How will the Aud perform in the future?

It's extremely difficult to predict how any currency pair will perform in the future. Inflation, interest rate hikes and the threat of a recession all have the potential to impact currency values here and overseas, while economic developments in China can also have a significant effect on the AUD's performance.

Why did the Aud fall in June?

The AUD recovered against the USD in June reaching $0.687 but since then it's hit a new low for the year at 0.634 USD. According to the Commonwealth Bank, "The main reason for the fall in AUD is the fall in commodity prices. China's Two Sessions meetings did not deliver policy stimulus that we expected to support metal prices."

Why has the Aud risen so much in 2023?

From a record low of 0.10% in April 2022, the Reserve Bank has made regular increases to the official cash rate, which sits at 4.10% as of October 2023. Interest rate hikes tend to increase foreign investment demand for the AUD, which helps drive the value of the Aussie dollar higher. Inflation.

Will AUD outperform commodity currencies in 2023?

According to NAB, the AUDUSD rate will be approximately 70 cents by mid-year 2023. According to NAB, the AUD will reach 0.72 to the US dollar by June 2024. According to the research group, the AUD will outperform commodity currencies in 2023, with the dollar dominance fading as global inflation controls.