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Eyeing Post RBNZ Lows

AUDNZD

AUD/NZD is at fresh session lows of 1.1250. Note the pair dipped close to 1.1240 post RBNZ yesterday. If this level breaks the 1.1200 region will come into focus. NZD continues to outperform in the G10 space, with NZD/USD moving above post RBNZ highs, last at 0.5805/10. AUD/USD is getting dragged higher as well but is lagging the NZD by around 0.50% for the session.

  • Earlier, Australian August trade figures were mixed, with the trade surplus coming in slightly below expectations. We may have needed to see an upside surprise to drive higher AUD/NZD levels or greater stability in the pair.
  • NZ Finance Minister continues to speak but isn't shifting the sentiment needle to any great extent.
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