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AUD/NZD fails to hold above 1.1000

FXStreet (Córdoba) - AUD/NZD rallied yesterday from 8-week lows but the recovery was short lived and bounced back, approaching 1.0900 amid a weak aussie across the board.

AUD/NZD continues under pressure

Yesterday the pair bottomed at 1.0931, the lowest price since September 23 and then rebounded sharply, reaching during today’s Asian session at 1.1021 a 2-day high. But then, the Australian dollar lost momentum and AUD/NZD retreated below 1.1000.

Currently the pair trades at daily lows at 1.0959, 40 pips below the level it closed yesterday, and is now headed toward the lowest daily close in two months.

PPI data from New Zealand

After trading ends in Wall Street, economic data from New Zealand will be release with the PPI index of the third quarter and could impact AUD/NZD; a modest increase is expected.

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