AUD & NZD Mixed as Strong Exports, RBA Hold Offset Geopolitical Calm

The Asia-Pacific FX session featured mixed signals for AUD/USD and NZD/USD as traders digested a blend of strong economic data, central bank commentary, and geopolitical developments. Australian April exports surged 7.2% month-over-month, providing a tailwind for the Australian dollar, while the ANZ commodity index rose on tight supply conditions. However, the RBA governor faced Senate scrutiny amid expectations from CBA that rates will remain on hold following three consecutive hikes, reinforcing a hawkish-hold stance that keeps AUD supported near current levels. NZD/USD faced headwinds as rising commodity prices were partially offset by NZD strength clipping export returns. The PBOC set the USD/CNY reference rate at 6.8203, signaling continued managed stability in the yuan. Geopolitically, an Israel-Lebanon ceasefire reduced risk-off flows, while Kuwait's plans to recover 70% of oil output within weeks of a Hormuz reopening added supply-side clarity to energy markets. Bitcoin continued its sharp selloff, diverting risk appetite attention. Traders should monitor RBA policy signals and commodity price trends for near-term AUD and NZD direction.