News

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 […]

Aussie dollar bounces back above 68 cents

In short The Australian dollar fell below 68 cents yesterday before bouncing last night Minutes from the RBA indicated they nearly cut interest rates in November Despite the bounce overnight, it remains lower against most major currencies compared to last week Time Open Low High Today 0.6827 In the last week 0.6772 0.6853 In the last month 0.6772 0.6926 The Australian dollar had a wild ride yesterday, dropping about half a cent below 68 cents before bouncing last night. Once a month the Reserve Bank of Australia releases the minutes from its meeting. Yesterday, the market got a look at […]