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AUDNZD: AUD/NZD Remains Rangebound, RBA Financial Stability Review Today

AUDNZD
APACAustraliaNew ZealandBulletGlobalForeign Exchange BulletsRegionMarkets
  • The AUD/NZD rose 0.23% to 1.084  on Wednesday as some of the euphoria around the China Stimulus faded. Today we have the RBA Financial Stability review, while focus int he region will be largely on the BoJ minutes.
  • The OIS pricing cooled a touch post Wednesday CPI numbers, with 18bps of cuts being priced for this year, or about a 50% chance of a cut by December. The market firmed slightly looking out to the August 2025 meeting with 111bps of cuts now priced.
  • The cross remains trading in a very tight range, stuck between the 50 & 100-day EMAs to the upside, and the 20 & 200-day EMAs to the down side, an area we have spent the past two weeks trading between. Initial resistance is at 1.0914 with major resistance seen at 1.0944 (Sep 23/24 Highs), while to the downside initial support is 1.0860 area, with a break here opening a move to the September lows of 1.0789.
  • The AU-NZ 2yr swap spread was little changed on Wednesday at 6bps
  • Expiries: 1.0975 ($255.12m), 1.085 ($258.06m) for Sept 27
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  • The AUD/NZD rose 0.23% to 1.084  on Wednesday as some of the euphoria around the China Stimulus faded. Today we have the RBA Financial Stability review, while focus int he region will be largely on the BoJ minutes.
  • The OIS pricing cooled a touch post Wednesday CPI numbers, with 18bps of cuts being priced for this year, or about a 50% chance of a cut by December. The market firmed slightly looking out to the August 2025 meeting with 111bps of cuts now priced.
  • The cross remains trading in a very tight range, stuck between the 50 & 100-day EMAs to the upside, and the 20 & 200-day EMAs to the down side, an area we have spent the past two weeks trading between. Initial resistance is at 1.0914 with major resistance seen at 1.0944 (Sep 23/24 Highs), while to the downside initial support is 1.0860 area, with a break here opening a move to the September lows of 1.0789.
  • The AU-NZ 2yr swap spread was little changed on Wednesday at 6bps
  • Expiries: 1.0975 ($255.12m), 1.085 ($258.06m) for Sept 27