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Justin Rampono
Articles written by Justin Rampono
4 Alternatives to Travelex with Awesome Exchange Rates
Travelex is Australia’s biggest currency exchange service but they are not your only choice. Here are 4 currency exchange providers like Travelex that have some of the best exchange rates in Australia. S Money Crown Currency Travel Money Oz Unimoni
Records smashed as Australian dollar sinks to new lows
In short The AUD/USD drops under 60 cents for the first time since 2003 The Australian dollar is also falling against other major currencies The RBA is likely to announce and interest rate cut and additional stimulus tomorrow Time Open Low High Today 0.5970 In the last week 0.5969 0.6533 In the last month 0.5969 0.6732 The Australian dollar smashed through 60 cents today, hitting a fresh 17 year low. The AUD/USD has not been this low since 2003. It has dropped off a cliff in the last week as money has flooded into ‘safe haven’ currencies like the US […]
Australian dollar plummets to lowest level since 2003
In short The AUD/USD falls to a 17 year low, finishing the week below 62 cents The US dollar is strengthening as investors seek the shelter of ‘safe haven’ assets Risk will likely dictate the direction of the Australian dollar Time Open Low High Today 0.6184 In the last week 0.6130 0.6682 In the last month 0.6130 0.6732 On Friday, the USD dollar got stronger, pushing the AUD to USD exchange rate to a 17 year low. It finished a remarkable week with the Aussie dollar fell more than 5 cents which has not been seen since the GFC. The […]
Australian dollar falls 1 cent as governments roll out stimulus measures to combat COVID-19
In short Markets rally on the back of announced stimulus measures USD strengthens forcing AUD/USD down 1 cent AUD falls against the Euro and NZ dollar but flat against the pound and yen Time Open Low High Today 0.6491 In the last week 0.6472 0.6681 In the last month 0.6464 0.6748 The Australian dollar has fallen more than 1 cent agains the US dollar. The US dollar strengthened after Donald Trump announced measures the US government would take to stimulate the economy. This includes tax cuts, loans and financial relief. These measures are aimed at boosting the economy as it […]
3 Big reasons the Australian dollar is so low
There are 3 main reasons the Australian dollar is so low and they are all have one thing in common – China. China is Australia’s largest trading partner, not just for commodities like iron ore and coal but also for our other important exports like tourism and education. The impact of the coronavirus in China has disrupted the Chinese economy, lowering the demand for commodities Chinese student and tourist numbers have drastically fallen Market panic has made ‘safe haven’ currencies like the US dollar (USD) stronger and ‘commodity’ currencies like the Aussie dollar weaker One of the main reasons […]
Australian dollar recovers after a flash crash to 63 cents
In short Australian dollar ‘flash crash’ sends it to an 11-year low for 20 seconds Traders blame the crash on algorithmic trading platforms Panic hitting markets has increase volatility Time Open Low High Today 0.6597 In the last week 0.6472 0.6655 In the last month 0.6464 0.6748 The Australian dollar collapsed more than 5% in 20 minutes as a mixture of panic and programmatic trading brought the exchange rate tumbling. It did recover to finish the day close to where it began. If you ever wondered what would happen if someone lobbed a hand grenade into a bloodbath, now you […]
