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A good time to buy NZD with Australian dollars

Written by Sam Coxhead on April 27th, 2012.      0 comments

6:13 PM (NZT)  What an interesting week it has been for this pairing. The AUD has outperformed the NZD even as the materially lower than expected inflation numbers all but confirm that the RBA will cut the cash rate next Tuesday. The NZD was lacking demand even before the RBNZ Governor Bollard took a shot at the level of the NZD in the statement accompanying his unchanged monetary policy decision yesterday. But the pairing has stablised as expected at the .7830 (1.2770) level, and this would represent good value buying of NZD in my opinion. There is little or no chance at this stage that the RBNZ’s next cash rate move will be lower. The focus  for Australia next week is the RBA monetary policy decision on Tuesday, and subsequent quarterly statement of Friday. In New Zealand the focus is squarely on the employment numbers on Thursday.
 
The current interbank midrate is:                                                            NZDAUD .7840                            AUDNZD 1.2755
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7823 - .7919             AUDNZD  1.2628 - 1.2783
 

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