{
  "id": 12541293,
  "title": "Australia, NZ dollars find some support, trend still down",
  "url": "https://urgent.news/2026/10/07/australia-nz-dollars-find-some-support-trend-still-down",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T04:02:06.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40443057/australia-nz-dollars-find-some-support-trend-still-down"
  },
  "original_language": "en",
  "account": "The Australian and New Zealand dollars found a glimmer of support on Wednesday, as the global bond selloff paused overnight and lifted risk sentiment. The Aussie dollar was flat at $0.6982, having risen 0.2% overnight and straying further from its 13-week low of $0.6904. A move above $0.7004 would signal a stabilization of the bearish technical trend. Meanwhile, the kiwi dollar held steady at $0.5623, after bouncing 0.4% overnight. Despite six consecutive weeks of losses, the trend remains down, with a breach of the 10-month low at $0.5581 potentially triggering a retreat to $0.5485.\n\nThe lack of major data releases has left markets pricing a 25% chance of another Reserve Bank of Australia (RBA) rate hike in November, following last week's 25 basis points increase to 4.60%. The upcoming RBA minutes, expected on October 13, are anticipated to be hawkish, reflecting a unanimous decision to raise rates. Market participants will focus on whether board members believe the hike was sufficient and their outlook on future moves.\n\nNext week's September labor data, particularly the unexpectedly high unemployment rate of 4.6% in August, will be closely watched. Many analysts suspect this figure was influenced by statistical noise and expect a correction in September. A steady or higher unemployment rate would further weaken the case for tightening monetary policy. The September-quarter consumer price report, released at the end of October, will be crucial, as recent monthly releases have indicated a high 1.0% rise in core inflation, keeping the annual pace at 3.6%, well above the RBA's target range of 2% to 3%.\n\nJosh Williamson, head of Australian economics at Citi, stated that the RBA cannot forecast inflation returning to the target in the next six months, implying that further policy tightening may be necessary to curb inflation expectations. Williamson expects the RBA to raise rates again by 25 basis points in November, with a base case of a terminal rate of 4.85%, subject to risks delaying the hike.",
  "summary": "SYDNEY: The Australian and New Zealand dollars steadied above multi-month lows on Wednesday as a global bond selloff paused overnight, helping risk sentiment in the absence of local data. The Aussie was flat at $0.6982, having edged up 0.2% overnight and further away from the recent 13-week trough of $0.6904. A break above $0.7004 would be needed to stabilise an otherwise bearish technical trend.…",
  "key_points": [
    "Australian and New Zealand dollars find support amid bond selloff pause",
    "Aussie dollar flat at $0.6982, near 13-week low of $0.6904",
    "Kiwi dollar steady at $0.5623, after bouncing 0.4% overnight"
  ],
  "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."
}