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NZD to AUD Exchange Rate
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When converting New Zealand dollars (NZD) to Australian dollars (AUD), or AUD to NZD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers, are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives NZD and AUD currency conversion rates. NZD to AUD Overview: Australia is New Zealands biggest trading partner. Therefore the performance of the New Zealand economy and the NZD, is closely linked to the Australian economy and AUD. Due to this extremely close correlation, when compared to other currency pairs, the NZD to AUD exchange rate remains one of the most stable. More often than not, it is the interest rate differential between the two countries, that dictate the prevailing NZD to AUD exchange rate.
Current Official Cash Rates: Reserve Bank of New Zealand (RBNZ): 2.5% Reserve Bank of Australia (RBA): 2.75% NZD AUD Weekly Updates: Back to FX Updates Friday 17th May 4:20PM (NZT) - Update Both the NZD and the AUD have struggled against the USD this week, but overall the NZD has held up better than the AUD. This has seen the cross rate remain choppy but with an NZD upside bias. The stable outlook for NZ relative to Australia’s weakening economy, has seen buyers emerge on a number of occasions this week when the pair traded below 0.8280 (above 1.0277). While the pair remains above this level the risk is for further NZD gains, and a retest of the weeks high around 0.8350(lows 1.1976). These are however very good levels to be buying AUD with NZD relative to the last few years, and that means any further appreciation will be much slower than the gains we have seen over the last two months. The current interbank midrate is: NZDAUD .8302 AUDNZD 1.2045 The interbank range this week has been: NZDAUD .8272 - .8353 AUDNZD 1.1971 - 1.2089 Tuesday 14th May 3:15PM (NZT) This pair is currently trading sideways around 0.8300 (1.2050). Dips toward 0.8250 (rallies 1.2120) are finding buyers of NZ dollars, while tests toward 0.8350(1.1980) can’t be sustained at the moment. So NZ dollar is consolidating at these recent higher levels (AUD lower levels), and as long as the pair holds above 0.8225 (below 1.2160) ,the bias remains for a strong NZD. The stronger NZ economy relative to the softening outlook for Australia, should keep this bias over the medium term. There is little in the way of major data out in either economy for the remainder of the week.Therefore expect more sideways price action over the coming days.
Friday 10th May 2:20PM (NZT) - Update This pair has had a wild ride this week, with the action in both currencies. The pair saw a sharp move to a high of 0.8344 ( low 1.1980) after the RBA cut rates on Tuesday, before drifting back to consolidate just above 0.8300 (below 1.2050). Governor Wheelers talk of intervention saw the NZD under pressure and the pair quickly move down below initial support at 0.8250 (above resistance 1.2120), trading a low of 0.8224 (high 1.2160). With the NZ dollar having rallied strongly over the last eight weeks, this looked like the start of what could have been a deeper correction. However the strong NZ unemployment data put pay to that idea. and the pair recovered strongly back up toward 0.8300 (below 1.2050). The outlook from here will no doubt continue to be choppy, but as long as it holds above 0.8224 (below 1.2160) , the strong NZD demand looks to be a primary driver of this pair. The current interbank midrate is: NZDAUD .8302 AUDNZD 1.2045 The interbank range this week has been: NZDAUD .8244 - .8344 AUDNZD 1.1980 - 1.2160 Tuesday 7th May 5:15PM (NZT) The AUD has been under continued pressure lately, and that has seen the NZDAUD continue its slow march higher. It is currently cementing a move above 0.8300. Although these levels represent good selling relative to the last few years, I would be very hesitant to call any sort of top. There is no major technical resistance in the upside until 0.8570. The downside is protected by 0.8250 support ahead of 0.8200. There is potential for plenty of movement this week following the RBA rate announcement today, and looking forward to the NZ unemployment data on Thursday. Today’s RBA cut to the cash rate has further undermined the AUD. It will be interesting to see if this trend continues ahead of the both the NZ and Australian employment numbers on Thursday.
