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AUD to USD Forecast

Forecasts for the AUD/USD in 2020 are influenced by three factors; the coronavirus impact on economies, changes in the delta between interest rates in Australia and the US and also the trade war between China and the US.

Australian dollar to US dollar bank forecasts

The Australian dollar staged a rapid recovery in April but, according to TD Securities, AUD overpriced and see a drop back to 62cents in the short term.

The Aussie had been savaged in March sliding to US55 cents the lowest since 2003. Growing fears of the coronavirus outbreak moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.

The virus was a double blow to the Aussie after the earlier threat of proxy war between the US and Iran in Iraq had also pared back some of the gains the Aussie had made coming into the New Year.

The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead.

The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year. During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely.

National Australia Bank (NAB) are predicting the AUD/USD rate to rise to 71cents by the end of 2020.

You can read more about AUD cross-rate forecasts here AUD Trends and Forecasts for 2020.

AUD/EUR - 90 day trend
AUD/EUR at 0.6005 was trading 2.8% above AVG:0.5841 with LO:0.5302 and HI:0.6201 (90 days). There are no current rate alerts.

Forecasts and predictions for the AUD/USD exchange rate change all the time, affected by news events and relative sentiment towards the Australian and US economies. This continually updated article reviews AUD to USD bank forecasts and recent trends for both currencies.

What is a good AUD to USD exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

The following table looks at the change in the AUD to USD exchange rate to the present day for periods going back upto 10 years:

 
AUD/USDPeriod to 29-MayDateRate
2% ▲1 Week22 May 20200.6536
1.7% ▲30 Days29 Apr 20200.6554
2.4% ▲90 Days29 Feb 20200.6509
3.4% ▼1 Year30 May 20190.6905
12.7% ▼5 Years31 May 20150.7640
20.2% ▼10 Years01 Jun 20100.8351
AUD/USD 10 year rates & changes to 29-May-2020 (0.6667)
 
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.
 
 

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