Aussie dollar finishes the week on a high

high five on the bus

In short

  1. The Australian dollar finished the week close its highest point at 0.6786
  2. The AUD/USD ends slightly higher than where it opened the week on 0.6760
  3. AUD/GBP fell sharply, finishing at 0.5364

Australian Dollar (AUD) exchange rates so far this week

CurrencyOpenLowHighNow
AUD to USD0.67600.68090.67140.6786
AUD to EUR0.61680.61110.61700.6150
AUD to GBP0.54910.53640.55280.5364
AUD to NZD1.07201.06701.07301.0708
AUD to JPY72.4371.8873.9373.55

What just happened?

The Australian dollar was mixed on Friday night. It went up against the US dollar and the Japanese Yen, finishing the week slightly higher.

In a complete reversal of fortune, the AUD/GBP fell all night and finished Saturday morning (Australian time) at its lowest point of the week. It lost nearly 3% over the last two days of the week.

Against other currencies, like the EUR and the NZD, the Aussie dollar finished the week very close to where it started.

 

Up Next

In the last few years, Chinese economic data has taken on more and more importance to the Australian dollar.

This week the market will get plenty of it.

Monday, China releases trade data like Imports, Exports and their overall trade balance.

On Tuesday, Chinese inflation data comes out.

At the end of the week, China growth (GDP), Retail sales and Industrial Production figures come out rounding out a jam packed week.

 

Closer to home, the RBA will release its meeting minutes on Tuesday and Thursday sees our monthly employment numbers out.

 

Other important dates to watch are:

  • Wednesday: Retail sales in the USA and inflation data in the UK
  • Thursday and Friday: The European Council Summit on Brexit
  • Friday: A speech from Robert Kaplan of the US Federal Reserve

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