Friday 3rd May 2:20PM (NZT) - Update The NZDAUD has held firmly above 0.8250 this week, but has failed to have any serious attempt at 0.8300 on topside. Choppy trade between 0.8260 and 0.8290 has defined the week, and we head into the weekend with the cross at the upper end of that range thanks to some broad AUD weakness. This cross has come a long way over the last few months and is at very good levels relative to the last few years. However, picking tops (lows AUDNZD) in a rallying market is a dangerous game. With key employment data out on both side of the Tasman next week, as well as the RBA rate decison, there is plenty of potential for a decent move in either direction. The current interbank midrate is: NZDAUD .8290 AUDNZD 1.2063 The interbank range this week has been: NZDAUD .8250 - .8293 AUDNZD 1.2058 - 1.2120 Tuesday 30th April 4:15PM (NZT) Those waiting for a pullback in the NZD against the AUD have been sorely disappointed lately ,with the NZD relentlessly grinding higher for much of the past six weeks. The last five days have seen it establish a firm footing above 0.8250. A test of recent highs around 0.8290 seem likely. At some point a corrective from the NZD will no doubt happen, but the timing of such a move, and from what level remains uncertain. Against a backdrop of a relatively strong NZ economy, and a reasonably good chance of an RBA cut later in the year, the pressure seems to be to the upside. Ahead of the May 7th RBA monetary policy meeting, it looks increasingly likely that buying emerge on any pullback from the NZ dollar.
Friday 26th April 4:45PM (NZT) - Update The NZD has materially outperformed the Australian dollar this week. The demand for NZ dollars has been boosted by dual forces of lower than expected Australian inflation, and the reaction to the RBNZ monetary policy announcement. As the Australian interest rate markets continue to push for further cuts to the cash rate from the RBA, the pressure will likely stay on the Australian dollar. The NZD resistance (Australian dollar support) has been taken out, and it seems likely that the pair will establish a new range in the coming weeks. With only 2nd tier data in either economy next week, the focus will be increasingly on the RBA monetary policy meeting on the 7th of May. The current interbank midrate is: NZDAUD .8260 AUDNZD 1.2106 The interbank range this week has been: NZDAUD .8169 - .8280 AUDNZD 1.2077 - 1.2241 Tuesday 23rd April 6:15PM (NZT) This pair continues to trade at the upper NZD end of its recent range. The weak Chinese economic data will likely have larger impact on the Australian economy and this has been a factor in the recent pricing. From a risk vs return perspective, buying AUD with NZ dollars at current levels looks to offer value. The focus for the pair comes tomorrow (Wednesday) with the release of the RBNZ monetary policy announcement and the latest Australian inflation numbers. If the interest rate market looks to further increase odd of an imminent RBA easing to the cash rate, the pressure will stay on the AUD.
Friday 19th April 4:02PM (NZT) - Update This pair has traded a relatively contained range this week. Again the NZD has seen demand, and this saw the NZ dollar spending periods of time at the upper levels of its expected range. The increasing odds of a lower cash rate from the RBA has enabled the NZ dollar’s out performance. However, it has not been able to consolidate through resistance levels, and the pair has drifted back within its increasingly comfortable .8000 - .8200( 1.2200 - 1.2500) range. Next Wednesday offers the primary focus of next week for this pair. The RBA monetary policy statement comes ahead of the first quarter Australian inflation numbers. It seems likely that a surprise will be needed from either or these to to push the pair from its increasingly familiar recent range. The current interbank midrate is: NZDAUD .8175 AUDNZD 1.2232 The interbank range this week has been: NZDAUD .8133 - .8209 AUDNZD 1.2182 - 1.2296 Tuesday 16th April 4:42PM (NZT) Last week saw the NZ dollar push up to the top of its recent range against the Australian dollar. Weak Australian employment numbers aided what was increased demand for the New Zealand dollar across the board. The pair remains at what can be considered relatively fair levels, given the outlook for monetary policy from the respective central banks. The RBA minutes confirm they remain open to further easing of the cash rate if required, albeit they not at that point right now. It seems the pair will remain weighted in favour of the NZD in the short term. The NZ inflation number on Wednesday provides the primary focus for this pair in the short term.
