It’s been a day of differing fortunes for the antipodean currencies. The kiwi is the day’s biggest loser after a weak Q1 CPI report potentially put an imminent rate cut onto the table. In contrast, a bout of strong economic data out of China pushed the Aussie higher during today’s Asian session, though a much of that rally has since faded. Regardless, we’ve seen a sharp rally in the AUD/NZD cross, with the pair showing its second-largest daily range since the early January flash crash. The roughly 3% rally since late March marks the biggest three-week gain since October 2017; each of the previous three examples (all ... (full story)