Aussie dollar drops 1 cent in the first week of 2020

us dollar bills falling

In short

  1. AUD/USD started the year above 70 cents but has fallen below 69 cents
  2. The move is largely because of a stronger US dollar
  3. The Australian dollar has also fallen against the other major currencies

AUD to USD exchange rates

In the last week0.68610.7046
In the last month0.68020.7046

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 businesses looking for workers is falling then the unemployment rate is more likely to rise in the future.

Following this announcement, the Australian dollar fell as the chances of an interest rate cut in February increased.

The AUD to USD exchange rate then fell again overnight as the US dollar strengthened. This time it was strong manufacturing data that showed the US economy is still healthy that helped the US dollar higher (and the Australian dollar lower).


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