Daily Exchange Rate Forecasts

Daily Insight Category

Investors were disappointed as the second quarter Australian gross domestic product data fell short of forecast, even though growth still picked up strongly on the quarter. This dented confidence in the domestic outlook, underlining the likelihood of the Reserve Bank of Australia (RBA) keeping interest rates on hold for longer. With market risk appetite faltering [...]

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There was no surprise in store for markets as the Reserve Bank of Australia (RBA) left interest rates on hold once again at its September meeting. However, while there was no change in monetary policy at this juncture the mood towards the Australian Dollar still picked up on Tuesday. As policymakers maintained a relatively upbeat [...]

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August’s TD securities inflation estimate did not offer the ‘Aussie’ any particular support at the start of the week. As the estimate dipped on the year from 2.7% to 2.6% this gave markets fresh reason to doubt the likelihood of the Reserve Bank of Australia (RBA) returning to a tightening bias in the near future. [...]

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Confidence in the health of the Australian economy improved on Friday, prompted by a solid uptick in August’s manufacturing PMI. As the domestic manufacturing sector continued to perform strongly this boosted the appeal of the antipodean currency, particularly as many of the majors suffered fresh slumps ahead of the weekend. A marked improvement in the [...]

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Demand for the ‘Aussie’ remained somewhat limited yesterday after July’s private sector credit data showed an unexpected dip on the year. This suggests that confidence within the Australian economy has eased, even though the second quarter private capital expenditure figure bettered forecast. With market risk appetite still rather muted thanks to global geopolitical tensions and [...]

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While July’s building approvals data showed a smaller-than-expected contraction on the year this was not enough to shore up the antipodean currency yesterday. Markets were still disappointed to find that approvals had contracted by a sharp -13.9%, a result which further undermined confidence in the domestic outlook. This left the ‘Aussie’ on a generally softer [...]

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Even though the general sense of market risk aversion picked up in the wake of the North Korean missile launch this failed to keep the ‘Aussie’ on a bearish trend for long. With the US Dollar still soft on the back of the diminished odds of an imminent Federal Reserve interest rate hike the downside [...]

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Risk appetite boosted the ‘Aussie’ as markets were disappointed by Fed Chair Janet Yellen’s Jackson Hole speech. With the Federal Reserve now looking less likely to achieve a third interest rate hike before the end of the year commodity prices were boosted by a softening US Dollar. This helped to overshadow the less positive mood [...]

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The latest report from credit ratings agency Moody’s failed to particular improve the appeal of the Australian Dollar. While the ratings agency noted that Australia’s AAA rating is not at risk this was coupled with a warning that government debt is expected to mount further over the coming year. This did not paint the most [...]

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Even though base metal prices remained on a bullish footing overnight this was not enough to shore up the Australian Dollar. As investors were inclined to sell out of higher-yielding currencies ahead of Friday’s Jackson Hole symposium AUD exchange rates struggled to find any particular traction. In the absence of fresh domestic data the appeal [...]

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