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AUD to USD 2024 Forecasts

Analysis of recent Aussie → Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Australian dollar to US dollar performance and trends.

 

Forecasts for AUD to USD

 

The Australian Dollar (AUD) faced a challenging start to 2024 as it weakened against the US Dollar (USD). Mixed business confidence data from the National Australia Bank (NAB) and persistent inflation concerns dragged down the AUD, leading to a dip below the key level of US$0.65. Additionally, strong US economic data and geopolitical uncertainties pushed the USD higher, further impacting the AUD's performance. FX analysts suggest that without a clear direction, the AUD may struggle to extend gains beyond US$0.67 and could remain range-bound in the near term. The AUD's value is heavily influenced by factors such as domestic data updates, economic outlook, and global rate expectations, with particular emphasis on US monetary policies and inflation trends shaping its trajectory.

Conversely, the US Dollar (USD) has rallied recently following better-than-expected inflation figures and a robust job market report, signaling a stronger economy and delaying potential rate cuts. The unexpected acceleration in inflation to 3.2% and the impressive surge in January payrolls have shifted market expectations, reducing the likelihood of a rate cut in the near future. Looking ahead, key US economic data releases, such as CPI and Retail Sales figures, will be closely monitored to gauge the timing of any policy changes by the Federal Reserve. The upcoming Fed interest rate decision on March 20th will be a critical event to watch, with investors keen on Federal Reserve Chair Jerome Powell's statements and the potential impacts on the USD. The AUDUSD pair currently sits at 7-day lows near 0.6580, slightly below its 3-month average, showcasing the relatively stable trading range the pair has maintained in recent times amidst these market dynamics.

 
@bestfxrates : Facing headwinds, the #AUD fell below $0.65 due to mixed business confidence & inflation worries. Strong US data & global tensions support the rising #USD. FX analysts see the $AUDUSD range-bound near-term, eyeing Mar 20 Fed decision for direction. Presently near 0.6580, watch for volatility ahead. #Forex #AUDUpdate

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AUD to USD Market Data

Australian dollar (AUD) to US dollar (USD) market data - latest interbank exchange rate, trend, chart & historic rates.

 
1 AUD =
0.6519We compare provider deals to this wholesale mid-market rate. Read more
USD
-0.0%
📉1W
AUD to USD is at 7-day lows near 0.6559, just 0.9% below its 3-month average of 0.6616, having traded in a relatively stable 6.1% range from 0.6452 to 0.6847
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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.

 
DateAUD/USDChangePeriod
04 Mar 2024
0.6507
0.8% 2 Week
19 Dec 2023
0.6759
3% 3 Month
19 Mar 2023
0.6713
2.3% 1 Year
20 Mar 2019
0.7133
8% 5 Year
21 Mar 2014
0.9083
27.8% 10 Year
23 Mar 2004
0.7518
12.8% 20 Year
AUD/USD historic rates & change to 18-Mar-2024
 

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.

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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