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AUDNZD: AUD/NZD Continues Rally, Makes New Multi-Year Highs

AUDNZD
New ZealandBulletAPACForeign Exchange BulletsAustraliaMarkets
  • The AUD/NZD pushed higher for a fifth straight session, closing 0.31% higher at 1.1146. The cross made new multi-year highs and now eyes 1.1200, the cross briefly traded above 1.1200 back in 2022 and prior to day has not traded above that level since 2015.
  • We are currently trading in overbought territory at 71.8, while the MACD indicator has starting printing green bars.
  • The AU-NZ 2yr swap rose another 4bps on Friday, closing at +48.50bps. As the RBNZ & RBA rate forecast continues to diverge. The market is currently pricing in 96bps of cuts across the next two RBNZ meetings, while the market doesn't expected a cut from the RBA until July.
  • A number of local Australian banks have pushed out their timing of when the RBA starts its easing cycle further into 2025, focus will be on t Oct CPI in  Australia this week Wednesday.
  • The local calendar is empty today
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  • The AUD/NZD pushed higher for a fifth straight session, closing 0.31% higher at 1.1146. The cross made new multi-year highs and now eyes 1.1200, the cross briefly traded above 1.1200 back in 2022 and prior to day has not traded above that level since 2015.
  • We are currently trading in overbought territory at 71.8, while the MACD indicator has starting printing green bars.
  • The AU-NZ 2yr swap rose another 4bps on Friday, closing at +48.50bps. As the RBNZ & RBA rate forecast continues to diverge. The market is currently pricing in 96bps of cuts across the next two RBNZ meetings, while the market doesn't expected a cut from the RBA until July.
  • A number of local Australian banks have pushed out their timing of when the RBA starts its easing cycle further into 2025, focus will be on t Oct CPI in  Australia this week Wednesday.
  • The local calendar is empty today