In short
- The Australian dollar posted strong gains but started to fade last week
- Interest rates in the US could be coming down on Wednesday
- Important Australian inflation (CPI) data this week
AUD to USD exchange rates
| Time | Open | High | Low |
|---|---|---|---|
| Today | 0.6816 | ||
| In the last week | 0.6812 | 0.6880 | |
| In the 3 months | 0.6676 | 0.6966 |
In October, the AUDUSD has been savaged to a 10-year low under 67 cents before making a reasonable comeback. Last week, it managed to hit 0.6880 before losing more than 1% since late last week to settle above 0.6700.
The short-term direction of the Australian dollar could be defined by any number of events but this week, there are 2 of important ones:
- Wednesday: Australian inflation data is released. Any increase in inflation could help the Aussie dollar back towards 70 cents
- Wednesday: The US Fed Reserve is expected to cut interest rates following their central bank meeting
Other things to keep an eye on this week is a speech by RBA boss Dr Philip Lowe, central bank meetings in Canada and Japan, Eurozone GDP figures and US Non Farm Payrolls (a measure of employment).
Up Next
This week, it's all about central banks and (cutting) interest rates.
| Country | Day | Event |
|---|---|---|
| Australia | Tuesday | Speech by the RBA head, Dr Philip Lowe |
| Australia | Wednesday | Consumer Price Index (CPI) Quarterly inflation data |
| USA | Wednedsay | Interest Rate Decision |
| Canada | Wednedsay | Interest Rate Decision |
| Japan | Thursday | Interest Rate Decision |
| Eurozone | Thrusday | GDP figures |
| USA | Friday | Non Farm Payrolls |