Friday 12th April 2:02PM (NZT) - Update Increased NZ dollar demand has pushed it further towards the upper end of its recent range against the AUD. Broad based NZ dollar demand had seen it make solid headway even before yesterday’s weak Australian employment numbers, which provided an extra boost. Current levels offer good value buying of AUD with NZ dollars, albeit the pair still within recent ranges. Next week will see the RBA monetary policy meeting minutes on Tuesday, and the NZ inflation numbers on Wednesday provide the primary focus for this pair. The current interbank midrate is: NZDAUD .8188 AUDNZD 1.2213 The interbank range this week has been: NZDAUD .8064 - .8203 AUDNZD 1.2190 - 1.2400 Tuesday 9th April 4:51PM (NZT) The NZ dollar made steady ground against the Australian dollar last week. There were a number of factors adding to the increased NZD demand, including rumoured re-insurance demand and the setting of record dairy prices at Fonterra's latest Global Dairy Trade (GDT) auction. What made the NZD gains somewhat curious was the AUD supportive Australian economic data that came to light. It looks like the pair is getting up towards the end of a range that represents good value buying of AUD with NZ dollars. This week will see the Australian employment numbers offer the primary focus on Thursday.
Friday 5th April 4:28PM (NZT) - Update This pair remains just within its expected range this week. The NZ dollar has somewhat surprisingly outperformed the AUD this week. Positive Australian economic data has seen the increased NZD demand overshadow its influence. There have been rumours of re-insurance flow boost demand for the NZD and the price action certainly supports that. It seems likely that the current levels (right on .8080 resistance (1.2380 support) will prove to have offered good value buying of AUD overtime. With the undetermined influences currently at play, the concept of "averaging" is one to be considered in this pair. The current interbank midrate is: NZDAUD .8068 AUDNZD 1.2395 The interbank range this week has been: NZDAUD .8024 - .8073 AUDNZD 1.2386 - 1.2463 Tuesday 2th April 4:00PM (NZT) The NZ dollar saw some grinding appreciation against the AUD at the start of last week. The pair has now consolidated at this new level towards the upper end of the recent range. The pair has now spent almost a month contained in this current .7880 - .8080 ( 1.2375- 1.2700) range. This week sees the RBA monetary policy decision later today as a focus. Also in Australia is Wednesday's trade balance, and Thursdays building approvals and retail sales data. There is an absence of NZ economic data this week.
Tuesday 26th March 4:10PM (NZT) The New Zealand dollar saw appreciation against the Australian dollar last week. This performance came following the much stronger than expected 4th quarter NZ GDP number. However, after the initial leap the pair has settled down to trade a very contained range and this looks likely to continue this week. There is little in the way of material economic data in either economy, so expect the recent range to remain intact. Next week sees a return of focus in Australia with the RBA monetary policy announcement, building approval numbers and retail sales data. Current levels offer fair value for this pair, being towards the middle of the recent range.
Friday 22nd March February 4:15PM (NZT) - Update Trade for this pair has been relatively contained this week. Yesterday's surprisingly strong NZ GDP number provided a notable boost for the NZD and as a result the pair tested initial resistance at .8000 (support 1.2500). The subsequent pull back sees the pair at more comfortable levels given the RBA's confirmation of its "wait and see" approach to monetary policy. Next week should not offer too much in the way of surprises with little in the way of top tier economic news in either economy. The current interbank midrate is: NZDAUD .7980 AUDNZD 1.2531 The interbank range this week has been: NZDAUD .7914 - .7993 AUDNZD 1.2511 - 1.2636 Tuesday 19th March 3:58PM (NZT) The NZ dollar saw sustained pressure from the resurgent Australian dollar last week. It was a double whammy of increased AUD demand following the strong employment data, and increased NZD supply following the RBNZ monetary policy statement. The pair has stablised off the NZD lows, and the pair feels comfortable around current levels for the time being. Today's RBA monetary policy meeting minutes shed little in the way of new insight, and the focus now turns the belated 4th quarter NZ GDP number on Thursday. In the absence of a surprisingly weak NZ GDP number, current levels look to offer reasonably good value buying of AUD with NZ dollars.
