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10 Dec 2015
AUD/NZD went on a wild ride - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that AUD/NZD had a wild ride.
Key Quotes:
"This “strong” Australian employment report offsets somewhat the AUDNZD dip to 1.071 due to the RBNZ forgetting to jawbone the currency lower along with the expected rate cut to 2.5% (i.e. the absence of a clear easing bias via unchanged forward guidance on rates, our view here)."
"AUD/NZD at 1.083 may be capped for now, as there are no scheduled opportunities for the RBA or RBNZ to speak on monetary policy for the rest of the year. With the U.S. FOMC looming next week, attention will be focus on how hawkish or dovish the rhetoric is that accompanies the expected first rate hike."
Key Quotes:
"This “strong” Australian employment report offsets somewhat the AUDNZD dip to 1.071 due to the RBNZ forgetting to jawbone the currency lower along with the expected rate cut to 2.5% (i.e. the absence of a clear easing bias via unchanged forward guidance on rates, our view here)."
"AUD/NZD at 1.083 may be capped for now, as there are no scheduled opportunities for the RBA or RBNZ to speak on monetary policy for the rest of the year. With the U.S. FOMC looming next week, attention will be focus on how hawkish or dovish the rhetoric is that accompanies the expected first rate hike."