Aussie dollar drifts lower

drifting

In short

  1. The Aussie dollars continues lower against the US dollar but mixed against other major currencies
  2. Lack of direction so far this week
  3. The AUD to could test recent 10-year lows below 67 cents

AUD to USD exchange rate

TimeOpenLowHigh
Today0.6729
Yesterday0.67290.6749
In the last week0.66830.6771
In the 3 months0.66830.7044

What's happening?

Not a great deal.

With few major economic data releases, the Australian dollar is drifting against most other currencies.

There has also been little on the two main political issues - Brexit and the US  / China trade war.

 

So, when will the Australian dollar (AUD) go back up?

There are a few of situations which could see the Aussie dollar go back up.

  • If the US dollar goes down. So if the US economy weakens or slows quicker than expected and interest rates fall, the US dollar could fall too. This would help the Aussie dollar higher
  • If commodity prices, particularly iron ore and coal, go higher
  • The Australian economy turns the corner quickly

Up Next

On Wednesday, the meeting minutes from the FOMC in the US are released. This will indicate the thinking behind the most powerful central bank in the world and how likely they are to cut interest rates further.

Outside of that, there isn't a lot of important news that is likely to move the Australian dollar significantly.

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