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11 Mar 2015
AUD/NZD at 4-week highs ahead of RBNZ
FXStreet (Córdoba) - The AUD/NZD pair recently reached a fresh 4-week high, slightly above the previous at 1.0527 and currently trades at 1.0520 ahead of the monetary policy decision of the Reserve Bank of New Zealand.
The pair is moving with an upside bias since last week, recovering from record low levels that reached below 1.0300 last Thursday. The next move is likely to depend on the outcome of the RBNZ decision and later by the Australian employment report.
The NZ central bank is expected to leave rates unchanged. The main attention would lie on the statement. If it points out toward a tightening bias the kiwi could rally but if it mentions the possibility of a rate cut it could slide. A few analysts consider that the RBNZ would surprise and announce a rate cut. The statement will be released at 20:00 GMT.
The pair is moving with an upside bias since last week, recovering from record low levels that reached below 1.0300 last Thursday. The next move is likely to depend on the outcome of the RBNZ decision and later by the Australian employment report.
The NZ central bank is expected to leave rates unchanged. The main attention would lie on the statement. If it points out toward a tightening bias the kiwi could rally but if it mentions the possibility of a rate cut it could slide. A few analysts consider that the RBNZ would surprise and announce a rate cut. The statement will be released at 20:00 GMT.