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Subdued trade for the NZDAUD ahead of the RBA next week.

Written by Sam Coxhead on November 2nd, 2012.      0 comments

3:25 PM (NZT) It has been a relatively uneventful week for this pair. The majority of the trading has been within a very contained range. It has just been in the last 24 hours that we have seen some solid demand for the NZ dollar push the pair a little further in the NZ dollars favour, whilst it stays well within its expected range. The appreciation of the NZD may continue ahead of the RBA meeting on Tuesday.
Do not expect too much movement from this pair in the short term, with the recent band .7880 - .7980 (1.2530 – 1.2700) likely to contain the trading range for some months yet. Next week the focus comes from the RBA monetary policy meeting on Tuesday, and the respective 3rd  quarter employment reports Thursday.
 
The current interbank midrate is:                                                             NZDAUD  .7950                 AUDNZD 1.2579
                                                                                         
The interbank range so far this week to date has been:                 NZDAUD .7898 - .7961    AUDNZD 1.2561 – 1.2661
Topics: NZD AUD
 

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