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AUD/NZD losses momentum, back under 1.0800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - AUD/NZD dropped sharply after the RBNZ decision and then bounced to the upside after the release of the Australian jobs report. During the last hours it lost strength and dropped back below 1.0800.

    Between RBNZ and Australian data

    After the decision of the central bank of New Zealand to cut the reference rate by 25 basis points and signaled that the easing process might be done for some months, the kiwi jumped in the market pushing AUD/NZD from 1.0865 to 1.0705, the lowest level since November 2.

    From the lows it rebounded after better-than-expected data from Australia. The recovery was capped by 1.0840. Currently it trades at 1.0785/90, almost two hundred pips below the level it had 24 hours ago.

    "This “strong” Australian employment report offsets somewhat the AUDNZD dip to 1.071 due to the RBNZ forgetting to jawbone the currency lower along with the expected rate cut to 2.5% (i.e. the absence of a clear easing bias via unchanged forward guidance on rates, our view here)”, wroted analysts from TD Securities.

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