Friends, I am starting to buy the Australian dollar for the New Zealand dollar after the fall of the first and the growth of the second for the reasons described below.
Increasing pressure on risk appetite, data on retail, industrial production and investment in China fell short of expectations, and therefore the Australian dollar, already hit by weak employment data, reached its lowest level for the month.
On Wednesday in Asia, the New Zealand dollar rose more than 1% after the country's central bank unexpectedly left interest rates unchanged.
Previously, it was assumed that the Reserve Bank of New Zealand (RBNZ) will lower rates, but it has retained the same. This is due to the bank’s opinion that the domestic economy will no longer slow down and inflation will increase.
We are waiting for at least a short-term correction and earnings of about 200-400 points in 2-3 working days.