Friday 15th March February 4:15PM (NZT) - Update This pair has seen the NZD under pressure this week as the RBNZ monetary policy statement and incredibly strong Australian employment numbers coupled to ensure the AUD outperformed. NZD support at .8000 (resistance 1.2500) contained the initial moves from the pair, before the onslaught of news materially increased demand for the AUD. Current levels offer very good value buying of NZD with AUD in my view. It remains very unlikely that the RBNZ would end up cutting the cash rate from its already emergency low 2.50%, and RBA will likely continue with their wait and see approach to monetary policy. Taking these factors into account, it seems likely the pair has established a NZD lower of the range (upper AUD). Next week the 4th quarter GDP number on Thursday will dominate focus in NZ. In Australia, Tuesday's release of the RBA monetary policy meeting minutes will be closely watched. The current interbank midrate is: NZDAUD .7912 AUDNZD 1.2639 The interbank range this week has been: NZDAUD .7888 - .8067 AUDNZD 1.2396 - 1.2677 Monday 11th March 4:01PM (NZT) The price action for this pair has been somewhat curious in the last week. The NZD has seen renewed pressure from the Australian dollar following the materially better than expected retail sales numbers in Australia on Tuesday. Not even the outstanding GDT auction results in NZ were enough to counter the increased AUD demand, and gains were consolidated following the as expected 4th quarter Australian GDP figure. The weaker Chinese numbers revealed over the weekend may see the AUD soften a bit as the news is digested today, and that maybe enough to see a rebound in fortunes from the NZD. Certainly the pair is moving back towards the lower NZD end of the range, and current levels offer better value buying of the NZ dollar with AUD.
Friday 8th March February 4:00PM (NZT) - Update The pair has traded a relatively contained and unexciting range this week. The NZ dollar initially saw demand to push up to the weeks highs, before the materially stronger than expected Australian retail sales numbers undermined that appreciation. The strong GDT auction results have not been quite enough for the NZD to hold its gains as numbers from China further support the AUD. So the pair remains in increasingly familiar ranges, and with the current levels looking to offer good value buying of NZD with AUD. The current interbank midrate is: NZDAUD .8060 AUDNZD 1.2407 The interbank range this week has been: NZDAUD .8055 - .8118 AUDNZD 1.2318 - 1.2415 Tuesday 5th March 4:53PM (NZT) This pair has traded a relatively contained and expected range over the last week. Certainly as expectations of near term easing from the RBA have reduced, any NZD appreciation has proven harder fought than in previous weeks. This week is all about the Australian economy and the RBA. Today's retail sales numbers further point towards a wait and see approach from the RBA in the short term. Tomorrow's GDP numbers are equally as important and will be closely watched. Certainly a surprise would be needed to see this pair move out of the recently established range.
Friday 1st March February 4:33PM (NZT) - Update After seeing some initial appreciation against the AUD to start this week, the New Zealand dollar has given ground to the AUD. This came as investor concerns grew surrounding the dry conditions in the North Island and its effects on NZ dairy exports. The economic news has had limited impact on the pair whose direction has predominantly been “flow“ driven and contained by the expected range. With the pair down towards levels where the NZ dollar should find support, the focus comes entirely from the important Australian economic news next week. Tuesdays RBA monetary policy statement will provide the primary focus ahead of the 4th quarter GDP number on Wednesday. The current interbank midrate is: NZDAUD .8086 AUDNZD 1.2367 The interbank range this week has been: NZDAUD .8058 - .8153 AUDNZD 1.2265 - 1.2410 Tuesday 26th February 3:53PM (NZT) This pair had traded a relatively contained range in the last week. The NZD was tipped from its highs following a warning from RBNZ Governor Wheeler about its elevated levels. This contrasted rhetoric from RBA Governor Stevens and has been enough to push the pair back to seemingly more comfortable levels. The AUD weakness that followed yesterday’s weak Chinese manufacturing numbers could not be sustained, and the pair looks likely to trade a relatively narrow range as the focus returns to issues external to Australasia in the short term at least.
