22 Dec 2014
AUD/NZD catching demand on penetration of downside
FXStreet (Guatemala) - AUD/NZD is trading at 1.0521, up 0.12% on the day, having posted a daily high at 1.0561 and low at 1.0485.
AUD/NZD has attracted some demand while confined on the downside with the divergence between the two Central Banks and the Kiwi fairing up well amongst the commodity currencies in general. The pair has lost over three cents across the past 10 days moving into the closing session of the year and the macro elements of risk facing the Aussie are compelling, making rom to the downside.
The RBA continue to talk it down amongst speculation that the Central Bank will act in the first half 2015 while the RBNZ is sighted to remain on hold with a bullish bias to the curve for the latter part of 2015.
AUD/NZD has attracted some demand while confined on the downside with the divergence between the two Central Banks and the Kiwi fairing up well amongst the commodity currencies in general. The pair has lost over three cents across the past 10 days moving into the closing session of the year and the macro elements of risk facing the Aussie are compelling, making rom to the downside.
The RBA continue to talk it down amongst speculation that the Central Bank will act in the first half 2015 while the RBNZ is sighted to remain on hold with a bullish bias to the curve for the latter part of 2015.