AUDNZD Analysis
AUDNZD is making a correction from the lower high of the descending channel and the horizontal resistance area.
After the confirmation of downtrend movement, AUDNZD sell signal given.
AUDNZD reached the take profit target sucessfullly.
Australian Dollar: RBA meeting minutes
Today, RBA minutes in the morning stated that no rate hikes until 2024, and there is no change in planning.
But if any improvement in the economy happens before 2024, RBA will take steps according to the situation.
And now China GDP slipped to 4.9% from the 5.2% forecast yesterday.
China domestic growth got slumped higher due to Coal demand, and now the Covid-19 Delta variant spread and Evergrande Real estate issue.
And today payment coupon is pending present by China’s Evergrande, but no action has been taken from the Company side.
New Zealand Inflation data rose to 4.9% from 4.1% expected.
AUDUSD keeps higher as Coal demand increases in China and exports are increased in recent days; soon, China may withdraw the Australian barrier of Coal imports.
New Zealand Dollar: RBNZ expected to do rate hike in next meeting
RBNZ expected to do another rate hike in November due to more inflation rates occurring in New Zealand.
And PM Jacinda Ardern said that lockdown had been extended a 2-week, under tier 3 lockdown in Auckland as it is the most populated city.
So Now, the Delta variant is keeping slightly higher in New Zealand. The vaccination rate keeps higher and will cover 90% by December month.
New Zealand Dollar moved higher after US Economy came lower last week and yesterday.
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