Australian dollar plummets to lowest level since 2003
In short The AUD/USD falls to a 17 year low, finishing the week below 62 cents The US dollar is strengthening as investors seek the shelter of ‘safe haven’ assets Risk will likely dictate the direction of the Australian dollar Time Open Low High Today 0.6184 In the last week 0.6130 0.6682 In the last month 0.6130 0.6732 On Friday, the USD dollar got stronger, pushing the AUD to USD exchange rate to a 17 year low. It finished a remarkable week with the Aussie dollar fell more than 5 cents which has not been seen since the GFC. The […]
Australian dollar falls 1 cent as governments roll out stimulus measures to combat COVID-19
In short Markets rally on the back of announced stimulus measures USD strengthens forcing AUD/USD down 1 cent AUD falls against the Euro and NZ dollar but flat against the pound and yen Time Open Low High Today 0.6491 In the last week 0.6472 0.6681 In the last month 0.6464 0.6748 The Australian dollar has fallen more than 1 cent agains the US dollar. The US dollar strengthened after Donald Trump announced measures the US government would take to stimulate the economy. This includes tax cuts, loans and financial relief. These measures are aimed at boosting the economy as it […]
3 Big reasons the Australian dollar is so low
There are 3 main reasons the Australian dollar is so low and they are all have one thing in common – China. China is Australia’s largest trading partner, not just for commodities like iron ore and coal but also for our other important exports like tourism and education. The impact of the coronavirus in China has disrupted the Chinese economy, lowering the demand for commodities Chinese student and tourist numbers have drastically fallen Market panic has made ‘safe haven’ currencies like the US dollar (USD) stronger and ‘commodity’ currencies like the Aussie dollar weaker One of the main reasons […]
Australian dollar recovers after a flash crash to 63 cents
In short Australian dollar ‘flash crash’ sends it to an 11-year low for 20 seconds Traders blame the crash on algorithmic trading platforms Panic hitting markets has increase volatility Time Open Low High Today 0.6597 In the last week 0.6472 0.6655 In the last month 0.6464 0.6748 The Australian dollar collapsed more than 5% in 20 minutes as a mixture of panic and programmatic trading brought the exchange rate tumbling. It did recover to finish the day close to where it began. If you ever wondered what would happen if someone lobbed a hand grenade into a bloodbath, now you […]
Aussie dollar continues to bounce higher as US dollar weakens
In short AUD/USD moves higher after a surprise interest rate cut in the US AUD/NZD hits a 4 month high Stronger than expected Q4 GDP data released yesterday Time Open Low High Today 0.6625 In the last week 0.6464 0.6637 In the last month 0.6464 0.6771 The AUD/USD has bounced higher in the last 48 hours moving more than 1 cent higher against the US dollar. The gains have largely been driven by a weaker US dollar. Yesterday, the market was surprised when the US Federal Reserve held an emergency meeting and cut interest rates. It spooked markets, sending the […]
Interest rates fall in direct response to the coronavirus
In short The RBA cuts interest rates by 0.25% to 0.50% In the first paragraph of the statement, the central bank states that it “took this decision to support the economy as it responds to the global coronavirus outbreak.” The Australian dollar went up marginally but is still between 65 and 66 cents Time Open Low High Today 0.6555 In the last week 0.6464 0.6621 In the last month 0.6464 0.6770 The Reserve Bank of Australia cut official interest rates from 0.75% to a new historic low of 0.50%. It was in direct response to COVID-19 outbreak and they stated […]
Australian dollar drops under 65 cents as pandemic fears move markets
In short The AUD/USD fell below 65 cents as soon as markets opened Monday morning It’s the first time the Australian dollar has gone under 65 cents since the GFC It’s a big week for the Australian dollar with the RBA meeting tomorrow Time Open Low High Today 0.6468 In the last week 0.6464 0.6621 In the last month 0.6464 0.6770 The Australian dollar was hammered last week, hitting an 11 year low but holding above 65 cents. As soon as foreign exchange markets opened this morning, that trend continued as the local currency fell below 65 cents for the […]
AUD heads below 66 cents as virus fears grip markets
In short AUD USD falls below 66 cents for the first time since the GFC The Australian dollar has held up against the other major currencies Little economic data out this week Time Open Low High Today 0.6599 In the last week 0.6587 0.6706 In the last month 0.6587 0.6821 The AUD/USD has spent this week trading either side of 66 cents. It has been slipping lower against the US dollar for a few weeks as coronavirus fears increase. Interestingly, the Australian dollar has not fallen against all currencies. In fact, it has largely remained unchanged against the Euro, British […]
The Aussie dollar opens the week above 67 cents. But how long will it last?
