The AUD/NZD extended its winning streak on Wednesday, to a four-consecutive day rise which saw the pair rise by nearly 1%.
On Wednesday, the AUD/NZD extended its gains and is up by 1% in the last four sessions. New Zealand's Q1 GDP figures will be closely looked at on Thursday’s Asian session. Australia 's AUD gained momentum post-RBA's hawkish hold with the cash rate maintained at 4.35%. Investors are anticipating the upcoming Gross Domestic Product revisions from Q1 from New Zealand while continuing to process the Reserve Bank of Australia 's recent decision.
As per expectations, the cash rate remained at 4.35%, with no discussions related to a rate cut. Governor Bullock confirmed that the option of raising rates was deliberated upon during the meeting. Furthermore, the RBA showcased concerns about the inflation scenario and added that they would undertake the required measures to bring inflation back within the target range. In that sense, as the RBA and RBNZ policies diverge, there might be further upside for the cross in place.
Newzealand Crosses Currencies AUDNZD
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