In short
- The Australian dollar is at its lowest point against the US dollar since 2009
- Falling commodity prices and concerns over the coronavirus have weighed heavily against the AUD
- RBA Governor Lowe to speak again this week
AUD to USD exchange rates
| Time | Open | Low | High |
|---|---|---|---|
| Today | 0.6673 | ||
| In the last week | 0.6663 | 0.6771 | |
| In the last month | 0.6663 | 0.6927 |
The Aussie Dollar has fallen to its lowest AUD/USD exchange rate since 2009.
A weak session on Friday was enough to send the local currency to fresh 11 year lows as concerns over the coronavirus weighed on markets and the Australian currency.
The RBA
What helped drive the Australian dollar higher was the upbeat statement that came with the decision. It painted a fairly positive picture of the Australian economy while still acknowledging the potential downside of the Australian bushfires and coronavirus.
This came after the AUD got a small boost from RBA comments along with a Statement on Monetary Policy on Friday
After considering this balance, the Board decided to maintain the cash rate unchanged. We recognise, though, that the nature of this balance between benefits and risks can change over time and it is dependent upon the state of the economy.
– Reserve Bank Governor Dr Philip Lowe
Up Next
GDP figures in Europe and the UK should give an update on the health of the Eurozone. The central bank in NZ is also expected to keep interest rates on hold at 1%. Locally, the head of Australia's RBA is due to speak on Thursday.
| Country | Day | Event |
|---|---|---|
| China | Monday | Consumer Price Index (CPI) |
| New Zealand | Tuesday | RBNZ interest rate statement |
| USA | Wednesday | US Fed Chairman Powell testifies |
| Australia | Tuesday | CBA PMI for January |
| Australia | Thursday | RBA's Governor speech |
| Eurozone | Friday | GDP |
| USA | Friday | Retail Sales |
