AUD/NZD holds above a critical area ahead of key data this week

  • AUD/NZD is consolidated at a key area following a choppy day on Wall Street.
  • Key data is on the cards for the week.

The Kiwi is under pressure despite the US Consumer Price index data, which raises questions about when the Federal Reserve might taper. However, despite that, markets were keen to fade US dollar weakness, especially against AUD and NZD. This leaves AUD/NZD floundering after last week’s break and it is right on a key level at this juncture, as analysts at ANZ Bank noted, expecting a sustained break in due course. 

Meanwhile, US stocks were also pressured which helped to keep the pressure on the antipodeans.  The S&P 500 was down 0.57% while the Dow Jones was down 0.84% by the close. In Europe, the Euro Stoxx 50 lifted 0.1% but the FTSE 100 fell 0.5%. The US 10-year was 6bps lower at 1.27%. The CRB index was up 0.15%.

Key data events

Meanwhile, New Zealand's Gross Domestic Product is tomorrow. ''We remain of the view that the hurdle for optimism is high given what’s priced in (in terms of RBNZ hikes) into short end interest rates and note that the Kiwi has broken lower on a number of crosses,'' analysts at ANZ bank argued. For today, Aussie New Home Sales is up next ahead of Chinese Retail Sales before tomorrow's all important Aussie Employment data. 


Today last price 1.0314
Today Daily Change -0.0038
Today Daily Change % -0.37
Today daily open 1.0352
Daily SMA20 1.0419
Daily SMA50 1.051
Daily SMA100 1.0628
Daily SMA200 1.0686
Previous Daily High 1.0398
Previous Daily Low 1.0327
Previous Weekly High 1.0455
Previous Weekly Low 1.0322
Previous Monthly High 1.0592
Previous Monthly Low 1.0338
Daily Fibonacci 38.2% 1.0371
Daily Fibonacci 61.8% 1.0354
Daily Pivot Point S1 1.032
Daily Pivot Point S2 1.0288
Daily Pivot Point S3 1.0249
Daily Pivot Point R1 1.0391
Daily Pivot Point R2 1.043
Daily Pivot Point R3 1.0462



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