In short The AUD/USD starts the week just above 67 cents The Australian dollar is up against the Euro, down against the British pound and flat against the NZ dollar and Yen Australian employment data out Thursday Time Open Low High Today 0.6725 In the last week 0.6672 0.6750 In the last month 0.6663 0.6887 Currency markets started the week how then ended it – fairly flat and quiet. The Australian dollar has barely moved against the US dollar or any of the major currencies in the last few days. This is because there has not been any unexpected news […]
AUD/USD fails to rebound back above 67 cents
In short The AUD/USD rose above 67 cents yesterday before falling again Coronavirus fears appear to be driving risk sentiment AUD/NZD hits a 2 month high Time Open Low High Today 0.6685 In the last week 0.6663 0.6771 In the last month 0.6663 0.6927 The Australian dollar rebounded above 67 cents briefly yesterday before falling back overnight. Any gains for the AUD/USD exchange rate have been limited since the outbreak of the coronavirus last month. The AUD was largely flat against most of the major currencies except the AUD/NZD, which has hit a 2 month high above 1.0450. This seems […]
Australian Dollar hits lowest point since 2009
In short The Australian dollar is at its lowest point against the US dollar since 2009 Falling commodity prices and concerns over the coronavirus have weighed heavily against the AUD RBA Governor Lowe to speak again this week Time Open Low High Today 0.6673 In the last week 0.6663 0.6771 In the last month 0.6663 0.6927 The Aussie Dollar has fallen to its lowest AUD/USD exchange rate since 2009. A weak session on Friday was enough to send the local currency to fresh 11 year lows as concerns over the coronavirus weighed on markets and the Australian currency. The RBA […]
Currency in the USA
Currency in the US What Currency is Used in the USA The currency used in the US is called the US dollar (USD) and is represented by the symbol $. It is the most recognised, traded and accepted currency in the world. Other names it is called include the ‘greenback’ (financial settings) or ‘buck’ (informal settings). US dollars are available in many different denominations. This includes seven denominations in notes, as seen in our pictures. American banknotes are made with a blend of 25% linen and 75% cotton, making them a little less impervious to wear and tear than plastic […]
Currency in the UK
A Travel Money Guide to the UK So you’re making the pilgrimage to ol’ Blighty. One of the best ways to prepare for your trip is to get up to speed on the UK currency. Get your money’s worth and feel a little travel savvy with this helpful traveller’s guide to the British pound. Here’s what you’ll learn: The currency commonly used in the UK Using bank cards in the UK What British pounds actually look like What the local currency will get you in the UK The foreign exchange rate on the Pound Sterling What to do with your […]
Currency in Spain
A Travel Money Guide to Spain It’s on many people’s bucket lists but you’re finally getting there! A trip to Spain is on your calendar and you’re about to experience everything we love about this country, from Picasso to Gaudi, tapas to paella, bullfighting to the flamenco, and sangria on the pristine beaches. But how do you make it by with the Spanish currency? We’ve developed this guide to give you a complete lowdown on everything you need to know about the euro, currency exchange, and paying in Spain. You’ll learn about: The official currencies of Spain The pros and […]
Currency in Slovenia
A Travel Money Guide to Slovenia It’s unlikely Slovenia will stay an untouched destination for long. Already tourists are flocking to Lake Bled but Slovenia has far more to offer than that beautiful lake. Are you ready to explore Slovenia’s Mediterranean seaside towns, jaw-dropping Alpine scenes, famous wine region, and the fairytale streets of Ljubljana? However long you’re staying, you’ll stay ahead of your budget with a better understanding of Slovenia’s money situation. Read on to find out more about: The official currency of Slovenia The pros and cons of using a bank card in Slovenia What the Slovenian Euro […]
Currency in Slovakia
A Travel Money Guide to Slovakia Slovakia is an unusual travel destination still comparatively untrammelled by tourists to Europe. Yet there’s so much to offer, from the small country’s mystical castles and charming towns to captivating mountains and stunning glacial lakes. If you’re heading to Slovakia and you’re looking for the best value, you’ll want to read up on the local currency, along with everything from bank card payments and ATM withdrawals to currency exchanges. We’re here to get you up to speed fast. This guide covers everything you need to know, including: The official currency of Slovakia The pros […]
Currency in Scotland
A Travel Money Guide to Scotland Wild, windswept landscapes, long-forgotten castles, and (of course) the lake with the elusive monster. Scotland is a mystical, exciting destination. And now you’re headed there! Be better prepared for your trip by familiarising yourself with Scotland’s currency and preferred methods of payment. This traveller’s guide will help you become a little more travel savvy and ready to make stretch your savings. You’ll learn: The currency commonly used in Scotland Using bank cards in Scotland What Scottish pounds actually look like What the local currency will get you in Scotland The foreign exchange rate on […]
Currency in Portugal
A Travel Money Guide to Portugal Famous for its port wine and custard tarts, its pristine beaches, and its athletic football stars, Portugal is a fascinating destination to visit. And now you’re heading there yourself! But to make your savings stretch, it’s helpful to know everything you can about currency exchange and spending in Portugal. In this guide, you’ll find out about: The official currency of Portugal The pros and cons of using a bank card in Portugal What the Portuguese Euro looks like The average costs of things in Portugal How the euro converts What to do with leftover […]
