Now, the RBA hasn't cut rates, and since February changed their MPS from:
QuoteDisliked"..the Board judged that the setting of monetary policy remained appropriate. The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target."
QuoteDisliked"In the Board's judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.
So if projections remain, Aud/Nzd parity is in the picture. If RBNZ hikes rates less than what the market had been planning on (something like +275bps within 2yrs) we could see a big retrace as well. Wheeler needs to start on those hikes TOMORROW!!