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Weekly roundup: Australian dollar rallies amid improving risk appetite

currency-newsWeekly roundup: Australian dollar rallies amid improving risk appetite
The Australian dollar strengthened last week, as the risk-sensitive currency benefitted from a broadly upbeat market mood.

This upside in AUD exchange rates was also supported by some cautious optimism from the Reserve Bank of Australia (RBA) following its latest interest rate decision.

Also bolstering the appeal of the ‘Aussie’ was the publication of Australia’s latest trade figures as the country reported a record trade surplus in September.

So far this week, the Australian dollar has been propped up by the lifting of Sydney’s lockdown on Monday and hopes that Melbourne will be able to reopen in the coming weeks following a rapid vaccination rollout.

However the ‘Aussie’ could face some notable pressure later this week, with the publication of Australia’s latest jobs report, as economists forecast the lockdowns will have prompted domestic unemployment to rise for the first time in a year.
 
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)

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