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AUDNZD Australian Dollar vs New Zealand Dollar

1.08199
-0.0001 (-0.01%)
25 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Australian Dollar vs New Zealand Dollar FX:AUDNZD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.0001 -0.01% 1.08199 1.08146 1.08252 1.08205 1.08199 1.08204 0 02:08:34

NZ Dollar Rises After RBNZ Holds Rate

10/04/2024 4:40am

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AUD vs NZD (FX:AUDNZD)
Forex Chart


From Mar 2024 to May 2024

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The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday after New Zealand's central bank left its benchmark rate unchanged for the sixth straight session as widely expected, as higher rates help to bring inflation to the target range.

The Monetary Policy Committee of the Reserve Bank of New Zealand, governed by Adrian Orr, decided to hold the Official Cash Rate at 5.50 percent.

Traders remain cautious ahead of the release of closely watched key U.S. inflation data, which could have a significant impact on the outlook for interest rates.

The inflation data could have a significant impact on the outlook for interest rates, as U.S. Fed officials have repeatedly said they need greater confidence that inflation is slowing before cutting rates.

Wednesday will also see the release of the minutes of the Fed's latest monetary policy meeting, which could also shed additional light on officials' thinking on rates.

In the Asian trading today, the NZ dollar rose to more than a 3-week high of 1.7858 against the euro and an 8-day high of 1.0897 against the Australian dollar from yesterday's closing quotes of 1.7913 and 1.0936, respectively. If the kiwi extends its uptrend, it is likely to find resistance around 1.77 against the euro and 1.07 against the aussie.

Against the U.S. dollar and the yen, the kiwi advanced to near 3-week highs of 0.6079 and 92.25 from Tuesday's closing quotes of 0.6059 and 91.96, respectively. The kiwi may test resistance around 0.62 against the greenback and 93.00 against the yen.

Looking ahead, U.S. mortgage approvals data, Canada building permits for February, U.S. CPI data for March, Wholesale inventories for March and U.S. EIA crude oil data are due to be released in the New York session.

At 9:45 am ET, Bank of Canada will announce its key policy interest rate and Monetary Policy Report. The bank expects the key policy interest rate to remain unchanged at 5 percent.

At 12:45 pm ET, Federal Reserve Bank of Chicago President Austan Goolsbee will participate in panel before the Social Finance Institute, in Omerville, France.

At 2:00 pm ET, Federal Open Market Committee issues minutes from its meeting of March 19-20, 2024. At the same time, the U.S. Federal budget balance report for the month of March is also due to be released.

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