have we missed the boat for parity in audnzd 1357482015

At the beginning of April, analyst predictions were awash with calls for parity between the Australian Dollar and the Kiwi Dollar. A low of 1.0021 […]


Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst
May 1, 2015 9:23 PM
Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst

At the beginning of April, analyst predictions were awash with calls for parity between the Australian Dollar and the Kiwi Dollar. A low of 1.0021 was traded on 6th April, but it fell short of hitting the mark. Since then, we have bounced to trade above 1.02.

Positioning in this pair looks like it does favour more upside pressure in the coming days (I would expect to push 1.0340, even up to 1.05 before heading lower) but next week sees a big economic docket for Australia and New Zealand. This could be perfect timing to readjust that bullish outlook to one of a bearish nature.

The most likely event to cause a stir is the RBA rate decision. From the data we have seen there is STILL potential for a rate cut in May. If that’s not enough for you, employment figures, Retail sales and building approvals are also in play. It could be a week of the perfect storm, rates cuts AND poor figures. If this happens expect the parity party invites to be resent out. Whatever happens, expect volatility.

Related tags:

Latest market news

View more
S&P500 Forecast: SPX rebounds as big tech recovers & inflation is in focus
Yesterday 01:32 PM
Gold forecast: Metal aims to recover with core PCE data on tap
Yesterday 09:35 AM
USDJPY Forecast: Key Levels for BOJ and FOMC Week
Yesterday 07:23 AM
FOMC, BOJ, BOE take the reigns of market drivers: The Week Ahead
Yesterday 04:48 AM
Stabilisation in commodity, US stock futures bode well for AUD/USD longs
Yesterday 12:17 AM
USD/JPY selling recedes ahead of PCE inflation, crude oil slips in a gain
July 25, 2024 10:39 PM

Open an account today

Experience award-winning platforms with fast and secure execution.
Open account

Web Trader platform

Our sophisticated web-based platform is packed with features.
Learn more
Economic Calendar

From time to time, StoneX Financial Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.