Aussie dollar drops 1 cent in the first week of 2020
In short AUD/USD started the year above 70 cents but has fallen below 69 cents The move is largely because of a stronger US dollar The Australian dollar has also fallen against the other major currencies Time Open Low High Today 0.6869 In the last week 0.6861 0.7046 In the last month 0.6802 0.7046 This morning ,the Australian dollar has opened lower agains the US dollar, Euro, Japanese Yen and British Pound. Yesterday, ANZ Job Advertisement figures showed a sharp drop of over 6% in December. These figures are considered a ‘leading indicator’. In this case if the number of […]
The Australian Dollar opens 2020 above 70 cents but then falls
In short AUD/USD finishes 2019 just above 70 cents A stronger US dollar sends it lower in early January Forecasts for the Australian dollar in 2020 predict a lower exchange rate Time Open Low High Today 0.6942 In the last week 0.6932 0.7046 In the last month 0.6802 0.7046 The Australian dollar had a strong end to 2019, hitting a 6 month high above 70 cents on the last day of the year. With holidays in most major markets, it has been a slow start to the calendar year. The AUD/USD exchange rate has fallen back below 70 cents as […]
Australian dollar bolts higher on strong employment data
In short Unemployment unexpectedly fell to 5.2% The drop in unemployment was largely driven by part-time employment The AUD rose against all the major currencies but remains under 69 cents against the US dollar Time Open Low High Today 0.6877 In the last week 0.6840 0.6934 In the last month 0.6759 0.6934 The Australian dollar rose today against all the major currencies but remains just under 69 US cents. At 1130 AEDT, the Australian Bureau of Statistics released the labour force data. This includes The unemployment rate The number of new jobs created or lost, both full-time and part-time The […]
Aussie dollar drifts lower ahead of unemployment data
In short The Aussie dollar continues to trade lower against the US dollar In a mixed 24 hours, the AUD has opened higher against the British Pound (GBP), flat against the NZ Dollar (NZD) and down against the Euro (EUR) Australian unemployment data out tomorrow Time Open Low High Today 0.6853 In the last week 0.6806 0.6934 In the last month 0.6759 0.6934 The Australian dollar has had a fairly uneventful week so far. After hitting a 5 month high above 69 cents on Friday, it has drifted more than 1% lower. The AUD/USD exchange rate which was driven higher […]
Australian dollar softer as GBPAUD soars
In short AUD/USD eases from recent highs and falls back below 69 cents GBPAUD rises following British election to its highest point in over 3 years Australian unemployment data out later this week Time Open Low High Today 0.6870 In the last week 0.6802 0.6934 In the last month 0.6759 0.6934 The Australian dollar lost ground to the US dollar early on Monday, drifting below 69 cents. On Friday, the AUD/USD had reached a multi month high of 0.6934 with high hopes of a trade deal between the US and China. On the same day, the GBP/AUD hit a multi […]
AUD/USD back above 69 cents as the UK votes – again
In short The Australian Dollar rose above 69 cents on the hopes of a trade deal between the US and China It’s at it’s highest point against the AUD/USD in over 4 months The Conservative Party looks like it will win the UK Election Time Open Low High Today 0.6927 In the last week 0.6802 0.6936 In the last month 0.6759 0.6936 The AUD to USD exchange rate hit a 4 month high of 0.6936 early this morning. It was largely driven by a weaker US dollar. The US dollar weakened because the market thinks that the US and China […]
Australian Dollar hits a 5 week high making it cheaper to travel
In short AUD/USD hits 0.6888 as interest rates stay on hold in the US The Australian Dollar also went up against the Euro, Japanese Yen, British Pound and New Zealand Dollar The election in the UK could affect the AUD to GBP exchange rate Time Open Low High Today 0.6876 In the last week 0.6802 0.6888 In the last month 0.6759 0.6888 Yesterday, the Aussie dollar fell to 0.6802 before rising more than 1% overnight. Consumer confidence figures confirmed the weakness in the economy. The figures showed a fairly pessimistic outlook of Australian consumers despite 3 interest rate cuts and […]
The Big events for the Australian Dollar this week
In short It’s been a quiet start to the week with little movement on currency exchange rates The head of the RBA speaks today which may move the Aussie dollar The US Federal Reserve sets interest rates this week with no change expected. Britain goes to the polls Time Open Low High Today 0.6826 In the last week 0.6815 0.6859 In the last month 0.6756 0.6863 Yesterday, the head of the Reserve Bank of Australia, Dr Philip Lowe gave a speech about payment systems. While the speech was interesting, it didn’t contain any indication on the outlook for interest rates […]
Australian dollar falls across the board as retail sales figures shows an economy stuck in neutral
In short The Australian dollar opened up on Friday down against the US dollar, Euro, Japanese Yen, British Pound and the New Zealand dollar Retail sales figures showed 0.0% growth compared to an expectation of about 0.3% While the figures show the economy is not growing, it isn’t a massive surprise Time Open Low High Today 0.6831 In the last week 0.6756 0.6859 In the last month 0.6756 0.6909 The Aussie dollar opened this morning down against all the major currencies. Weak retail sales figures out yesterday sent the Australian dollar lower. Why? Well, the figures showed that there was […]
