News

Australian Dollar tanks 2 cents in 2 weeks against the NZ dollar

In short AUD/NZD hits 1.0631 yesterday The Australian dollar has now fallen more than 2 cents in less than 2 weeks Despite the fall, the AUD/NZD remains above it’s average over the last year Time Open Low High Today 1.0643 Yesterday 1.0646 1.0613 1.0656 In the last week 1.0763 1.0607 1.0820 In the last month 1.0738 1.0607 1.0858 Just after the RBA kept rates on hold earlier this month, the AUD/NZD hit its highest point in over a year, reaching 1.0858. Since then, it’s been one way traffic south. The AUD to NZD exchange rate has fallen more than 2 […]

Australian dollar falls below 68 cents as unemployment rises

In short Unemployment in Australia rose in October There is a slightly higher chance of an interest rate cut As a result, the Australian dollar fell against most major currencies Time Open Low High Today 0.6895 In the last week 0.6911 0.6899 In the last month 0.6727 0.6926 For the first 3 day of this week, the Australian dollar barely moved. It sat around 68 and a half cents against the US dollar. Then, at 11:30 today, it fell more than 0.5% to under 69 cents for the first time in almost a month. Why? Well, once a month the […]

Why the outlook for the Australian Dollar is so uncertain

In short The Aussie dollar ends the week lower against the US dollar but flat or higher against other major currencies Strong trade balance figures fail to lift the AUD Forecasts for the Australian dollar vary but most point towards a lower exchange rate Currency Open Low High Now AUD to USD 0.6907 0.6863 0.6929 0.6879 AUD to EUR 0.6185 0.6168 0.6257 0.6224 AUD to GBP 0.5346 0.5344 0.5398 0.5368 AUD to NZD 1.0815 1.0863 1.0804 1.0804 AUD to JPY 74.60 74.58 75.65 75.13 The Australian dollar may have lost ground to the US dollar this week but it is […]

Aussie dollar drifts lower ahead of Trade Balance figures

In short The Australian dollar falls below 69 cents against the US dollar Mixed results against other major currencies Australian and Chinese trade balance data including imports and exports due out later in the week Time Open Low High Today 0.6881 In the last week 0.6871 0.6929 In the last month 0.6714 0.6929 Overnight the AUD/USD drifted below 69 cents for the second time this week. It wasn’t all bad news for the local currency though. It remained broadly unchanged against the Euro, British Pound and New Zealand Dollar. With the RBA meeting done for another month, the markets attention […]

RBA holds its horses as the Australian dollar advances

In short The Australian dollar is up against the Euro, Yen and NZ dollar The RBA leaves interest rates on hold Australian trade balance data including imports and exports due out later in the week Time Open Low High Today 0.6890 In the last week 0.6850 0.6929 In the last month 0.6714 0.6929 The Australian dollar moved higher against the Euro, Yen and NZ dollar overnight, adding around 1%. Meanwhile, the AUD/USD rate traded either site of 69 cents despite some gains yesterday. Yesterday, the Reserve Bank of Australia met just before the Melbourne Cup. With little chance of an […]

AUD finds support as the RBA keeps rates on hold

In short The Australian dollar fell overnight but recovered after the RBA left rates on hold The central banks view on the Australian economy also remained largely unchanged Australian trade balance data including imports and exports due out later in the week Time Open Low High Today 0.6908 In the last week 0.6844 0.6929 In the last month 0.6714 0.6929 The Australian dollar gained against most major currencies after the RBA left interest rates on hold at 0.75% After nearly 3 years of no change, the central bank has cut rates 3 times this year in June, July and October. […]