In short
- The Australian is mixed against the major currencies lacking real direction
- The head of the RBA speaks today
- Interest rates are likely to be cut in the US on Wednesday
Exchange rates
| Currency | Open | Low | High | Now |
|---|---|---|---|---|
| AUD to USD | 0.6822 | 0.6814 | 0.6868 | 0.6865 |
| AUD to EUR | 0.6156 | 0.6133 | 0.6183 | 0.6178 |
| AUD to GBP | 0.5318 | 0.5291 | 0.5345 | 0.5334 |
| AUD to NZD | 1.0743 | 1.0666 | 1.0804 | 1.0794 |
| AUD to JPY | 74.12 | 73.98 | 74.80 | 74.69 |
The Australian dollar had a mixed night, moving higher against the US dollar, Euro and NZ dollar but ended up flat against the British Pound and Japanese Yen.
What does that all mean?
Well the small movements suggest that the AUD is lacking direction. This should all change today and tomorrow.
Later Tuesday, the RBA chief is due to deliver a speech. Recently, these talks have moved the Australian dollar because they provide insights into where Australian interest rates are headed. Interest rates have a big influence on the value of a currency. So when the RBA is upbeat about the Australian economy or downplays the need for interest rate cuts, the Australian Dollar tends to go up.
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 |
