: 0.4452
Resistance: 0.4470
Support: 0.4410
Last Weeks Range: 0.4407- 0.4462

The New Zealand Dollar (NZD) has edged higher over the week against the Australian Dollar (AUD) posting 0.9062 (1.1034) in early morning. The main news of the week has ben the resignation of the Reserve Bank Governor Adrian Orr who has been in the role since March 2018. He has not given a reason for his departure and will stand down at the end of March. The NZD hasn’t really reacted on the news. Aussie GDP for the December quarter came in at 0.6% as expected higher than the 3rd quarter 0.3% driven by high population demand. Year on year GDP has risen 1.3% since December 2024. No economic data next week should push the cross around depending on geopolitical news.

Current Level: 1.1039
Resistance: 1.1080
Support: 1.1020
Last Weeks Range: 1.10 – 1.1106

The New Zealand Dollar (NZD) has edged higher over the week against the Australian Dollar (AUD) posting 0.9062 (1.1034) in early morning. The main news of the week has ben the resignation of the Reserve Bank Governor Adrian Orr who has been in the role since March 2018. He has not given a reason for his departure and will stand down at the end of March. The NZD hasn’t really reacted on the news. Aussie GDP for the December quarter came in at 0.6% as expected higher than the 3rd quarter 0.3% driven by high population demand. Year on year GDP has risen 1.3% since December 2024. No economic data next week should push the cross around depending on geopolitical news.

Current Level: 0.9056
Resistance: 0.9075
Support: 0.9025
Last Weeks Range: 0.9004 – 0.9074