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AUDNZD: AUD/NZD Little Changed, Testing 50 & 100-day EMA Resistance

AUDNZD
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  • The AUD/NZD closed 0.08% lower at 1.0914 on Friday, the currency traded sideway heading into the end of the week and stuck between the 50 & 100-day EMA to the upside, and 20 & 200-day EMA to the down side
  • Focus will turn to RBA meeting tomorrow, where they are expected to keep rates on hold at 4.35%. Today we have Judo Bank PMI data, although this is not expected to move prices.
  • Initial resistance is now seen at 1.0945 (19 Sept High) a break here would open a move back to 1.1000. To the downside support is the 20 & 200-day EMAs at 1.0885/95 area, below here 1.0800 (Sep 6 lows)
  • RBA dated OIS pricing has cooled following the strong employment data on Thursday, with 17bps of cuts priced into year-end or about a 50% chance of a cut. The first cut is still expected in February with 36bps currently priced and 4 cuts into July next year.
  • The AU-NZ 2yr swap spread is little changed on Friday at 5.5bps, holding near the highs since mid-August.
  • Expiries: 1.0975 ($255.12m), 1.085 ($258.06m) for Sept 27
  • Today, we have Judo Bank PMI at 9:00am AEST
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  • The AUD/NZD closed 0.08% lower at 1.0914 on Friday, the currency traded sideway heading into the end of the week and stuck between the 50 & 100-day EMA to the upside, and 20 & 200-day EMA to the down side
  • Focus will turn to RBA meeting tomorrow, where they are expected to keep rates on hold at 4.35%. Today we have Judo Bank PMI data, although this is not expected to move prices.
  • Initial resistance is now seen at 1.0945 (19 Sept High) a break here would open a move back to 1.1000. To the downside support is the 20 & 200-day EMAs at 1.0885/95 area, below here 1.0800 (Sep 6 lows)
  • RBA dated OIS pricing has cooled following the strong employment data on Thursday, with 17bps of cuts priced into year-end or about a 50% chance of a cut. The first cut is still expected in February with 36bps currently priced and 4 cuts into July next year.
  • The AU-NZ 2yr swap spread is little changed on Friday at 5.5bps, holding near the highs since mid-August.
  • Expiries: 1.0975 ($255.12m), 1.085 ($258.06m) for Sept 27
  • Today, we have Judo Bank PMI at 9:00am AEST