Waller is usually good for hawkish comments, but his remarks today are scheduled to be on crypto. Mester will step up though, also on the hawk side.

12:00 US Eastern time, 1600 GMT

• Federal Reserve Board Governor Christopher Waller speaks on "Financial Innovation" before the Global Interdependence Center "Cryptocurrency and the Future of Global Finance" event

12:20 US Eastern time, 1620 GMT

• Federal Reserve Bank of Cleveland President Loretta Mester speaks on the economic and policy outlook before the Akron Roundtable Signature Series

15:00 US Eastern time, 1900 GMT

• Federal Reserve Bank of Dallas President Lorrie Logan and Federal Reserve Board Governor Michelle Bowman give opening remarks before a Fed Listens event

Conclusion AUDNZD @ 1.08859 

AUDNZD 05/04/23

AUD Currency News

According to the latest data from the Australian Bureau of Statistics, Australia's trade balance for March 2023 showed a rise in the trade surplus, beating expectations. The trade surplus increased to AUD 12.1 billion, up from AUD 10.1 billion in February, surpassing the consensus estimate of AUD 11.4 billion. The rise in the surplus was attributed to a 4% increase in exports, while imports rose by 2% in March, following a decline in February. The increase in exports was driven by a surge in demand from China, with exports to China rising by 28.5% month-on-month to a record high of AUD 19 billion. The rise in exports was led by coal, iron ore, and other mining-related exports. The increase in imports was driven by consumer goods, capital goods, and intermediate goods. The positive trade balance data is expected to have a positive impact on the Australian economy and the Australian dollar. 

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The overall tone of the article seems to be bullish on the Australian economy and the Australian dollar. The increase in the trade surplus, driven by a rise in exports to China, is seen as a positive development. The article mentions that the increase in exports was led by coal, iron ore, and other mining-related exports, which suggests a strong demand for Australia's natural resources. The increase in imports of consumer goods, capital goods, and intermediate goods also suggests a healthy level of domestic economic activity. Overall, the positive trade balance data is expected to have a positive impact on the Australian economy and the Australian dollar. 

VS

NZD Currency News

According to RBNZ's Deputy Governor/General Manager Financial Stability Christian Hawkesby, the underlying economy in New Zealand has strength, and the country's banks are well-positioned to support customers. This statement was made during a hearing in front of an NZ parliament Finance and Expenditure Committee following the release of the RBNZ's May Financial Stability Report. The impact on currency strength will depend on how the market interprets this news, as well as other economic factors affecting the New Zealand dollar. 

New Zealand's building consents decreased by 7.9% YoY in March 2023, according to data released by Stats NZ. The decline is attributed to the slower growth in the number of multi-unit homes consented in 2023. However, the number of building permits issued rose by 7% MoM, beating market expectations of a 0.3% decline. The decrease in standalone houses consented was offset by the growing number of multi-unit homes for most of 2022. The impact on currency strength will depend on how the market responds to the mixed results, as well as other economic factors affecting the New Zealand dollar. 

The ANZ Commodity Price index for New Zealand's 17 main commodity exports fell by 1.7% m/m in April, following a 1.3% increase in the previous month. The decline was driven by weaker prices for dairy, forestry, and seafood products. However, global shipping prices firmed during the same period, with the Baltic Dry Index up 13% due to increased demand for shipping. Despite this, shipping costs for New Zealand exporters remain relatively high compared to other major shipping routes, as the limited number of ships serving Oceania routes is keeping freight prices from falling further. The ANZ New Zealand Commodity Price Index is an important measure of the overall price movements of New Zealand's key commodity exports, which make up a significant portion of the country's total exports and are important drivers of its economy. 

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For the statement made by RBNZ's Deputy Governor/General Manager Financial Stability Christian Hawkesby, it is difficult to determine a specific percentage of bullish or bearish sentiment as it depends on how the market interprets the news, and other economic factors affecting the New Zealand dollar. However, the statement suggesting strength in the underlying economy and well-positioned banks could be seen as a positive for the currency.

For New Zealand's building consents, the mixed results could lead to a mixed sentiment in the market, which could affect the New Zealand dollar. The YoY decline in building consents could be viewed as bearish, while the MoM increase could be seen as bullish. The impact on currency strength will depend on how the market responds to these mixed results, as well as other economic factors affecting the New Zealand dollar.

The ANZ Commodity Price index's decline in April could be viewed as bearish for the New Zealand dollar, as it is an important measure of the overall price movements of New Zealand's key commodity exports, which make up a significant portion of the country's total exports and are important drivers of its economy. However, the increase in global shipping prices could be seen as bullish, although the relatively high shipping costs for New Zealand exporters could limit the positive impact.

Conclusion AUD/NZD @ 1.06513 close @ 1.07325 Closed @ 1.0896