Goldman Sachs on the New Zealand budget due today - could impact AUD/NZD dynamics ...Middle East

Goldman Sachs on the Australian Dollar (AUD) and New Zealand Dollar (NZD), this via eFX: For bank trade ideas, check out eFX Plus. GS expect AUD to slide vs. NZD, in summary from eFX:NZD Performance: NZD has outperformed AUD recently, driven by a less direct correlation with China's economic expectations and a significant correlation with dairy prices, New Zealand's major export. Commodity Price Support: The increase in dairy prices, with a notable rise of nearly 10% this month, has bolstered the NZD. Policy Divergence: The Reserve Bank of New Zealand's (RBNZ) unexpectedly hawkish stance in its May meeting has been a key factor in the recent AUD/NZD divergence. Future Triggers: Key upcoming

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