interbank midrate

FX News

NZD/GBP Transfer

The New Zealand Dollar (NZD) made its way to 0.4935 (2.0270) Wednesday against the British Pound (GBP) but failed to hold this area. The risk tone took a turn as US CPI released, and the greenback rallied. This in turn sent “risk crosses reeling across the board, the kiwi no exception, giving back gains to reach 0.4865 (2.0550) into Friday. UK GDP came in at 0.2% for the month of August after a drop of -0.6% in July with growth in all sectors contributing, the news helping the GBP.

The current interbank midrate is: NZDGBP 0.4860 GBPNZD 2.0576

The interbank range this week has been: NZDGBP 0.4861- 0.4933 GBPNZD 2.0271- 2.0569

FX News

AUD/GBP Transfer

We were bang on with our predictions last week with movement in the British Pound (GBP), Australian Dollar (AUD) with price easing lower off 0.5250 (1.9050) to 0.5220 (1.9160) at the close of the week. Despite geopolitical news in the cross dampening the mood in markets the Aussie has ignored the brief shifting higher on a risk/equity rally to 0.5245 (1.9070) Tuesday. A move above 0.5250 (1.9050) would signal further upside. We think the likelihood is low with consideration of the geopolitical scene.

Current Level: 0.5241
Support: 0.5075
Resistance: 0.5290
Last week’s range: 0.5202 – 0.5284

FX News

AUD/USD Transfer

It’s surprising to see prices in the Australian Dollar (AUD), US Dollar (USD) climb higher off the weekly open given the state of geopolitical tensions developing in Israel. The Aussie has reversed all of last week’s losses reaching 0.6410 as I write. We would expect risk flow towards the end of the week to have an impact on movement with things expected to ramp up in Israel. Resistance at 0.6450 should hold leading into Friday’s US CPI y/y, the week’s main data release. The recent dovish Fed shouldn’t come into effect this week, instead markets most likely will be focusing on the “safe haven” play.

Current Level: 0.6420
Support: 0.6300
Resistance: 0.6500
Last week’s range: 0.6284 – 0.6443

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

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

FX News

AUD/GBP Transfer

The Australian Dollar (AUD) made small gains over the week to reach 0.5230 (1.9130) against the British Pound (GBP) before falling away to around the weekly open at 0.5270 (1.8980) Friday. The AUD still looks heavy after 6 weeks of declines, it’s hard to see any shift back towards 0.5155 (1.9400) support in the near term. Next week’s RBA cash rate release is not expected to reflect a shift from the current 4.10%

The current interbank midrate is: AUDGBP 0.5266 GBPAUD 1.8989

The interbank range this week has been: AUDGBP 0.5227- 0.5275 GBPAUD 1.8957- 1.9128

 

 

FX News

AUD/USD Transfer

It’s been a game of two halves this week with the Australian Dollar (AUD) falling to fresh lows around 0.6330 then reversing midweek all the way back to 0.6423 as we head into Friday. August monthly CPI in Australia rose 5.2% compared to the 4.9% seen in July inline with rough expectations. The jump was mostly attributed to rising fuel prices and housing costs. The RBA will continue to ponder if they need to raise rates from 4.10% before the end of the year. However next week’s RBA cash rate release is not expected to deliver any surprises.

The current interbank midrate is: AUDUSD 0.6429

The interbank range this week has been: AUDUSD 0.6330- 0.6443