This is the current AUD-USD 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-USD 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 USD, you should pay attention to both Australian Dollar and United States Dollar news and forecasts.
11-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 above $0.72 and roughly in line with December’s median exchange rate. The Aussie was similarly strong against other major currencies following its mini crash.
At current levels the Aussie “is very undervalued” versus the US dollar, a CIBC analyst said in late December; it was his “best bet” for 2019. The analyst’s view was based upon there being a positive resolution to the US-China trade spat. In the second half of 2019, the Aussie could be quoted as high as $0.78, the analyst said — 8 percent higher than rates at the time of writing.
For AUD/NZD, TD Securities expects near-term appreciation from NZ$1.05 to NZ$1.1.
Against other major currencies, the Aussie’s outlook is less optimistic. In recent months, investors have become increasingly certain that no increase to Australian interest rates will be seen until 2020. Inaction on interest rates will force capital away from Australia and towards countries where rates are higher or are expected to increase.
1-January-19: Against a basket of currencies, the US dollar struck an 18-month high in mid-December before giving up some ground in the final weeks of the year. When 2018 was done, the US Dollar Index had gained 6 percent, making the greenback one of 2018’s best performing currencies; however, it was still worth 7.5 percent less than its 2017 high.
The consensus is for dollar weakness in 2019. Big players have long been skeptical of the Fed’s projected path for interest rates and this skepticism appeared justified when, in December, the Fed lowered its expectations for 2019 hikes due to so-called “cross currents” (China, Brexit, trade wars etc.).
In the aftermath of the Fed’s December meeting, Scotiabank said the dollar was “poised to weaken.”
ING said the dollar “is now overvalued against a host of currencies, particularly those in emerging markets.”
JP Morgan had been dollar-bearish prior to the Fed meeting.
SEB suggested that the dollar might weaken against the pound to $1.37 per GBP, or worse upon very positive Brexit developments.
A CIBC analyst said the dollar would weaken against the Australian dollar from $0.70 per AUD to levels “well north of $0.75,” and perhaps as weak as $0.78.
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