News

Australian dollar falls close to its lowest point in over 10 years

In short The Australian dollar fell again overnight The AUD/USD is close to it’s lowest point in 11 years The local currency is also falling against the Euro, Japanese Yen, British Pound and New Zealand Dollar Time Open Low High Today 0.6716 In the last week 0.6704 0.6853 In the last month 0.6704 0.7046 The Australian dollar hit 0.6704 this morning against the US dollar. While the AUD has been falling for a while, it hasn’t been this low in almost 11 years. The AUD to USD exchange rate is at it’s lowest point since the Global Financial Crisis in […]

Surprise reaction to inflation data as interest rate cuts look unlikely

In short Strong inflation data released in Australia yesterday Markets now pricing almost no chance of an interest rate cut in February Inflation could increase as a result of the Australian bushfires Time Open Low High Today 0.6749 In the last week 0.6738 0.6877 In the last month 0.6738 0.7046 Yesterday, inflation figures released to the market failed to move the Australian dollar exchange rate. The figures implied that inflation has stopped falling. Despite this, it still remains below the RBA’s target of 2-3%.   Why inflation figures can have an impact on the Aussie dollar One of the biggest […]

How the Coronavirus is impacting the Australian Dollar

In short The Coronavirus or COVID-19 has had a negative impact on the Australian dollar in many different ways Markets are reacting in a similar way to the SARS outbreak As the threat increases, the AUD is likely to remain under pressure Time Open Low High Today 0.6762 In the last week 0.6741 0.6877 In the last month 0.6741 0.7046 The Australian dollar has once again fallen on fears of the coronavirus spreading further. Here’s how it has performed in the last week: The AUD to USD exchange rate is down 1 cent to 0.6764 The AUD to EUR exchange […]

Australian Dollar unmoved by US China trade deal

In short Phase 1 of the US China Trade deal gets signed There has been little reaction on currency markets AUD/USD trades either side of 69 cents Time Open Low High Today 0.6906 In the last week 0.6850 0.6951 In the last month 0.6841 0.7046 The Australian dollar has failed to continue higher after its strong start to the week. The local currency has drifted sideways, trading just above and below 69 US cents. The AUD is not alone though. Most currencies have had a quiet week with little volatility. Overnight, the first phase of the US China trade deal […]

Currency Exchange Birkdale

Australian Dollar opens the week higher against most major currencies

In short The Australian dollar rose on Friday night It has opened higher against the US Dollar (USD), Euro (EUR), British Pound (GBP), Japanese Yen (JPY) and New Zealand Dollar (NZD) Chinese GDP data out on Friday Time Open Low High Today 0.6900 In the last week 0.6850 0.6957 In the last month 0.6841 0.7046 The Australian dollar has opened up agains most major currencies this morning following a strong Friday night. The move higher in the AUD to USD exchange rate was largely driven by a weaker US dollar. Non Farm Payroll figures came on Friday night. They are […]

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 […]