This is the current AUD-DKK mid-market exchange rate. The Total Cost of buying foreign currency in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market AUD-DKK exchange rate.
Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second currency.
So it follows that if you are determining the best time to transact, in this case the AUD vs DKK, you should pay attention to both Australian Dollar and Danish Krone news and forecasts.
17-January-19: The Australian dollar recovered strongly following a "flash crash" in early January which saw it briefly trade at a 10-year low of 67.4 US cents.
By the time of this report, AUD/USD was back at 72 cents and roughly in line with December’s median exchange rate. The Aussie was similarly strong against other major currencies following its mini crash.
Several months ago, most analysts agreed that the Aussie was heading higher in 2019, but things have changed. In recent months, investors have become increasingly certain that no increase to Australian interest rates will be seen until 2020; there is, in fact, now a 25 percent chance of an RBA cut, per derivatives pricing. Inaction on interest rates will force capital away from Australia and towards countries where rates are higher or are expected to increase.
One senior researcher at BNP Paribas said in January that the Australian dollar would “get absolutely crucified and could suffer a 25-30 percent [long-term] fall.”
In opposition to that view, at least relative to the US dollar, was a CIBC analyst, who said that at current levels the Aussie was “very undervalued” and was his “best bet” for 2019. The analyst’s view was based upon there being a positive resolution to the US-China trade spat. The Aussie could be worth as much as 78 US cents in the second half of 2019, the analyst said.
11-January-19: 2018 was a mixed year for the Danish krone. A 4.5 percent loss versus the US dollar was offset by a near-6 percent gain versus the Australian dollar and a slight gain against the pound.
In 2019, risks to the krone, and the euro to which it is pegged, will include Brexit, slower economic growth and the Italian budget. The main supporting factor is the end of economic stimulus in the eurozone, which may or may not be followed by an ECB rate hike later in the year.
Forecasts: For the month of January, SEB recommend betting on euro and krone depreciation versus JPY, SEK and NOK on grounds of seasonality.
In the months ahead, GBP/DKK should rise (the krone should weaken) from levels near 8.36 (as of January-11) according to Bank of America, since “all pathways are leading to a soft Brexit” — something that would be a shot in the arm to sterling.
For USD/DKK, both Danske Bank and Bank of America retain end-of-year forecasts of 6.0 (implied from EUR/USD forecasts), from rates near 6.5 at the time of writing. 6.0 represents the equilibrium exchange rate for this pair, bank researchers said.
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