All eyes on the RBA this week
In short The Australian dollar starts the week as it finished – between 67 and 68 cents Very little movement against the New Zealand Dollar, British Pound, Japanese Yen or Euro The RBA meets on Tuesday with 75% of the market pricing in another interest rate cut Time Open Low High Today 0.6765 Yesterday NA NA In the last week 0.6747 0.6801 In the 3 months 0.6734 0.7044 This week, the Reserve Bank of Australia (RBA) will meet on Tuesday and decide if they should cut official interest rates for the third time this year. They also release a statement […]
Australian Dollar finishes the week flat against all major currencies
In short The Australian dollar finishes the week as it started – between 67 and 68 cents Very little movement against the New Zealand Dollar, British Pound, Japanese Yen or Euro The RBA meets on Tuesday with 75% of the market pricing in another interest rate cut Time Open Low High Today 0.6751 Yesterday 0.6747 0.6778 In the last week 0.6747 0.6801 In the 3 months 0.6727 0.7022 Last night in the US, the GDP and Trade Balance figures came in close to expectations, leaving the markets little to react to. Here is where the Australian Dollar (AUD) has traded […]
The AUD continues to ignore global political turmoil
In short AUD to USD almost unchanged Currency markets are waiting on US economy growth (GDP) figures and speeches from central banks The RBA meets on Tuesday with 75% of the market pricing in another interest rate cut Time Open Low High Today 0.6750 Yesterday 0.6741 0.6759 In the last week 0.6747 0.6804 In the 3 months 0.6738 0.7022 Once again, most major currencies ‘traded sideways’. What does that mean? Well, there was little movement because despite the political unrest, there was no economic data to move the market. So it looks like the Australian dollar is unlikely to move […]
Political drama abroad fails to move the Aussie dollar
In short AUD to USD continues to trade either side of 68 cents against the US dollar The RBA is likely to cut interest rates in October but thinks the economy is turning the corner Brexit drama in the UK continues while the Democrats in Washington move to impeach Trump Time Open Low High Today 0.6798 Yesterday 0.6789 0.6802 In the last week 0.6765 0.6841 In the 3 months 0.6718 0.7032 The head of the Reserve Bank of Australia (RBA), Philip Lowe gave a speech yesterday. With most economists predicting that they will cut interest rates in October, the governor […]
The Australian Dollar bounces but remains under pressure
In short The Australian dollar opens higher but lost ground last week The AUD/USD remains below 68 cents RBA governor to speak this week Time Open Low High Today 0.6774 Yesterday 0.6767 0.6779 In the last week 0.6765 0.6868 In the 3 months 0.6710 0.7044 The Australian dollar didn’t move a great deal on Monday. Why? Well for most of our day, Europe and the US is still asleep from the weekend. So unless there is a big local event in Australia, New Zealand or Asia, there can be little movement in the Australian Dollar (AUD). When Europe and the […]
Where will the AUDNZD rate go for the rest of 2019?
Possibly. The top banks in Australia and New Zealand have a pessimistic outlook for both the Aussie (AUD) and the Kiwi (NZD) near-term. With both currencies falling further and faster than expectations, top banks have lowered their AUDUSD outlook and NZD forecast. The question is, which currency will be weaker relative to the other? Recently, the AUDNZD bounced, which suggests the Aussie currency is performing slightly better than its Kiwi counterpart. The top banks expect the AUD to NZD exchange rate to rise, because the New Zealand dollar will remain weak compared to the Australian dollar. Check today’s AUDNZD Forex […]
