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Australian dollar slides against New Zealand dollar as sentiment weakens

Westpac’s survey showed Australian consumer sentiment dropping to 80.4 in October, after an RBA decision on September 29.

Reported · Written up by our desk · Major Pairs

Australian consumer sentiment fell 4.7% to 80.4 in October, according to a Westpac survey cited by FXStreet, and the Reserve Bank of Australia’s September 29 rate hike did most of the damage to risk sentiment.

In currency trading, AUD/NZD was just above 1.2400 on its first down day after a three-session advance from around 1.2300, FXStreet said.

FXStreet also noted that Westpac found sentiment of 86.9 among respondents asked before the RBA decision and 67.2 among those asked after it, a level it said had been seen only during the early-1990s recession.

The article further said the RBA’s cash rate is 4.60% after its fourth hike of 2026 and sits 1.85 points above the Reserve Bank of New Zealand’s 2.75%, with AUD/NZD previously under 1.2500 after that interest-rate gap moved the pair higher in mid-September.

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