ANZ rank the New Zealand dollar higher than the AUD for the week

This is via the folks at eFX.

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"We prefer the NZD NZD The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a Read this Term over AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term this week as the aftermath of poor China data weighs on investor appetite for the AUD. Against the USD, we still prefer to sell rallies in the NZD, but would target levels above 0.6320," ANZ notes.

"While USD and Treasury yield gyrations are likely to be the prime driver of the USD/JPY, with the USD/JPY at YTD highs, we feel that chasing this cross higher to be dangerous," ANZ adds.

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Reminder - its Reserve Bank of New Zealand decision week:

• NZDUSD goes sideways but keeps bullish bias.RBNZ decision tomorrow night (Wednesday in NZ)
• Poll shows most analysts expect a +25bp RBNZ rate hike on May 24
• Newsquawk Week Ahead: Highlights include FOMC mins, US PCE, RBNZ, Flash PMIs
• ANZ forecasts the RBNZ to raise the cash rate to 5.75% in July
• Westpac forecasts RBNZ will raise cash rate to 6%, keep it there until mid-2024
• Reserve Bank of New Zealand Shadow Board splits over rate hike this week, 0bp vs. 25 vs 50