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AUDNZD: AUD/NZD Edges Slightly Lower Ahead Of AU CPI & RBNZ Tomorrow

AUDNZD
New ZealandBulletAPACForeign Exchange BulletsAustraliaMarkets
  • The AUD/NZD ended five straight sessions of gains on Monday, falling 0.18% to 1.1126. Focus will be all on the RBNZ tomorrow, a dovish tone from the bank could send the currency to 1.1200, levels not seen since 2022.
  • The monetary policy divergence has been growing recently, with the AU OIS market not pricing in a full cut until May 2025, and only 50bps of cumulative cuts through to November 2025, compared to 155bps more cuts from the RBNZ, which follows 50bps of cuts made already.
  • Just prior to the RBNZ tomorrow, Australia will released Oct CPI, consensus is for an uptick to 2.30% from 2.1% for September.
  • The AU-NZ 2yr swap continues to rise, closing another 4bps higher on Monday at +52bps, and we now hover just below multi-year highs made earlier this month of 57bps
  • The calendar is empty today
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  • The AUD/NZD ended five straight sessions of gains on Monday, falling 0.18% to 1.1126. Focus will be all on the RBNZ tomorrow, a dovish tone from the bank could send the currency to 1.1200, levels not seen since 2022.
  • The monetary policy divergence has been growing recently, with the AU OIS market not pricing in a full cut until May 2025, and only 50bps of cumulative cuts through to November 2025, compared to 155bps more cuts from the RBNZ, which follows 50bps of cuts made already.
  • Just prior to the RBNZ tomorrow, Australia will released Oct CPI, consensus is for an uptick to 2.30% from 2.1% for September.
  • The AU-NZ 2yr swap continues to rise, closing another 4bps higher on Monday at +52bps, and we now hover just below multi-year highs made earlier this month of 57bps
  • The calendar is empty today