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4 Feb 2015
AUD/NZD: Resumes downside on a neutral RBNZ
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0538 with a high of 1.0639 and a low of 1.0522.
RBNZ's Wheeler has spoken out in respect to their renewed outlook for the economy and effectively told markets that rates will remain on hold until their targeted inflation band is reached, shifting to a neutral stance but not as dovish as expected. The jobs market is a major factor that is expected to raise inflation in a global disinflationary environment and already today we saw a good jobs report from the New Zealand economy, beating expectations.
The cross moved lower in a choppy and volatile phase around the time Wheelers comments were digested at their release, with a short lived spike to 1.0639 and where supply took the pair down to the lows and area of current price action.
RBNZ's Wheeler has spoken out in respect to their renewed outlook for the economy and effectively told markets that rates will remain on hold until their targeted inflation band is reached, shifting to a neutral stance but not as dovish as expected. The jobs market is a major factor that is expected to raise inflation in a global disinflationary environment and already today we saw a good jobs report from the New Zealand economy, beating expectations.
The cross moved lower in a choppy and volatile phase around the time Wheelers comments were digested at their release, with a short lived spike to 1.0639 and where supply took the pair down to the lows and area of current price action.