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NZD: AUD/NZD Edges Higher, Remains Within Recent Ranges, 1.0900 Major Resistance

NZD
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  • The AUD/NZD closed Friday up 0.14% at 1.0888, with the cross finished the week up 0.80% however has remained rangebound between 1.0800 - 1.0900 since Aug 23.
  • The cross is trading just above both the 20 & 200-day EMA of 1.0881/83 with eyes now on 1.0900, a break here would likely see a test of 50 & 100-day EMA at 1.0915/20. To the downside support rests at the September lows of 1.0800.
  • RBA dated OIS firmed slightly on Friday with 21bps of cuts now priced into year-end, up 4bps from Thursday. The Feb meeting is now pricing in 42.5bps of cuts and 100bps of cuts by August 2025
  • The AU-NZ 2yr swap spread rose 1bps on Thursday to close at 1.5bps.
  • Expiries: 1.1350 ($725.88m), 1.1250 ($365.67m), 1.1200 ($500m) for Sept 16  
  • The calendar is empty today
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  • The AUD/NZD closed Friday up 0.14% at 1.0888, with the cross finished the week up 0.80% however has remained rangebound between 1.0800 - 1.0900 since Aug 23.
  • The cross is trading just above both the 20 & 200-day EMA of 1.0881/83 with eyes now on 1.0900, a break here would likely see a test of 50 & 100-day EMA at 1.0915/20. To the downside support rests at the September lows of 1.0800.
  • RBA dated OIS firmed slightly on Friday with 21bps of cuts now priced into year-end, up 4bps from Thursday. The Feb meeting is now pricing in 42.5bps of cuts and 100bps of cuts by August 2025
  • The AU-NZ 2yr swap spread rose 1bps on Thursday to close at 1.5bps.
  • Expiries: 1.1350 ($725.88m), 1.1250 ($365.67m), 1.1200 ($500m) for Sept 16  
  • The calendar is empty today