AUD/NZD responds to commodity prices - AmpGFX

Greg Gibbs, Director at Amplifying Global FX Capital, notes that the Australian commodity price index has risen to a high for the year, no doubt boosted by the surge in coking coal prices, more than offsetting a decline in iron ore prices. 

Key Quotes

“The New Zealand price index remains near its high for the year (last observation was on 23-Sep), but it might be expected to ease back in-line the recent dip in dairy prices.  The relative price index has, therefore, risen in favor of the AUD/NZD over the last month, helping account for the recovery in AUD/NZD.”