Articles written by Justin Rampono
The Australian dollar is facing a mixed outlook against the Euro in 2024. The Australian dollar (AUD) has struggled against the Euro (EUR) in recent months. The EUR, which is the official currency of 19 of the 27 European Union (EU) member countries, peaked above €65.6¢ in January 2023. But it then saw a consistent decline, falling below the €60¢ barrier in the second half of the year. There are mixed forces at play which affect the value of the Euro, which covers a diverse area including the major economies of Germany, France and Italy
The outlook for the Australian dollar (AUD) against the New Zealand Dollar (NZD) is relatively flat in 2024. New Zealand is a relatively small country but its currency punches above its weight. The New Zealand dollar (NZD) is traded on global exchange markets far more than the country’s relative share of global GDP. Its value is also of crucial interest to Australians, given New Zealand remains our most popular travel destination. In 2022-23, Australians made more than 1.19 million trips to the country, according to ABS data. While the two countries have close cultural and economic links, the exchange rate […]
The Australian dollar (AUD) has been on a wild ride against the British Pound (GBP) in 2023 but 2024 may spell a different story. The Australian dollar (AUD) weakened considerably against the British Pound (GBP) in 2023 but it could strengthen slightly in 2024. The AUD peaked at almost 58p in February 2023, before sinking to almost 50p in August as multiple economic factors weighed down sentiment. The relative weakness in the Australian dollar has made the cost of travel more expensive for many Australians, with the United Kingdom our fourth most popular international destination, according to ABS data.
The Australian dollar (AUD) could be set to weaken against Japan’s Yen (JP¥) in 2024 if its central bank starts to unwind the country’s ultra-loose monetary policy settings. The Australian dollar (AUD) has traded around decade highs against Japan’s Yen (JP¥) in 2023 although the situation may be set to change as its economy begins to stir, according to analysts. The potential turnaround follows a strong year for the AUD against the JP¥, peaking at almost JP¥97.5 in June 2023 before falling to JP¥92.76 in August. Japan’s strong currency also helped underpin surging inbound tourism after it re-opened in October […]
The value of the Australian dollar (AUD) against the US Dollar (USD) could be about to lift in 2024 after a prolonged bout of weakness. The Australian dollar (AUD) lost almost 6 per cent against the US dollar (USD) over the first nine months of 2023 thanks to rising US interest rates and China’s economic slowdown. But analysts are predicting a slow rebound in 2024, albeit with some short-term weakness along the way. It has been a difficult period for the AUD, which momentarily peaked above US71¢ in early-February 2023 before falling to around US62¢ in October – its lowest […]
Australian Dollar Forecasts for 2024 Track the Australian dollar The Australian dollar’s (AUD) performance will be driven by a diverse range of factors in 2024. The Australian dollar (AUD) is one of the most heavily traded currencies in the world, with its value influencing the decisions of individuals, businesses and government. Exchange rates are notoriously volatile with the AUD’s performance driven by factors including Australia’s interest rates, inflation, terms of trade, and risk sentiment. While the value of the AUD is typically measured against the US dollar (USD) – which is the world’s principal reserve currency – the AUD’s value […]