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AUDNZD: AUD/NZD Edges Slightly Higher Post NZ CPI, RBA Hunter To Speak

AUDNZD
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  • AUD/NZD fell slightly on Tuesday, closing the session down 0.12% at 1.1019 although we has since entire reversed those moves following NZ CPI falling to the lowest level since July 2021.
  • Although the cross has seen a small reversal over the past few sessions it remains above all key moving averages and in an upward trend, key resistance is seen at 1.1100, with a break here opening a move to test yearly highs at 1.1144 (July 29 highs). To the downside, support is at 1.1013 (61.8% of the July 30-Sep 6 move), with a break here opening a move to test 1.0990 (20-day EMA).
  • RBA dated OIS pricing is little changed with the market seeing just a 29% chance of a 25bps cut this year. While pricing has firm a touch over the past day with 80bps of cuts through to September 2025, with the first full cut not until April.
  • The AU-NZ 2yr swap spread rose 5bps on Tuesday to 26bps it has continued the move higher post NZ CPI to 28bps.
  • Expiries: 1.125 ($691m), 1.095 (400m) for July 17th
  • Today, RBA's Hunter will speak at 0900 AEST, followed by Westpac Leading Index at 1030 AEST.
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  • AUD/NZD fell slightly on Tuesday, closing the session down 0.12% at 1.1019 although we has since entire reversed those moves following NZ CPI falling to the lowest level since July 2021.
  • Although the cross has seen a small reversal over the past few sessions it remains above all key moving averages and in an upward trend, key resistance is seen at 1.1100, with a break here opening a move to test yearly highs at 1.1144 (July 29 highs). To the downside, support is at 1.1013 (61.8% of the July 30-Sep 6 move), with a break here opening a move to test 1.0990 (20-day EMA).
  • RBA dated OIS pricing is little changed with the market seeing just a 29% chance of a 25bps cut this year. While pricing has firm a touch over the past day with 80bps of cuts through to September 2025, with the first full cut not until April.
  • The AU-NZ 2yr swap spread rose 5bps on Tuesday to 26bps it has continued the move higher post NZ CPI to 28bps.
  • Expiries: 1.125 ($691m), 1.095 (400m) for July 17th
  • Today, RBA's Hunter will speak at 0900 AEST, followed by Westpac Leading Index at 1030 AEST.