The AUD/NZD pair returned to rise with the end of last week to erase some of the losses recorded before. The pair expected to rise on the short term because of the improved outlook for the Australian economy compared with the New Zealand economy.
The Reserve Bank of Australia kept the interest rates steady at 4.75% due to concerns about the negative impact of natural disasters on the Australian economic growth rates. On the other hand, unemployment rates in Australia retreated to 4.9% from 5.0%, which increased the demand for the Aussie on expectations of improved outlook for Australian growth.
Gold prices also continue to rise, supporting the Australian currency as a result of the direct relationship between them.
Before the beginning of Monday, the New Zealand economy will issue REINZ housing price index for March, which increased by 2.3% to 3192.9 houses.
Originally posted here
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