FX News

AUD/USD Transfer

The Australian Dollar (AUD) rallied late Friday against the US Dollar (USD) reaching 0.6670 areas as risk markets continued to dominate moves based on impressive equities and metal prices. The surge to early August highs hasn’t lasted however with US Manufacturing contracting in November coming in at 46.7% worse than market expectations of 47.6% bringing back the AUD to Tuesday. Today’s RBA cash rate will remain unchanged at 4.35% but may signal ongoing attention to stubborn inflation, PMI and Retail Sales data. 3rd quarter data and inflation will be key to February’s policy meeting. Non-Farm Payroll prints Friday and is expected to reflect a rise to unemployment numbers.

The current interbank midrate is: AUDUSD 0.6620

The interbank range this week has been: AUDUSD 0.6603- 0.6690

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