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AUD/NZD Technical Outlook: Bullish Momentum Supported by Diverging Labour Markets
- RBA steady, RBNZ dovish tilt: Australia’s central bank is expected to hold rates at 3.6%, while New Zealand’s weak labour market raises the odds of a more dovish RBNZ stance.
- Widening yield spreads: The 2-year and 10-year AU/NZ sovereign bond yield spreads are likely to widen further, favouring AUD strength over NZD.
- AUD/NZD strength: The cross pair has gained 5.8% since July 2025, hitting a three-year high of 1.1390, supported by relative macro and yield dynamics.
