Live Updates > Live Update Details
2026-04-07 11:23:10
[Middle East Situation Remains Unresolved, Both Australian and New Zealand Dollars Under Pressure] 1. On Tuesday, the Australian dollar fell 0.1% to US$0.6908, while the New Zealand dollar dropped 0.18% to US$0.5697. Investors are anxiously awaiting Trump's deadline for Iran (8:00 AM Beijing time on Wednesday). A ceasefire glimmer briefly boosted sentiment, but a lack of progress led to higher oil prices, weighing on the Australian and New Zealand currencies. 2. Technically, the Australian dollar has support at US$0.6834 and resistance at US$0.6964; if the New Zealand dollar breaks below US$0.5681, it may fall further to US$0.5581. 3. The Reserve Bank of New Zealand will hold a meeting on Wednesday, with the market widely expecting it to keep interest rates unchanged at 2.25%. A rate hike this week is unlikely, but the probability of a rate hike in July is about 60%, and rates may rise to at least 2.75% by the end of the year. Citi expects the central bank to remain cautious and keep interest rates unchanged for the year. 4. The Reserve Bank of Australia (RBA) has raised interest rates twice this year to 4.10%, and the market expects a 66% probability of another hike to 4.35% in May. Australian household spending rose slightly by 0.3% in February, but high oil prices eroded real consumption, suggesting weak consumption in the first quarter. 5. Overall, the AUD/NZD currencies are supported by domestic interest rate hike expectations, but uncertainty in the Middle East and concerns about global growth continue to suppress risk appetite. The market is closely watching the progress of the ultimatum and signals from the Reserve Bank of New Zealand.
