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6 May 2015
AUD/NZD: Much higher now on softer NZ jobs market
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0575 with a high of 1.0590 and a low 1.0490.
AUD/NZD has rallied up through 1.05 the figure and extended yesterday's upside from 1.04 the figure, this time on data from NZD and speculation that the RBNZ will also need to think hard at the next meeting around as to whether to cut their interest rates also.
NZ released their jobs market data that came in softer than expected and this has sent the bird decisively lower today. NZD/USD has broken down through the 0.75 handle now, testing 0.7480 while the Aussie remains robust on the 0.79 handle boosted by the markets anticipation of a steady RBA next quarter around.
The market may need some time to settle down here and digest the Jobs data while not all within the data was terrible with there being some employment growth year on year. Nevertheless, technically, the cross remains well above the April lows when it was close to parity, with 1.04 being the main support ahead of 1.02 the figure while o the upside, there s plenty to play for with 1.0610/30 on the horizon.
AUD/NZD has rallied up through 1.05 the figure and extended yesterday's upside from 1.04 the figure, this time on data from NZD and speculation that the RBNZ will also need to think hard at the next meeting around as to whether to cut their interest rates also.
NZ released their jobs market data that came in softer than expected and this has sent the bird decisively lower today. NZD/USD has broken down through the 0.75 handle now, testing 0.7480 while the Aussie remains robust on the 0.79 handle boosted by the markets anticipation of a steady RBA next quarter around.
The market may need some time to settle down here and digest the Jobs data while not all within the data was terrible with there being some employment growth year on year. Nevertheless, technically, the cross remains well above the April lows when it was close to parity, with 1.04 being the main support ahead of 1.02 the figure while o the upside, there s plenty to play for with 1.0610/30 on the horizon.