In short
- The Australian dollar falls below 69 cents against the US dollar
- Mixed results against other major currencies
- Australian and Chinese trade balance data including imports and exports due out later in the week
AUD to USD exchange rates
| Time | Open | Low | High |
|---|---|---|---|
| Today | 0.6881 | ||
| In the last week | 0.6871 | 0.6929 | |
| In the last month | 0.6714 | 0.6929 |
Overnight the AUD/USD drifted below 69 cents for the second time this week. It wasn't all bad news for the local currency though. It remained broadly unchanged against the Euro, British Pound and New Zealand Dollar.
With the RBA meeting done for another month, the markets attention will turn to the Trade Balance data due out in Australia and China.
A stronger than expected trade balance could help the AUD move higher above 69 cents. A good result from the Chinese data could also have a positive effect on the Australian dollar given how strongly the two economies are tied.
Outside of economic data, Brexit and trade relations are still the most influential events on currency exchange rates at the moment.
Up Next
With Australian retail sales figures and the RBA meeting done and dusted all that remains are the trade data later in the week.
Overseas, the central bank in the UK is also meeting but no change is expected. Closer to home, New Zealand will release its employment data while Chinese trade data will be closely watched and could have an impact on the Australian dollar.
| Country | Day | Event |
|---|---|---|
| Australia | Monday | Retail Sales figures |
| Australia | Tuesday | RBA meeting |
| New Zealand | Wednesday | Labour Force data |
| United Kingdom | Thursday | Bank of England meeting |
| China | Friday | Trade balance figures including imports and exports |
