March 15, 2023 22:17 GMT
NZD has extended losses in recent dealing, after the soft Q4 GDP print.
- AUD/NZD has breached yesterday's high, and is up ~0.5%, resistance has been seen at $1.0770. The cross last prints at $1.0740/50 up ~0.5%.
- NZD/USD is now down ~0.6%, support was seen at $0.6140.
- In the rates space RBNZ dated OIS has softened, with 10bps of hikes now priced into the April meeting. Terminal OCR expectations drop to 5.08%, well below the RBNZ's projected OCR peak of 5.50%.