Analysis of recent aussie→dollar forecasts. We collate forecasts from respected FX analysts together with the latest AUD to USD performance and trends.
Forecasts for AUD to USD
14-DAY▲HIGH1d
1-DAY▲+1.2%1d
According to recent exchange rate forecasts by major banks and analysts, the outlook for the AUD to USD exchange rate appears to be bearish. The Australian dollar has been downgraded by major banks due to the failure of expected improvements in Chinese demand for iron ore and a softer US dollar. National Australia Bank (NAB) projects a chance for the AUD to go as low as US62¢, while Commonwealth Bank of Australia (CBA) admits that it could potentially drop below US60¢.
The Australian dollar is heavily influenced by factors such as commodity prices, trade policies, and political developments, particularly since Australia is a major commodities exporter. The AUD is also considered a proxy for risk appetite in the markets, so its value tends to fluctuate based on traders' confidence in global economic growth prospects. Any increase in construction and iron ore demand, especially from China, would be positive for the Australian dollar. However, a weakening AUD is expected as investors shift their capital to higher-yielding currencies like the US dollar, which could further drive up the cost of imported goods.
In contrast, economists expect the strength of the US dollar to eventually reverse as the Federal Reserve's interest rate hikes cycle comes to an end in 2023. Recent AUD to USD price data shows the exchange rate trading at 14-day highs near 0.6475, indicating a 1.2% decline compared to its three-month average of 0.6551. The AUD to USD exchange rate has been fairly volatile, trading within an 8.4% range between 0.6353 and 0.6887.
Overall, based on recent analyst forecasts and market data, the AUD to USD exchange rate is expected to face headwinds in the short term due to downgraded forecasts, weak Chinese demand, and a potential shift in investor capital towards higher-yielding currencies. However, the US dollar's strength is also anticipated to reverse in the coming years as the Federal Reserve's rate hikes cycle concludes.
Compare & Save - Australian dollar to US dollar
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare
Australian dollar (AUD) to US dollar (USD) rates from different sources before making a conversion.
Use our
AUD to USD calculator to see how much you could save on your international money transfers.
makes it easy to compare the Total Cost you are being charged on aussie to dollar currency rates and the possible savings of using various providers.
@bestfxrates : FX analysts forecast a bearish outlook for AUD to USD, citing downgraded Australian dollar forecasts due to weak iron ore demand from China and potential shift of capital to higher yield currencies. AUD sizeable volatility observed, with swing of 8.4% recently. #CurrencyUpdate #AUDUSD
Multi-Vendor Quote
We can help you get an even better deal when sending a Large International Money Transfer.
Click below for the Request Quotes form and enter your transfer details (BER account required).
Will the Australian dollar rise against the US dollar?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add AUD/USD to your personalised BER Smart Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲DOWN▼HIGH▲LOW▼ alerts over a range of periods over the recent 90 days.
Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more