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Highest Since Late June, $1.09 Caps Gains

AUDNZD

AUD/NZD printed its highest level since 30 June, the cross rose after the AUD outperformed in the G-10 space in lieu of yesterday's Australian Labour Market Report.

  • The pair last prints at $1.0870/80 and is little changed in this morning's trade. AUD/NZD rose ~0.6% on Thursday, resistance was seen at the $1.09 handle and gains were marginally pared.
  • Rate differentials, observed via 2-Year swaps, ticked marginally wider yesterday and sit at -110bps.
  • Bulls look to break yesterday's high ($1.0901), this opens the high from 21 June ($1.1017).
  • On the downside bears immediate focus is on the 200-Day EMA ($1.0846), a break through here opens the low from 17 July ($1.0725).
  • The local dockets in both Australia and New Zealand are both empty today.
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