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Back To Mid-August Lows

AUDNZD

AUD/NZD has continued to track lower for much of the session, with the NZD getting an extra kick from higher US equity futures, relative to the AUD this afternoon. The pair touched 1.1090, which is fresh lows back to mid-August. We have now stabilized somewhat, back to 1.1100, but remain below the 100 day-MA, which comes in at 1.1141.

  • Yield spread momentum has continued to trend in NZD's favor, post this morning's Q3 NZ CPI beat. The AU-NZ 2yr swap spread is now back to -120bps, lows back to mid April of this year. Spreads have moved -16bps so far today.

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