FX News

AUD/USD Transfer

The Australian Dollar (AUD) managed to recover some of the early week losses against the US Dollar (USD) in a strong bear market to push off the low at 0.6385 to reach 0.6455 Thursday. Aussie dollar shorts took profit as Australian job numbers rose. Unemployment rose 0.1% to 3.8% in March while the employed fell by 6,600. The Australian labour market is expected to stay buoyant for some time with expectations of unemployment to be at 4.3% by year end. Spending will likely be squeezed with high interest rates. Interest rates not predicted to drop until later in 2024. With the cross trading below key support at 0.6450 we expect further bearish momentum.

The current interbank midrate is: AUDUSD 0.6411

The interbank range this week has been: AUDUSD 0.6387- 0.6492





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