FX News

AUD/USD Transfer

US Manufacturing figures overnight came in soft under 50 while Services PMI numbers improved making the first expansion in the industry in 5 months. This boosted the US Dollar (USD) off 0.6580 levels to 0.6550 this morning. Apart from this slump the Australian Dollar (AUD) has had a decent week after kicking around 0.6540. A soft landing of the US economy is being talked up by Jefferson, vice chair of the Fed; however, rate cuts will depend on upcoming economic progress and the pace of inflation. Next week’s Australian CPI y/y is our key release with forecast of a drop into the 2’s.

The current interbank midrate is: AUDUSD 0.6556

The interbank range this week has been: AUDUSD 0.6520- 0.6594

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