AUDNZD - Five Year Lows

[Bobcat.]

Yes, many pundits were expecting Australia's Reserve Bank to lower its interest rate yesterday. I did too, given the boost it would bring to resource company tax revenues that the Government would enjoy from it, but it didn't happen (due to housing market pressure?). There will be a few days of further climb in the AUS/USD in my opinion before the Treasury and others start to talk it down...I'm guessing from around 0.935.

Edit: Building approvals have just been announced for Australia - down 5% (last time up 7%).

BC

[Pumice]

Yes, many pundits were expecting Australia's Reserve Bank to lower its interest rate yesterday. I did too, given the boost it would bring to resource company tax revenues that the Government would enjoy from it, but it didn't happen (due to housing market pressure?). There will be a few days of further climb in the AUS/USD in my opinion before the Treasury and others start to talk it down...I'm guessing from around 0.935.

Edit: Building approvals have just been announced for Australia - down 5% (last time up 7%).

BC

I read on Bloomburg that 33 out of 33 economist were picking the RBA to hold rates?
On another note:
AUD/NZD currently going crazy. 1.0650 to just under 1.0800
Whats the cause of this NZD weakness?