Friday 22nd February 4:36PM (NZT)- Update It has been an interesting week for this pair. It has seen the establishment of an upper NZD (lower AUD) end of what should be a new range for the pair. The inability of the pair to consolidate through the .8200 (1.2200) level, has seen pair investigate lower NZD levels following separate speeches from the respective central bankers. RBNZ Governor Wheeler pushed the NZD lower and today's testimony from RBA Governor Steven's seems to have caught the market "sold AUD" and a scramble to buy back AUD has ensued. Support at .8100 (1.2350 resistance) has held so far, and this level holds the key to direction in the short term. Next week sees the primary focus come from the Australian capital expenditure numbers, whilst the balance of the data releases should be of limited overall impact. The current interbank midrate is: NZDAUD .8130 AUDNZD 1.2300 The interbank range this week has been: NZDAUD .8101 - .8220 AUDNZD 1.2166 - 1.2344 Tuesday 19th February 3:50PM (NZT) The NZ dollar remains close to its two and half year highs against the Australian dollar. Last week's strong NZ retail sales number provided the latest impetus for the NZD to outperform. This week will likely see the pair start to consolidate at these new levels in the absence of top tier economic data in either economy. With respective central bank governors both speaking, the chance of "verbal" intervention remains a prospect on both sides of the Tasman. Given the significant gains the NZD has made against its trading partners in the last couple of months, the effects on the export sector are likely to emerge in the coming months. Today's RBA monetary policy meeting minutes show the RBA remained poised to ease the 3.00% cash rate lower if required, but it by no means is a foregone conclusion. Current levels therefore offer good value buying of AUD with NZ dollars, albeit the opportunity maybe on going in the coming months.
Friday 15th February 6:36PM (NZT)- Update The NZ dollar has continued its grind higher against the Australian dollar this week. Consolidation through the .8100 level has opened the way for the appreciation and the highs were set following today's impressive 4th quarter NZ retail sales numbers. The NZD appreciation has surprised somewhat, given the recent NZ employment numbers, that have been largely dismissed by this move. The pair is now at levels not seen since 2010, and at the risk of sounding like a broken record, further appreciation will be tougher for the NZD from these elevated levels. Australia remains New Zealand's number one trading partner and appreciation will directly effect markets in Australia for NZ exporters. The interest rate markets have moved forward the timing of cash rate hikes from the RBNZ and this supports the week's appreciation. Potentially the market has got ahead of it self, and if that proves to be the case, then current levels offer great value buying of AUD with New Zealand dollars.
Tuesday 12th February 5:50PM (NZT) The NZD remains in demand against the recent beleaguered AUD. However, the demand was not all one way last week, with the NZD under considerable pressure immediately following the weak NZ employment numbers. The pair remains right on the NZD resistance (AUD support ) levels, and a consolidated break of this would open up the way for further NZD appreciation. This would appear to be a step too far this week in the absence of any major Australian economic news, and just the NZ retail sales numbers on Thursday to provide a focus. Whilst the RBA leave the option open for further easing to the cash rate, the NZ dollar is likely to see demand against the AUD. Further appreciation from current levels should prove harder fought than its previous gains.
Friday 8th February 2:36PM (NZT)- Update It has been a very interesting week for this pair, with significant economic news on both sides of Tasman. The break of the resistance at .8050 (support 1.2420) has opened up the way for the pair to consolidate into a new range. Whilst the NZD has had its share of negative news, the Christchurch rebuild seems to be starting to provide an economic boost to support the wider economy. Unless uncertainly again balloons in Europe, it seems unlikely that the RBNZ will be changing the cash rate in the near term. This outlook contrasts that of the RBA, who left the door wide open for further stimulus if needed(read talk the AUD lower). Whilst commodity prices have recovered somewhat from the 2012 lows, a lower peak in mining investment will drag on sentiment in the Australian economy. The current levels, and above, offer great value buying of AUD with NZ dollars. Patience will offer opportunities for those looking to buy NZD with AUD at lower levels in the coming months. The current interbank midrate is: NZDAUD .8113 AUDNZD 1.2326 The interbank range so far this week to date has been: NZDAUD .8067 - .8168 AUDNZD 1.2242 – 1.2397 Tuesday 5th February 6:10PM (NZT) It has been a curious week for this pair as the NZ dollar has seen increased demand and broken through resistance to move to higher levels against the AUD. The move following the seemingly benign RBNZ statement last week was surprising to say the least. At its peak the NZD moved to .8140 (1.2285) and the .8150 (1.2270) level now constitutes resistance for the pair. As today’s RBA decision approached the market pared back expectations for an easing from around 40% to 15% and this saw the AUD regain some of its lost ground and the pair hovered at the former resistance of .8050 (1.2420) as the decision was released. The unchanged cash rate 3.00% was always likely with the improved global sentiment in the last month. The RBA have unsurprisingly left the door open for a further easing should conditions change in the coming months. The AUD has seen some renewed pressure following the announcement and the following sessions will prove crucial to the near term direction. Current levels will likely prove to have offered great value buying of AUD with NZD dollars over time.
