5 Aug 2015
AUD/NZD bulls looking for closes on 1.13 handle
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.1289 with a high of 1.1325 and a low of 1.1267.
AUD/NZD has been a one way street of late, taking up space on the 1.12 handle overnight after a rally from the 1.1010 zone earlier in the week in the back of Origin Energy selling a 53 per cent stake in NZ power company, Contact Energy. This equated to a cent high run the cross when NZD 1.8b was traded for the Aussie.
Aussie bid on RBA statement
Then, the RBA took the Aussie much higher when the statement's wording was changed in respect to the price of the Aussie. The statement was marrying the current price action in the Aussie to the prices of commodities, leaving out that the price was too high this time around or further falls in the Aussie were likely and necessary.
NZD soft on jobs data
Today, in Asia, the bird was offered on the back of the jobs data for NZ. The unemployment change for Q2 came in line while the participation came in lower than expected at 69.3% vs 69.6% consensus. The employment change missed also by 0.2% at 0.3% vs 0.5%.
The price is testing the vicinity of 1.1300 with a score through 1.1320 on the 13th of July's sticks. this is guarding 1.1378, July's high ahead of June's at 1.1429. 1.0900 is guarding space towards 1.0760.
AUD/NZD has been a one way street of late, taking up space on the 1.12 handle overnight after a rally from the 1.1010 zone earlier in the week in the back of Origin Energy selling a 53 per cent stake in NZ power company, Contact Energy. This equated to a cent high run the cross when NZD 1.8b was traded for the Aussie.
Aussie bid on RBA statement
Then, the RBA took the Aussie much higher when the statement's wording was changed in respect to the price of the Aussie. The statement was marrying the current price action in the Aussie to the prices of commodities, leaving out that the price was too high this time around or further falls in the Aussie were likely and necessary.
NZD soft on jobs data
Today, in Asia, the bird was offered on the back of the jobs data for NZ. The unemployment change for Q2 came in line while the participation came in lower than expected at 69.3% vs 69.6% consensus. The employment change missed also by 0.2% at 0.3% vs 0.5%.
The price is testing the vicinity of 1.1300 with a score through 1.1320 on the 13th of July's sticks. this is guarding 1.1378, July's high ahead of June's at 1.1429. 1.0900 is guarding space towards 1.0760.