Weekly Roundup: Australian dollar sheds gains as risk appetite fades 

Amy Richards October 24th 2023 - < 1 minute read

The Australian dollar faced notable volatility last week, initially climbing after the Reserve Bank of Australia’s (RBA) latest meeting minutes sounded more hawkish than expected. 

RBA Governor Michele Bullock added to AUD’s gains, saying that the bank remains open to raising interest rates if inflation proves stubborn. 

However, a weak jobs report and a sharp deterioration in market risk appetite saw the ‘Aussie’ relinquish its gains through the second part of the week. 

This week has so far seen more volatility, with AUD slipping to multi-week lows before rebounding as the market mood improved. 

Wednesday could bring further turbulence as markets respond to Australia’s latest inflation data. Although the annual inflation rate is set to cool, the quarterly and monthly figures are forecast to edge higher. 

Written by
Amy Richards

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