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    How BestExchangeRates Saves Australians Money on FX

    For over a decade BestExchangeRates.com has been a trusted voice in foreign exchange in Australia and globally.

    BestExchangeRates compares exchange rates from popular banks and currency specialists to help you avoid hidden and excessive margins and fees when you send and spend abroad.

    We help our users save money by making these fees and exchange rates transparent and easier to compare. With our foreign transfer and currency exchange tools, you can quickly find the cheapest and most convenient way to convert your money.

     


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    More than 3 million satisfied visitors have saved over $200M on foreign exchange.



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    Australian dollar Market Update

    BestExchangeRates.com keeps you up-to-date on Australian dollar forecasts by collating the views of reliable FX forecasters and economists together with recent 90-day AUD price data. This analysis covers a wide range of factors including economic indicators, geopolitical events, central bank policies, and technical analysis to provide a thorough and current outlook on currency trends.

     

    The Australian Dollar (AUD) faced a volatile trading session recently, paring back some of its gains following mixed Australian PMI data. While the services sector exceeded expectations, factory activity unexpectedly contracted, leading to uncertainty in the market. FX analysts are closely monitoring central bank updates and economic data for potential shifts in the AUD's performance as geopolitical struggles and strong US data continue to impact its value.

    Analysts note that the AUD struggled to maintain its momentum from the robust end of 2023 into January, slipping below key levels against major currencies such as the USD. Despite initial support from market speculation that US interest rates may have peaked, concerns about deflation in the Chinese economy and rising geopolitical tensions could limit the Australian Dollar's upside potential. The interest rate differential between Australia and other countries, alongside commodity prices, will play crucial roles in shaping the AUD's trajectory throughout 2024.

     
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