The Australian Dollar bounces but remains under pressure

under pressure

In short

  1. The Australian dollar opens higher but lost ground last week
  2. The AUD/USD remains below 68 cents
  3. RBA governor to speak this week

AUD to USD exchange rate

TimeOpenLowHigh
Today0.6774
Yesterday0.67670.6779
In the last week0.67650.6868
In the 3 months0.67100.7044

How it happened

The Australian dollar didn't move a great deal on Monday.

Why?

Well for most of our day, Europe and the US is still asleep from the weekend. So unless there is a big local event in Australia, New Zealand or Asia, there can be little movement in the Australian Dollar (AUD).

When Europe and the USA did finally get started during our evening, markets had little to examine so most currencies including the US dollar (USD). Euro (EUR) and British Pound (GBP) ended the day close to their open.

Up Next

Next week we hear from the RBA governor although few surprises are expected. The Reserve Bank of New Zealand (RBNZ) may cut interest rates across the ditch. The GDP figures out of the US are also released on Thursday.

 

CountryDayEvent
AustraliaTuesdaySpeech by the RBA Governor
New ZealandWednesdayInterest rate decision
USAThursdayGross Domestic Product (GDP)

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