AUD/NZD Exchange rate

AUD/USD is a few pips above 0.7100 at the end of the American session, as US indexes managed to bounce in the final hour of trading. The Dow Jones turned positive after spending the day in the red. Eyes now on the RBNZ decision.

Lingering inflation and growth concerns were unable to overshadow ECB officials vowing for a 50 bps rate hike as soon as next July. EUR/USD holding on to gains and en route to extend its advance.

Global stocks traded with a soft tone, favoring the safe-haven gold that reached a fresh two-week high of $1,869.71. The bright metal holds nearby as the American session undergoes, with Wall Street trimming most of its Monday’s gains.

Cardano price action continues to dip lower and lower, following the broader market in a continued downtrend. Time cycles indicate relief may not come until June.

Another double-dose rate hike is on the table for the RBNZ when it meets this Wednesday to decide on its monetary policy at 0200 GMT. The central bank’s outlook on the pace of tightening, however, will be key in determining NZD/USD’s next price direction.