Ever since the Chinese economy started to slow down in 2012 or so, the Aussie dollar and Australian economy has been lurching from one disaster to another. If it's not iron ore, it's coal. If it's not coal, it's jobs. And if it's not jobs, it's housing.
Enter AUDNZD, which ought to see Australia stronger given that many of the external factors affect both the same. While we're way off the highs at 1.30+, to show just how fickle the market can be, we're now sitting at 1.02, when we were at 1.11 only a few months ago. The trade war bites both economies the same and likewise with global growth.
The current flavor of the month is central bank policy divergence and is being priced into the market. I don't think it'll happen but even if it does, it's likely to be a 'buy the rumor sell the fact' type of a situation.
Starting to buy AUDNZD and will add if it drops another 100 pips.