Australian Dollar motors higher to end the week on a 1 month high

In short

  1. AUD/USD hits a 1-month high, finishing the week strong
  2. The Australian dollar was flat against most other countries
  3. China and European interest rate decisions next week

AUD to USD exchange rate

TimeOpenLowHigh
Today0.6855
In the last 24hrs0.68310.6855
In the last week0.67280.6855
In the 3 months0.67020.7040

How it happened

The Aussie dollar (AUD) continued higher against the US dollar on Friday night and into Saturday before markets closed for the week.

Driving it higher was weakness in the US dollar. It came as analysts increased the chance of an interest rate cut in the US by the end of October. If the US Federal Reserve does cut interest rates, it could propel the AUD/USD back above 70 cents.

Alternatively, if the US central bank holds of on an interest rate cut, the greenback could strengthen, pushing the AUD/USD back towards 65 cents.

Up Next

Next week it's all about interest rates. Central banks in China and the EU meet and decide on the official interest rates for 2 of the largest economies in the world.

In Australia, there is very little market news out.

 

CountryDayEvent
ChinaMondayPBoC Interest Rate Decision
AustraliaWednesdayPMI Manufacturing data
EurozoneThursdayInterest Rate Decision

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