Friday 1st February 12:15PM (NZT) The NZ dollar has again outperformed the AUD for the most part this week. In the absence of top tier economic data in Australia, the RBNZ has provided the primary focus for this pair. Somewhat surprisingly, the market seems to taken the statement accompanying the unchanged monetary policy decision as having a bias towards tightening monetary policy (increasing the cash rate). To my mind it seems unlikely to eventuate in 2013, but with a chance of the easing from the RBA next Tuesday, the cash rate differentials may widen at any rate. Following today’s speech from the RBNZ Governor, the pair has now pushed to the extremes of what has recently been a comfortable trading range. These levels may well prove to have offered good value buying of AUD with NZD dollars over time. Expect the market to remain volatile ahead of the RBA decision on Tuesday. The current interbank midrate is: NZDAUD .8080 AUDNZD 1.2542 The interbank range so far this week to date has been: NZDAUD .7973 - .8080 AUDNZD 1.2376 – 1.2542 Tuesday 29th January 4:55PM (NZT) This pair remains in an increasingly familiar range, although up towards upper New Zealand dollar end of it. The two central bank meetings in the coming weeks are unlikely to see any policy changes and therefore its seems likely that this current range will continue for some time yet. The RBNZ meeting on Thursday provides the focus for the week. We may see increasing periods of NZ dollar softness as investors look to take profit on the recent NZD gains ahead of the RBNZ statement accompanying what will be an unchanged cash rate decision. The RBA meeting next week presents a slightly less certain proposition. It is likely that the decision will leave the cash rate unchanged at 3.00%, but the risk is that we see a further easing at 2.75%.
Friday 25th January 3:55PM (NZT) It has been a very interesting week for this pairing. The lower than expected Australian inflation number has provided the drive for the AUD to underperform pairing to move up towards the upper end of the range (lower end AUDNZD). The increased chances of an easing at the RBA meeting on the 5th has undermined AUD demand. An easing seems unlikely to my mind, given the increased global sentiment and solid numbers from China in 2013. This would indicate that the current levels offer good value buying of the AUD with NZ dollars. For those looking to move AUD into NZD, a staggering of transfers would be advisable at this time. The current interbank midrate is: NZDAUD .8013 AUDNZD 1.2180 The interbank range so far this week to date has been: NZDAUD .7938 - .8019 AUDNZD 1.2470 – 1.2598 Tuesday 22nd January 3:55PM (NZT) This pair continues to trade a very small and familiar range. The .7900 - .8000 (1.2500 - 1.2660) range will likely contain the action again this week as the pair consolidates around what can be considered as fair value levels. Short term expectations from the central banks have not altered materially in the last few weeks, even after the low NZ inflation number last week. This week’s focus is squarely placed on Wednesday’s Australian inflation number. Anything above the +.4% expectation would likely see the AUD outperform, as unlikely as it is. The RBNZ monetary policy announcement on Thursday next week will garner attention, but likely be of limited impact to the price action.
Tuesday 15th January 4:55PM (NZT) This pair remains in what has become familiar territory of late. This pair remains a function of the cash rate expectations over the short to medium term, and the current rate is comfortable with the stable expectations of the RBNZ and easing bias for the RBA. Expect the recent .7900 - .8000 range to remain in place for the short term. The employment numbers in Australia on Thursday represent the main event risk for the week, with the NZ inflation number likely to be of limited impact.
