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4 Mar 2015
AUD/NZD moves away from 1.03 post Aus Q4 GDP
FXStreet (Bali) - AUD/NZD is trading round the 1.0350 area after the Australian Q4 GDP numbers came in line with expectations, a set of data good enough to produce a30 pips rebound off 1.0320 lows.
According to the most recent CFTC Commitments of Traders Report, for the week ending Tuesday, February 24th, "AUD shorts stood at –63.1k contracts as of Tuesday, the biggest bet against the AUD since early 2014, while net short NZD positions were reduced but remain very modest (-4.3k) ", notes the FX Strategy Team at TDS.
Technically, the pair remains near the bottom edge of its current range between 1.03 and 1.05, although pressure keeps building to the downside, with Tuesday's RBA-led gains mostly erased as New Zealand continues to show an improved fundamental outlook going forward.
According to the most recent CFTC Commitments of Traders Report, for the week ending Tuesday, February 24th, "AUD shorts stood at –63.1k contracts as of Tuesday, the biggest bet against the AUD since early 2014, while net short NZD positions were reduced but remain very modest (-4.3k) ", notes the FX Strategy Team at TDS.
Technically, the pair remains near the bottom edge of its current range between 1.03 and 1.05, although pressure keeps building to the downside, with Tuesday's RBA-led gains mostly erased as New Zealand continues to show an improved fundamental outlook going forward.