You've landed on our UK website.
Click here to visit our USA website.

If you are having difficulty locating the information you require, we're here to help. Just get in touch and we will do our best to assist you.

Weekly roundup: Australian dollar defies risk-off dynamics as commodity prices soar

currency-newsWeekly roundup: Australian dollar defies risk-off dynamics as commodity prices soar
The Australian dollar maintained a positive trajectory through last week’s session, with the ‘Aussie’ defying its traditional identify as a risk-sensitive currency.

While a gloomy mood prevailed last week, a strong uptick in commodity prices translated into considerable demand for the Australian Dollar.

This uptick in AUD exchange rates was reinforced by some positive Australian data releases, with the country’s latest GDP, retail sales and PMI figures all printing above expectations.

The only slight hurdle for the ‘Aussie’ last week was the Reserve Bank of Australia’s (RBA) latest interest rate decision, in which the RBA’s cautious tone disappointed AUD investors.

Looking ahead, a key focus for AUD investors this week will be scheduled speeches from RBA Governor Philip Lowe, who could undermine the Australian dollar if he attempts to temper investors’ rate hike bets.

Otherwise, the ‘Aussie’ looks likely to extend its bullish trajectory so long as the commodity price rally continues.
 
Philip McHugh

Philip McHugh

Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure

Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)

Check our exchange rate

Thanks, we'll be in touch.

Check your inbox - one of our currency experts will be in touch to complete your quote.

If you want see our online exchange rates straight away, simply register online & log in.