The Australian dollar is not moving in the same direction

moving in different directions

In short

  1. The Australian dollar opens the week moving down against the US dollar
  2. It's not all one-way traffic through. It is higher against the Japanese Yen (JPY) and British Pound (GBP)
  3. Chinese trade data and RBA minutes fail to move the currency markets

Australian Dollar (AUD) exchange rates so far this week

CurrencyOpenLowHighNow
AUD to USD0.67960.67530.67960.6783
AUD to EUR0.61600.61180.61600.6149
AUD to GBP0.53750.53650.53980.5377
AUD to NZD1.07201.07201.07631.0750
AUD to JPY73.7073.0573.7973.50

Where the Australian dollar is gonig

The Australian dollar fell on Monday against most currencies but has been mixed since.

The AUD/USD and AUD/GBP are slightly below where the rates opened this week.

The AUD/GBP and AUD/JPY have moved higher overnight reversing some of the losses from last week.

The AUD/NZD has moved higher suggesting that the NZD is weakening.

What to watch

In the last few years, Chinese economic data has taken on more and more importance to the Australian dollar.

This week the market will get plenty of it.

At the end of the week, China growth (GDP), Retail sales and Industrial Production figures come out rounding out a jam packed week.

 

Closer to home, on Thursday sees our monthly employment numbers out.

 

Other important dates to watch are:

  • Wednesday: Retail sales in the USA and inflation data in the UK
  • Thursday and Friday: The European Council Summit on Brexit
  • Friday: A speech from Robert Kaplan of the US Federal Reserve

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