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NZD: AUD/NZD break Back Above 1.0900, RBA's Jones To Speak

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  • The AUD/NZD edged higher closing up 0.33% at 1.0923 on Tuesday. The cross has managed to break above initial resistance and out of the recent ranges it had been trading in since late August.
  • Initial resistance is now seen at 1.0963 (Aug 8 highs) a break here would open a move back to 1.1000. To the downside support is now 1.0900, while the 20 & 200-day EMAs at 1.0890/80 are the next supports
  • RBA dated OIS pricing is little changed heading into year-end, with 22bps of cuts priced in. Looking further out through to July next year we have 100bps of cuts priced in, in contrast to 202bps in NZ & 236bps in the US.
  • The AU-NZ 2yr swap spread fell 4bps on Tuesday to close at -1bps.
  • Expiries: 1.0925 ($200m) Sep 18, 1.0900 ($602.75m) & 1.111 ($234.02m) for Sept 19
  • Today, RBA's Assistant Gov Brad Jones will speak at 0920 AEST / 0720 HKT followed by the Westpac Leading Index at 1030 AEST / 0800  HKT
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  • The AUD/NZD edged higher closing up 0.33% at 1.0923 on Tuesday. The cross has managed to break above initial resistance and out of the recent ranges it had been trading in since late August.
  • Initial resistance is now seen at 1.0963 (Aug 8 highs) a break here would open a move back to 1.1000. To the downside support is now 1.0900, while the 20 & 200-day EMAs at 1.0890/80 are the next supports
  • RBA dated OIS pricing is little changed heading into year-end, with 22bps of cuts priced in. Looking further out through to July next year we have 100bps of cuts priced in, in contrast to 202bps in NZ & 236bps in the US.
  • The AU-NZ 2yr swap spread fell 4bps on Tuesday to close at -1bps.
  • Expiries: 1.0925 ($200m) Sep 18, 1.0900 ($602.75m) & 1.111 ($234.02m) for Sept 19
  • Today, RBA's Assistant Gov Brad Jones will speak at 0920 AEST / 0720 HKT followed by the Westpac Leading Index at 1030 AEST / 0800  HKT