AUD-USD and NZD-USD have recently come off their lows as the USD consolidation takes place. AUD-USD has pushed above 0.80, rising 7.5% since the start of April. NZD-USD has followed suit, albeit not to the same extent. T…
AUD-USD and NZD-USD have recently come off their lows as the USD consolidation takes place. AUD-USD has pushed above 0.80, rising 7.5% since the start of April.
NZD-USD has followed suit, albeit not to the same extent. This has resulted in AUD-NZD seeing a large rebound from its low of 1.002 on 6 April up through 1.07. However, the depreciation of both currencies will resume against the USD, with the AUD seeing the greater fall. It has been seen AUD-USD at 0.72 by year-end 2015 and NZDUSD at 0.70. This puts AUD-NZD at 1.01.
The fall against the USD stems from two main factors:
1) the desire of the central banks for weaker currencies and their dovish bias as a result.
2) the China and commodity factors which will continue to negatively affect both currencies.
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