Australian Dollar/New Zealand Dollar (AUD/NZD) Exchange Rate

After China applied an 80% tariff on Australian barley imports over the next five years, citing anti-dumping practices, and barring certain beef imports,

Australia and New Zealand are partially easing their lockdown measures, with new Covid-19 infection rates well-below their counterparts in the developed world.

Australia’s and New Zealand’s Covid-19 response is being hailed by many in the international community.

Australia and New Zealand are allied with a close relationship on most topics.

Wartime measures are required to combat Covid-19, according to the International Monetary Fund (IMF).

Australia and New Zealand have announced economic relive packages, while bot central banks announced quantitative easing measures after slashing interest rates to 0.25%.

Panic selling by FX trades sent high-risk currencies tumbling to multi-year lows during London trade on Thursday.

Price action in the AUD/NZD stabilized inside of its support zone after the Reserve Bank of Australia (RBA) cut interest rates by 25 basis points to an all-time low of 0.25%.

Australia announced its first stimulus package since the 2008 global financial crisis in response to economic disruptions related to Covid-19.

Australia reported a more significant trade surplus for January than forecast, but marginally lower than the one announced in December.

New Zealand reported a smaller than expected decrease in exports for January, resulting in a narrower trade deficit.

Following the release of the Australian employment report for January, the Australian Dollar regained stability with a bullish bias.

Following the Reserve Bank of New Zealand’s decision to keep interest rates unchanged at 1.00% yesterday, together with the assessment of the economic impact of the coronavirus,

Australian economic data showed an unexpected increase in imports, which resulted in a smaller than forecasted trade surplus for December.

With the coronavirus causing more deaths, and disruptions to the supply chain, the global economy is expected to feel a considerable impact.

Australian consumer inflation expectations surged to 4.7% in January.

After the US and China signed the phase-one trade truce, where China pledged to purchase $200 billion worth of goods over the next two years, the market reaction was muted.

Tensions between the US and Iran appear to be easing for now, and traders will be able to pay closer attention to fundamentals.

Bullish momentum is on the rise after price action in the AUD/NZD was able to ascend above its support zone.

With the Fibonacci Retracement Fan closing the gap to the support zone, and the AUD/NZD caught in between, pressures for either a breakout or breakdown are on the rise.