Mixed day for the AUD ahead of retail sales data
In short The US dollar and Japanese Yen weakened overnight, pushing the AUD/USD and AUD/JPY higher The AUD opens lower against the Pound Sterling and flat against the Euro and NZ dollar Retail sales data out today could have a limited impact on the exchange rate Time Open Low High Today 0.6849 In the last week 0.6756 0.6861 In the last month 0.6756 0.6926 The Australian dollar opens this morning with mixed performance against the major currencies. It is up against the US dollar and Japanese Yen, down against the British Pound and flat against the New Zealand dollar and […]
After moving up more than 1%, the Australian dollar is starting to fade
In short Strong Australian trade data helped the AUD higher The RBA keeping rates on hold also supported the currency Late today, the AUD/USD started to fall to 0.6822 by the end of trade Time Open Low High Today 0.6822 In the last week 0.6756 0.6861 In the last month 0.6756 0.6926 The AUD/USD exchange rate managed to move higher on Tuesday and early on Wednesday thanks to a couple of Australian economic events. First, the trade balance figures came out. It showed a current account surplus for the second month in a row – something that hasn’t happened in […]
Strong Chinese and weak US data sends the Australian dollar higher
In short Strong Chinese manufacturing data helps the Aussie dollar higher Weaker than expected economic data from the US also sent the US dollar lower The AUD/USD went above 68 cents but the AUD/NZD fell below 1.05 Time Open Low High Today 0.6817 In the last week 0.6756 0.6823 In the last month 0.6756 0.6926 The Australian dollar opened up on Tuesday above 68 cents for the first time in a week an a half. There were 2 main drivers of the move higher. Firstly, manufacturing data out of China was better than expected. Why should this help the Australian […]
Australian Dollar opens the month heading down
In short The Australian dollar is falling against the US dollar It is also down against the New Zealand Dollar, Euro, British Pound and Japanese Yen The RBA meeting on Tuesday headlines a busy week for currency markets Time Open Low High Today 0.6760 In the last week 0.6756 0.6799 In the last month 0.6756 0.6926 The Australian dollar will open the week and the last of the month lower against the US dollar. It has been falling steadily for the last 3 weeks, particularly against the US dollar and NZ dollar losing 2-3%. It has not been volatile though. […]
Australian Dollar likely to end November on a low point
In short The Australian dollar has lost ground in November It has lost the most ground to the US dollar but is also down against the New Zealand Dollar, Euro, British Pound and Japanese Yen Interest rate expectations in Australia weighs on the AUD Time Open Low High Today 0.6766 In the last week 0.6761 0.6811 In the last month 0.6761 0.6926 The Australian dollar falling In November, the Australian dollar has fallen: 1% against the US dollar and more than 2% from it’s recent peak at 0.6926 1% against the British Pound and more than 2% from it’s recent […]
Central bank chiefs speak and for once, nothing happens
In short The RBA Governor spoke last night about unconventional monetary policy tools The head of the US Federal Reserve also spoke overnight Neither speech moved either the US dollar or the Australian dollar Time Open Low High Today 0.6787 In the last week 0.6768 0.6821 In the last month 0.6768 0.6926 So what did they say? Basically, the RBA Governor outlined that IF unemployment increases and inflation remains low, they will cut rates before considering anything like Quantitative Easing (QE) They won’t consider it until interest rates go to 0.25% They will not cut interest rates below 0% The […]
Is the Aussie Dollar vulnerable to another fall?
In short The Australian dollar has fallen for most of 2019 and is still close to a 10 year low More interest rate cuts could send the AUD/USD even lower Tonight the RBA Governor speaks Time Open Low High Today 0.6776 In the last week 0.6768 0.6830 In the last month 0.6776 0.6926 The Australian dollar has broadly moved lower throughout 2019. Starting the year above 70 cents, it had a brief rally up to 0.7250 before a gradual decline all year. Each time the AUD to USD rate moved higher, it seemed to fall days or weeks later. Since […]
Australian Dollar Opens Below 68 cents and under pressure
In short The Australian dollar was flat on Friday and Saturday, opening Monday below 68 cents The AUD has been under pressure this month This week, we hear from the RBA on Tuesday morning and Tuesday evening. Time Open Low High Today 0.6791 In the last week 0.6782 0.6830 In the last month 0.6776 0.6926 The Australian dollar had a lacklustre end to the week, limping into the weekend below 68 cents. It was a quiet day for most currency markets with little movement against the other major currencies. This week, we hear from the RBA on Tuesday morning and […]
GBP/AUD hits 1.9000 for the first time in years
In short The GBPAUD hits 1.9000 for the first time since the Brexit in June 2016 The British Pound has gradually been getting strong against the Australian dollar for 3 years The AUD/NZD also broke new ground, sinking below 1.0600 Time Open Low High Today 1.9020 In the last week 1.8350 1.9064 In the last 5 years 1.5909 2.2089 The Australian dollar lost a little ground overnight. The AUD/USD fell below 68 cents while the AUD/NZD fell under 1.0600 for the first time in almost 3 months. The small fall was enough to push the GBP/AUD up above 1.9000 for […]
