Forex: AUD/USD falls below 1.0300

The Aussie is trading lower against the USD following the RBNZ decision to leave unchanged its interest rate at 2.5%. The AUD/USD has fallen around 20 pips in the last minutes from 1.0310 to break down the 1.0300 level and test 1.0290.

Currently the pair is trading at 1.0295, 0.25% below opening price action. As for the short term, MACD, CCI and Momentum are bearish in the 15-minute chart.

"The overvalued New Zealand dollar is undermining profitability in export and import competing industries," says the bank in its official release. The RBNZ expects "to keep the OCR unchanged through the end of the year."

Mar 13, 2013

RBNZ leaves interest rate unchanged at 2.5%

The Reserve Bank of New Zealand decided today to leave the Official Cash Rate (OCR) unchanged at 2.5% as expected.

Forex: AUD/NZD reaches 2-month high after RBNZ

The New Zealand dollar weakened broadly and fell to its lowest level in 2 months against its neighbor the Aussie, after the RBNZ decided to keep its monetary policy unchanged but said it expects to keep the Official Cash Rate (OCR) unchanged through the end of the year.