Friday 21st December 2012 1:10PM (NZT)The NZ dollar has not been able to hold onto its considerable recent gains this week. As expected the pair did not last much over the .8000 (under 1.2500), and the pair has consolidated back down below that levels and looks far more comfortable. The weak Q3 NZ GDP number aided the move that was already well under way. In the short term expect the pair continue to trade at the mid to upper end of the wider .7800-.8000 (1.2500 – 1.22820) comfortable range. Anecdotal evidence is quite gloomy in the Australian economy, but the numbers continue to hold up. Whilst this is the case the NZD will continue to find ample supply in forays above .8000 (below 1.2500). The current interbank midrate is: NZDAUD .7958 AUDNZD 1.2566 The interbank range so far this week to date has been: NZDAUD .7950 - .8025 AUDNZD 1.2461 – 1.2579 Tuesday 18th December 2012 5:10PM (NZT) The NZ dollar has continued to see demand over the last week and this has seen the pair push to the upper end of the NZD range. In the absence of any material economic news, the demand has simply been flow driven and was accentuated by lower levels of liquidity as we approach the end of the year. The RBA monetary policy meeting minutes have seen a little pressure placed on the NZD, as AUD demand perked up a little. Now the focus turns to the NZ current account tomorrow and 3rd quarter GDP numbers on Thursday. Current levels and above constitute great value buying of AUD.
Tuesday 11th December 2012 3:45PM (NZT) The NZ dollar gained value against the Australian dollar last week. The balanced RBNZ monetary policy statement provided the driving force as offshore investors scrambled to exit “sold NZD” positions. This eased the NZD up towards the higher end of its recent trading range. Further appreciation for the NZD is not guaranteed, and certainly the resistance at .8000 (AUD 1.2500 support) should cap any further demand. The pair looks good value buying of AUD with NZD at current levels.
Monday 3rd December 2012 4:52PM (NZT) This pair saw another week of relatively tight ranges, with the majority of the lead being driven by moves in the wider market. The domestic focus returns this week, with both central banks in action and a myriad of top tier economic news due for release in Australia. The RBA announce monetary policy tomorrow and RBNZ on Thursday, with the RBA expected to ease the cash rate 25pts to 3.00%. There seems little chance of movement from the RBNZ, although some commentators have continued to talk about further policy accommodation. Australian GDP on Wednesday and employment numbers Thursday provide the wider focus for what will be a very interesting week. It would take some kind of materially surprising outcome to see the pair break from the wider .7800 - .8000 (1.2500 - 1.2820) range.
Tuesday 27th November 2012 4:42PM (NZT) This pair has seen a very muted range over the last week, in the absence of any game changing economic data. This week will likely see a continuation of this directionless trade as the market readies itself for the respective central bank monetary policy announcements next week. Also in Australia next week we get the latest numbers on retail sales, building approvals, GDP and employment. By the end of next week the outlook should be much clearer for what is on the cards for this pair in the first quarter of 2013. Current levels look to offer reasonably fair value, and offer a good opportunity for the risk adverse ahead of next week.
Tuesday 20th November 2012 3:56 PM (NZT) The NZ dollar saw further pressure from the AUD following last week’s poor Q3 NZ retail sales numbers. The market moved to increase the odds of a cut to the NZ cash rate from the RBNZ and the pair adjusted accordingly. This week has seen a return of the markets senses and the pair now sits comfortably back in it’s recent range. This sits comfortably with the NZ interest rate market that has not reversed the moves lower, that followed last week’s retail sales result. The strong BNZ Services survey October result looks to have initiated the demand, and a scrambling to buy NZ dollars has ensued. Today’s RBA minutes revealed little of new insight, and the market remains weighted slightly towards a further easing to the Australian cash rate to 3.00% on December 6th. The Global Dairy Trade results could impact NZD demand in the offshore session today, and will be closely watched by the market.
Tuesday 13th November 2012 4:55 PM (NZT) Last week was significant for this pair. The decision from the RBA to hold off easing their cash rate to 3.00%, was followed by the disappointing NZ employment numbers. The upshot was the NZ dollar was pressured down through what had recently become reasonably strong support levels. The .7800 (1.2820) level has held for the time being, but certainly a renewed air of vulnerability has returned to the NZ dollar. However, it is probable that the .7800 (1.2820) level will cap further AUD appreciation. The prospect of an easing at the next RBA monetary policy meeting should provide enough of a cushion for the NZ dollar from the current levels. NZ retail sales numbers on Wednesday provide the data focus for the week, with a +.4% increase in activity expected. Buying NZD with AUD around current levels should prove worthwhile over time. This assuming expectations for a cut from the RBNZ do not irrationally increase in the short term.
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