What's going on with AUDUSD in 2023?

Don't miss our 2023 AUDUSD forecast! The Australian Dollar is facing headwinds yet again against the US Dollar, as the central bank divergence theme is back in play in early 2023.

What is the Australian dollar forecast for 2023?

NAB's Australian dollar forecast is predicting the AUD to trade at 0.63 EUR for the rest of 2023, while the Commonwealth Bank is also expecting minimal change to the AUD/EUR rate. The Australian dollar has weakened against the pound in 2023, falling from 0.57 to 0.53 GBP.

What are Australia's major banks predicting in 2023?

But Australia's other major banks are a little more optimistic. Westpac is predicting the Aussie dollar to be trading at 0.69 USD in December 2023, while NAB is forecasting a 1 AUD = 0.74 USD exchange rate by the end of the year.

Will the AUD/EUR rate stabilise in 2023?

However, economists are expecting the AUD/EUR rate to stabilise throughout the rest of 2023. NAB's Australian dollar forecast is predicting the AUD to trade at 0.63 EUR for the rest of 2023, while the Commonwealth Bank is also expecting minimal change to the AUD/EUR rate.