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Australian dollar AUD forecasts for 2020

Forecasts and predictions for the Australian dollar change all the time, affected by news events and relative sentiment towards the Australian economy. This continually updated article reviews AUD bank forecasts and popular cross-rate trends.


Australian dollar in the markets

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.

The following sections show a summary of bank forecasts for popular AUD cross rates that we have reviewed, you can view each forecast article for more details.

AUD/USD - 90 day trend
AUD/USD at 0.6668 was trading 4.4% above AVG:0.639 with LO:0.5737 and HI:0.6723 (90 days). ALERTS: AUD/USD was UP 1.9% this 4-DAY period and also rose to 60-DAY HIGHS.

AUD/GBP - 90 day trend
AUD/GBP at 0.54 was trading 5.2% above AVG:0.5135 with LO:0.4886 and HI:0.5402 (90 days). ALERT: AUD/GBP rose to 90-DAY HIGHS.

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.

AUD/JPY - 90 day trend
AUD/JPY at 71.87 was trading 4.2% above AVG:68.98 with LO:62.5 and HI:74.28 (90 days). ALERTS: AUD/JPY was UP 1.9% this 4-DAY period and also rose to 60-DAY HIGHS.

AUD/INR - 90 day trend
AUD/INR at 50.36 was trading 5.2% above AVG:47.87 with LO:43.12 and HI:50.36 (90 days). ALERT: AUD/INR rose to 90-DAY HIGHS.

AUD Info and Influences

The Australian dollar is the fifth most traded currency in the world and is popular with currency traders, because of the high interest rates in Australia, the freedom of the foreign exchange market from government intervention, the stability of Australia's economy and political system, and the view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies, especially because of its greater exposure to Asian economies and the commodities cycle.

The currency is commonly referred to by foreign-exchange traders as the "Aussie dollar".

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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