Loading...

Home pages - full list (A-Z)

Aussie dollar in the trenches after low inflation result

The RBA has resisted cutting interest rates lower than the record 1.5 per cent, however, this week's lower than expected inflation data could make a cut inevitable.

#News #AUD #USD
Email share     Facebook     LinkedIn    Twitter
 
AUD to USD - 1 Week chart to 24 Apr
AUD/USD - 1 Week chart to 24 Apr

The Aussie dollar was battling in the trenches on Anzac day (April 25) after a disappointing inflation figure the previous day saw the Australian dollar plunge nearly 1 per cent. The headline inflation was below estimates for a 0.2 per cent rise and unchanged from the previous quarter.

This has added strength to previous predictions that the Reserve Bank of Australia could cut rates at its next meeting in early May, in the middle of an election campaign.

The last time the Reserve Bank of Australia cut interest rates during an election campaign was back in 2013 when Labor’s Kevin Rudd was prime minister. Labor lost that election to the Liberal-National coalition.

These headwinds for the Aussie are continuing it’s slide towards a recent multi-week low below US 0.70 cents.

Image: Australian War Memorial (E00454)

 

Further Reading

 

Expensive Holidays for Brits After Pound Slips for Record 13th Day; What Next?

The British pound fell on Wednesday for a record thirteenth consecutive day against the euro. The currency is taking a Brexit-induced beating days before May’s half-term school break — a popular time in the UK for family holidays.

Last update: 22 May, 2019

Aussie Dollar Might Reach 10-Year Low of 65¢ After Decline Accelerates

The Australian dollar is now worth only 68.6¢ after another week of heavy losses, and now one senior analyst has predicted exchange rates in the “mid-60s” this year – rates not seen since 2009.

Posted: 18 May, 2019

Banks Fined €1.1 Billion for Currency Manipulation

Five banks have been fined a collective €1.07 billion by the European Commission for running a “cartel” that manipulated foreign exchange rates for financial gain.

Posted: 16 May, 2019

  

Posted to: News

 
   

Get a Better FX Deal when you Send and Spend Abroad.

 

Do NOT follow this link or you will be banned from the site!