Australian dollar stronger overnight against the US dollar, Euro and Kiwi dollar but fails to fire against the Pound and Yen

In short

  1. The Australian is mixed against the major currencies lacking real direction
  2. The head of the RBA speaks today
  3. Interest rates are likely to be cut in the US on Wednesday

Exchange rates

CurrencyOpenLowHighNow
AUD to USD0.68220.68140.68680.6865
AUD to EUR0.61560.61330.61830.6178
AUD to GBP0.53180.52910.53450.5334
AUD to NZD1.07431.06661.08041.0794
AUD to JPY74.1273.9874.8074.69

The Australian dollar had a mixed night, moving higher against the US dollar, Euro and NZ dollar but ended up flat against the British Pound and Japanese Yen.

What does that all mean?

Well the small movements suggest that the AUD is lacking direction. This should all change today and tomorrow.

Later Tuesday, the RBA chief is due to deliver a speech. Recently, these talks have moved the Australian dollar because they provide insights into where Australian interest rates are headed. Interest rates have a big influence on the value of a currency. So when the RBA is upbeat about the Australian economy or downplays the need for interest rate cuts, the Australian Dollar tends to go up.

Up Next

This week, it's all about central banks and (cutting) interest rates.

 

CountryDayEvent
AustraliaTuesdaySpeech by the RBA head, Dr Philip Lowe
AustraliaWednesdayConsumer Price Index (CPI) Quarterly inflation data
USAWednedsayInterest Rate Decision
CanadaWednedsayInterest Rate Decision
JapanThursdayInterest Rate Decision
EurozoneThrusdayGDP figures
USAFridayNon Farm Payrolls

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