The Australian Dollar (AUD) took on water for most of the week against the US Dollar (USD) dropping from 0.6680 levels to 0.6525 yesterday. Most of the downside was off the back of poor Aussie GDP, figures showing only a 0.2% rise in the third quarter after 0.5% was predicted. Household consumption has slowed over recent quarters and shows the fallout of higher interest rates on spending. Overnight equity markets have improved, the Nasdaq is up over 1.2% which has helped the AUD back over 0.6600. Non-Farm Payrolls print tomorrow, pushing through 0.6680 will be tough.
The current interbank midrate is: AUDUSD 0.6595
The interbank range this week has been: AUDUSD 0.6525- 0.6690