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Home in the range for AUD/NZD – ANZ

FXStreet (Barcelona) - Analysts at ANZ note the absence of any fresh news leading to the AUD/NZD pair continuing its consolidation and the AUD/USD pair fading its bounce.

Key Quotes

“AUD/NZD continues to consolidate at the bottom of its range. With little domestic data due over the next couple of days the consolidation is likely to continue. We continue to look for opportunities to re-enter longs.”

“NZD/JPY flat-lined as USD moves dominated. However, BoJ Governor Kuroda’s speech today is expected to emphasis the “onus” is on the LDP to improve finances if “Abenomics” is to succeed.”

“AUD/USD” With little fresh news to drive the AUD, the market continued to fade the bounce which followed the surprise rate cut in China last Friday. With the EUR rebounding after a solid IFO print cross selling also weighed on the AUD. Dynamics are unlikely to change today with the RBA speech the only event of note.”

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