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AUDNZD: AUD/NZD Continues Rangebound Trading, AU-NZ 2yr Swap Near Highs

AUDNZD
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  • The AUD/NZD is last 1.1054, down 0.05% and remains trading within the past 3 month ranges of 1.100 -1.1100, while the AU-NZ 2yr swap remains trading near it's highest levels for the past year. There is little on both local calendar for the next week, which will likely see the pair remain trading in current ranges.
  • Initial resistance is 1.1100 (round number), with a break here opening a move to 1.1150 (July Highs), to the down side a break below 1.1000/05 (Round number/100-day EMA) would open a move to 1.0959 (200-Day EMA).
  • RBNZ dated OIS currently pricing in 55bps of cuts at the Feb meeting, while RBA Dated OIS is pricing in a 73% chance of a 25bps cut in Feb.
  • S&P Global Australia PMI Mfg just came out at 47.8 down from 48.2 prior, the reading has come in roughly in the middle of the past year and a half's numbers.
  • The local calendar is empty for the remainder of the week

Chart. AUD/NZD vs AU-NZ 2yr Swap

audnzdv2yrswap
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  • The AUD/NZD is last 1.1054, down 0.05% and remains trading within the past 3 month ranges of 1.100 -1.1100, while the AU-NZ 2yr swap remains trading near it's highest levels for the past year. There is little on both local calendar for the next week, which will likely see the pair remain trading in current ranges.
  • Initial resistance is 1.1100 (round number), with a break here opening a move to 1.1150 (July Highs), to the down side a break below 1.1000/05 (Round number/100-day EMA) would open a move to 1.0959 (200-Day EMA).
  • RBNZ dated OIS currently pricing in 55bps of cuts at the Feb meeting, while RBA Dated OIS is pricing in a 73% chance of a 25bps cut in Feb.
  • S&P Global Australia PMI Mfg just came out at 47.8 down from 48.2 prior, the reading has come in roughly in the middle of the past year and a half's numbers.
  • The local calendar is empty for the remainder of the week

Chart. AUD/NZD vs AU-NZ 2yr Swap

audnzdv2yrswap