FX News

AUD/EUR Conversion:

Volatile conditions in the Euro (EUR), Australian Dollar (AUD) pair this week based on both central banks rate decisions created shifting prices with the EUR the better off, edging ahead of the weekly open at 1.4840 (0.6740) to 1.4900 (0.6710) into early sessions today. The RBA raised their cash rate to 0.85% form 0.35% in a hawkish move, most market participants were expecting a 0.25% shift with this doubling. Comments were made of a potential 50-point rise in the July meeting to curb rising inflation. Meanwhile the European Central Bank did the opposite, keeping their rate on hold for a period of time- rises are predicted to begin post third quarter 2022 when they indicate QE will come to a close. This is contrasted to its central bank peers who have all started to tighten policy to bring inflation under control. The question is how aggressive the ECB will be with rates over the coming months. Our prediction is further upside for the Euro.

AUD/EUR pair this week:
The current interbank midrate is: AUDEUR 0.6699 EURAUD 1.4927
The interbank range this week has been: AUDEUR 0.6697- 0.6778 EURAUD 1.4754- 1.4930

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