- Sellers take control of AUD/NZD, pushing the pair to 1.0860 and erasing recent gains.
- New Zealand is set to release the ANZ business and consumer surveys for June on Wednesday, with widespread market attention.
- Australia’s CPI data, due out this Wednesday, continues to reveal Australia’s direction.
AUD/NZD sellers intervened on Tuesday, erasing all daily gains and pushing towards the 1.0860 cross. The movements of the Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand (RBNZ) are eagerly awaited by investors, who are awaiting guidance.
In New Zealand, eyes are on the June ANZ consumer and business surveys due to be released this Wednesday. The RBNZ plans its first rate cut for the third quarter of 2025, contradicting market expectations for a cut in November, but incoming data will dictate the pace of bets. Should New Zealand’s economy show further signs of weakness, the bank could consider cuts sooner.
In Australia, Westpac consumer confidence data caught the eye with a 1.7% rise to 83.6 in June from 82.2 in May, marking the first increase since February. However, the key data for the week will come with the release of the Consumer Price Index (CPI) for May on Wednesday.
The swaps market now sees a less than 25% chance of a rate cut by December 2024, escalating to around 65% in February 2025. Despite the main expectation of rising two points to a high of five months of 3.8% year-on-year, the RBA remains patient, waiting a considerable period before inflation is sustainably within the 2-3% target range. The outcome of the inflation figures could see significant volatility in the price dynamics of the Australian Dollar.
AUD/NZD technical analysis
In the short term, the technical outlook for AUD/NZD appears positive, although indicators are flattening and suggest a possible consolidation of the recent 0.80% gains achieved last week. This is supported by the crossover maintaining its position above the 20-day, 100-day, and 200-day simple moving averages (SMA). Furthermore, the 20-day SMA completed a bullish crossover with the 100-day SMA, reinforcing the positive outlook.
AUD/NZD Daily Chart
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.