DirectFX-phone-number-and-phone-image3.gif

p_7_top.jpg

Get a free Quote

Name
Email
Phone
From CCY
To CCY
Amount
Message
please type the characters you see:
(spam filter)
spam control image
 
p_1_top.gif

Apply now

Obligation free account and currency commentary btn_apply_for.gif
p_1_bottom.gif
Browse By Topic

FX News

Most recent FX News:

Read more

Further range trading for the NZD vs AUD pairing.

Written by Sam Coxhead on September 7th, 2012.      0 comments

1:54 PM (NZT) This pair has continued to trade within its recent contained range. The NZ dollar started the week stronger as the weak Chinese data impacted demand for the AUD more so than the Kiwi. The unchanged RBA monetary policy saw the AUD in demand as investors who had been looking for a surprise cut to the cash rate, scrambled a little to cover sold AUD positions. Then news of the increased Fonterra diary auction prices hit the headlines, and the NZD saw some good demand. Again the resistance at the .7800 (support 1.2820) remains steady. The interest rate market is still looking for further easing from the RBA in the coming months, and this will likely see the NZD cushioned on any softness in the near term. The pair does seem comfortable in the .7720 - .7800 range (1.2820 – 1.2950) for the time being and this will likely continue next week.
 
The current interbank midrate is:                                                            NZDAUD .7780                            AUDNZD 1.2853
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7733 - .7804             AUDNZD  1.2814 - 1.2932
Topics: NZD AUD
 

Comments