AUD and NZD Hesitate as Gulf Conflict Drags On
AUD and NZD Hesitate as Gulf Conflict Drags On
The Australian and New Zealand dollars hesitated on Tuesday as renewed U.S. military strikes on Iran cast doubt on a peace deal. The Aussie paused at $0.7170, while the kiwi edged back to $0.5860.
Key Data and Expectations
Australia's April CPI data is due this week, with median forecasts for a 0.6% monthly rise. Core inflation is expected to edge up to 3.4% annually, which could prompt the RBA to consider another rate hike.
The Reserve Bank of New Zealand meets on Wednesday and is widely expected to hold rates at 2.25%, though a hike is possible.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
AUD/USD
Geopolitical tensions reduce risk appetite, pressuring the Aussie. Additionally, upcoming CPI data could disappoint, lessening rate hike expectations.
NZD/USD
Risk aversion due to Gulf conflict weighs on the kiwi. RBNZ is expected to hold rates, but inflation outlook poses upside risks.
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