{
  "id": 12316596,
  "title": "Australian dollar gets a lift from kiwi, euro selling",
  "url": "https://urgent.news/2026/10/06/australian-dollar-gets-a-lift-from-kiwi-euro-selling",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T06:19:27.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40442869/australian-dollar-gets-a-lift-from-kiwi-euro-selling"
  },
  "original_language": "en",
  "account": "Sydney saw the Australian dollar maintain its position against the U.S. dollar on Tuesday, gaining traction alongside the New Zealand dollar and euro currencies. The Aussie held steady at $0.6968, marking a 0.3% increase from the previous day. It was on the verge of surpassing a 13-week low of $0.6904. The upper resistance threshold is located at $0.7010, while the key support level is at $0.6867. The Australian currency benefited indirectly from the euro's decline, as political uncertainties pushed the single currency to its lowest level in over a year at A$1.6061.\n\nThe Australian dollar also experienced a 0.6% rise on the New Zealand dollar overnight, reaching NZ$1.2464, close to its recent peak of NZ$1.2488. Australian 10-year yields surged near their highest in 15 years, reaching 5.408%, outperforming Treasuries. The spread narrowed to just 10 basis points from the previous month's 39 basis points. Australia's government deficit and debt remain relatively low compared to U.S. levels and are attracting central bank demand seeking to diversify away from Treasuries.\n\nThe Reserve Bank of Australia preemptively raised interest rates by one percentage point to 4.60% to counter inflation. The hike last week significantly impacted consumer sentiment, which had already been affected by a sharp drop in house prices. Consequently, traders expect the RBA to skip another rate increase in November but could opt for a 4.85% hike early next year if inflation does not decrease as anticipated.\n\nThe New Zealand dollar was stuck at $0.5598, following a 10-month low of $0.5581 overnight. This break would be negative, suggesting a possible decline to $0.5485. The kiwi currency received minimal support from a survey revealing that 43% of firms surveyed anticipate improved overall business conditions, up from just 8% in the prior quarter. However, weaker activity indicators left investors uncertain about the Reserve Bank of New Zealand's decision at its October 28 meeting. The odds of a quarter-point rate increase to 3.0% stand at around 58%, but a move in December remains highly probable. The local bond market consistently outperformed the bearish trend in Treasuries, pushing the 10-year yield spread to -23 basis points, a level not observed since late 2020.",
  "summary": "SYDNEY: The Australian dollar held its ground against the greenback on Tuesday as it drew demand against the New Zealand dollar and euro, while local bond markets showed resilience to the ongoing rout in Treasuries. The Aussie held at $0.6968, having edged up 0.3% overnight and away from a 13-week low of $0.6904. Resistance lies around $0.7010, with major support at $0.6867. The currency got an…",
  "key_points": [
    "Australian dollar gains 0.3% against U.S. dollar, reaching $0.6968",
    "Euro's decline benefits Australian currency amid political uncertainties",
    "Reserve Bank of Australia raises interest rates to 4.60% to combat inflation"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}