Why did the Australian dollar climb to a 4 month high?

The Australian dollar climbed to a four-month high of 66.1 US cents (due to a weaker US greenback on expectations the Federal Reserve is done with its rate-hiking cycle). Meanwhile, enjoy your evening!

What factors affect Australian dollar forecasts?

Keep these types of factors in mind when reviewing Australian dollar forecasts. Oil, gold, iron ore, uranium, nickel and coal are heavily influential on GDP, and the demand for these resources by China and India, in particular, may affect the AUD exchange rate and forecasts.

How much will the Australian dollar be worth in 2024?

That’s an increase from the bank’s forecasts last September, when Westpac was forecasting the Australian dollar to be worth 0.74 by June 2024 while NAB predicted 0.72 to the dollar for the same time period. CBA economists have predicted a much more tepid recovery over the next 12 months.

Will AUD come back in 2023?

As economists warn of a recession in advanced economies, it becomes less and less likely that the Aussie dollar will stage a spirted comeback in the last few months of 2023, especially in light of China’s slowing economy, which impacts demand for our iron ore. Why has AUD been dropping?