ANZ like AUD/NZD: Current levels offer opportunity for long AUD/NZD exposure

Author: Eamonn Sheridan | Category: News

A note from ANZ Research recommending AUD/NZD exposure

In brief:

The recent stability of both the AUD/USD and the NZD/USD in the face of global market turmoil has been somewhat surprising

  • To some degree it highlights that both Australia and New Zealand are in relatively decent shape
  • Domestic demand is improving
  • Unemployment rates are falling
  • Both are showing resilience to the shocks emanating from the resource sector

Recent outperformance of the NZD looks unjustified

  • Data surprise indexes in fact show that more recently the AUD economy has beaten fundamental expectations by a far greater amount than NZD
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