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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) experienced a rise in value recently, driven by bullish trade sentiment and improving risk appetite. Despite this positive momentum, caution arose from the Reserve Bank of Australia's (RBA) meeting minutes which hinted at an interest rate hike consideration, yet decided to maintain rates unchanged due to easing inflationary pressures. The AUD's upward trajectory may face constraints as data releases out of Australia are relatively scarce, potentially hindering a clear direction for the currency.

    Looking ahead, FX analysts anticipate that the risk-sensitive Australian Dollar could continue to strengthen throughout 2024 if there is a notable improvement in global risk appetite. Factors such as more accommodative monetary policies from central banks like the US Federal Reserve could boost global growth and consequently uplift the appeal of the AUD. However, concerns regarding deflation in the Chinese economy as well as fears of a recession and geopolitical tensions pose as potential headwinds that could limit the currency's upside movement. Despite these factors, most bank forecasts for 2024 predict a rise in the Australian Dollar, influenced by interest rates, commodity prices, and overall risk sentiment.

     
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