Australian Dollar Opens Below 68 cents and under pressure

ball bouncing

In short

  1. The Australian dollar was flat on Friday and Saturday, opening Monday below 68 cents
  2. The AUD has been under pressure this month
  3. This week, we hear from the RBA on Tuesday morning and Tuesday evening.

AUD to USD exchange rates

TimeOpenLowHigh
Today0.6791
In the last week0.67820.6830
In the last month0.67760.6926

The Australian dollar had a lacklustre end to the week, limping into the weekend below 68 cents.

It was a quiet day for most currency markets with little movement against the other major currencies.

This week, we hear from the RBA on Tuesday morning and Tuesday evening. The market will be closely watching comments from the the top 2 heads of the central bank. Any indications that interest rates could be cut next week during the last RBA meeting of 2019 would most likely see the Australian dollar fall. Alternatively, if the RBA indicates that they will keep rates on hold until 2020, we could see a modest bounce in the Aussie dollar.

Overseas, there is a raft of data out this week however few surprises are expected. CPI or inflation data out of the UK, Japan and Europe should confirm what has been know for years - that the western world is gripped in a low inflation environment.

Up Next

This week, we hear from the RBA in quick succession on Tuesday morning then again on Tuesday night.
Overseas, markets will be watching GDP data out of the US and Canada along with inflation data from the UK, Europe and Japan.

 

CountryDayEvent
AustraliaTuesdayRBA Governor Speech
USATuesdayFederal Reserve Chair Powell Speech
USAWednesdayGDP data
JapanThursdayCPI (inflation) data
EurozoneFridayCPI (inflation) data
CanadaFridayGDP data