Australian Dollar News, Guides, Forecasts & Provider Reviews. Stay on top of AUD related information to help ensure you get the best possible exchange rates deals. This allows you to take advantage of any market moves plus the low margins from our online currency and foreign payment partners to ensure you get the best possible exchange rates deals.
Forecasts and predictions for the AUD/SGD exchange rate change all the time, affected by news events and relative sentiment towards the Australian and Singapore economies. This continually updated article has any recent AUD to SGD bank forecasts, recent trends and historic rates for both currencies.
The strong US stock markets and higher yields from treasury bonds may be the catalyst for strong swings for currencies versus the USD.
In 2020 currency forecasts are primarily influenced by the perceived relative coronavirus impact on economies and the success of government's response to the pandemic.
AUD/HKD has risen 10 percent since the start of 2020 and nearly 28 percent since the peak of the markets pandemic shock in March.
The effects of the coronavirus pandemic plus success or failure of post Brexit negotiations will dominate GBP to AUD trends and forecasts in 2020.
AUD/NZD forecasts are influenced by three factors; the relative coronavirus impact on both economies, changes in the delta between interest rates in Australia and New Zealand and also the trade war between China and the US.
Moving past Brexit, the currency markets have been pushing down the Euro out of fear that poor economic results from the Eurozone will into 2021.
The FX market's bellwether for risk sentiment, AUD/JPY, reached over ¥80 at the end of 2020.
AUD/USD forecasts in early 2021 are mainly influenced by risk-on or risk-off sentiment dependent on positive or negative news of COVID-19 vaccine results and US treasury yields.
Forecasts for the Australian dollar change all the time, affected by news events and relative sentiment towards the Australian economy. But in 2020, AUD exchange rates have been driven almost entirely by the effects of the Coronavirus pandemic rather than any fundamentals of the Australian economy.
New Year brings a weak US dollar and chaos in Washington DC with Capitol Hill reduced to a riot zone and President Trump impeached for a second time.
While a decrease in AUD/INR was forecast in 2020, the opposite occurred and that's been great news for Indian expat workers.
The recent period has been volatile for currency markets tossed about by US election uncertainty, stimulus spending doubts and both good and bad news from the COVID-19 frontline.
The Euro is slumping as France and Germany resume national lockdowns to combat surging second-wave Covid cases.
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Currency rates were extremely volatile last week as the coronavirus situation worsened day by day with various countries implementing ever-tougher measures to stop the spread of the disease.
This week the US Dollar was touching three-year highs when valued against a basket of major currencies. The greenback's traditional role as one of the safe-haven currencies is helped by a domestic economy that is largely immune to the threats of the coronavirus.
The strong start to the year for "risk-on" currencies is already a distant memory.
The threat of a proxy war between the US and Iran in Iraq has pared back some of the recent gains of "risk-on" currencies.
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Both the Australian dollar and British pound sterling have had a hard time of late caught between the rock of the China/US trade war and the Brexit hard place.
The RBA has cut Australian interest rates to a record low of 1 percent in an effort to boost inflation. The Australian dollar is slightly stronger following the widely expected decision but is expected to lose 5–7 percent of its value before year-end.
The British pound was the worst-performing major currency in the April-June period and remains “impossible to forecast” amid a Tory leadership battle that might force "no deal” or a general election.
With AUD-THB at a 10-year low, Australians travelling this year to Thailand's wildly popular resorts are facing holiday costs 50 percent higher than those paid in 2012. With exchange rates as they are, those in Oz are choosing better-value destinations.
Lifted by oil, economic data and the Fed, the Canadian dollar has soared against the US dollar to a 16-week high and has reached even more impressive milestones against the pound, euro and Australian dollar.
The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.
The UK economy is shrinking, as is the pound, which is buying less than 1.12 euros for the first time since mid-January. Investors are becoming increasingly unsettled over Brexit, particularly with Boris Johnson a hot favourite to become the UK's next prime minister.
Investors dumped the US dollar on Friday after US jobs data came in well short of estimates and cemented expectations for lower US interest rates. In the coming months, the greenback might maintain its value based on safe haven inflows and looser monetary policies in other parts of the world.
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The Australian dollar remains stable in the high US$0.69s following the RBA’s decision on Tuesday to cut Australian interest rates to a record low of 1.25 percent.
A “no deal” Brexit remains highly unlikely according to experts at Goldman Sachs and ING, and as such the pound is grossly undervalued and could rise strongly from current levels.
The currencies of Malaysia and Singapore were trading at 6-month lows against the dollar on Wednesday following news that the US had added the Southeast Asian nations to its watchlist of suspected currency manipulators.
The struggling Australian dollar will lose a further 5 percent of its value against the US dollar and pound before the year is out, and 3 percent against the euro and New Zealand dollar, Westpac predicted on Friday.
The British pound fell on Wednesday towards a 3-month low against the euro and US dollar as attention turned back to Brexit and after lower-than-expected wage growth lessened prospects for a Bank of England rate hike.
The US-China trade war is hotting up and that’s bad news for the Australian dollar, which slipped on Monday to a 4-month low against the dollar, euro and yen.
The Canadian dollar might be worth considerably more towards the end of this year based on research by Scotiabank analysts who describe the currency as being “egregiously” undervalued.
The RBA left interest rates on hold at 1.5 percent on Tuesday, spurring big gains for the Australian dollar, which had slipped beforehand to long-term lows against several major currencies. Roughly half of economists had expected rates to be cut by 25 basis points.
Seasonal weakness, election uncertainty, strong technical support and oil market complications should be more than sufficient to spur an AUD/INR rally into mid-year.
Constructive Brexit talks between UK politicians have imparted a sense of renewed optimism that has lifted the British pound to a 2-week high against the dollar and to a 3-week high against the euro.
Cryptocurrencies and the blockchain technologies that support them are at the forefront of remittance-industry innovations, but these are under attack in India, where a complete crypto ban will be proposed in May.
A turbocharged US dollar is likely to be “stronger for longer” after reaching long-term highs against a host of major currencies, including the euro, Swiss franc and Swedish krona.
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.
The Swiss franc continued its shocking run of form on Tuesday, slipping against the euro to its weakest level in 6 months.
HSBC has reaffirmed its US66¢ year-end forecast for the Australian dollar, thereby signalling an upcoming 8 percent slide in the world’s fifth most traded currency.
What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.
The Australian dollar is forecast to climb to US$0.74 in the coming months, supported by a commodities boom that has seen the price of Australia’s largest export, iron ore, climb to a 5-year high.
With the chance of a 2019 Brexit now reduced to 50 percent, the pound’s value is likely to remain capped for the time being, most likely near US$1.34, experts say. On the downside, US$1.24 is likely should the latest Article 50 extension be used to hold a UK general election.
The euro hasn’t traded as low as US$1.08 since the early portion of 2017, but that’s where we’re heading within the next 3 months, analysts at ANZ believe.
The Australian dollar-New Zealand dollar exchange rate rose on Friday to a 10-week high as traders continue to make bets on monetary policy divergence between the RBA and RBNZ. Even higher rates are expected by teams at TD Securities and Societe Generale.
Research has highlighted the popularity of bitcoin for large payments, including those across borders. By transaction volume, bitcoin has nearly caught up with Mastercard and may in future overtake the market leader, Visa. In the markets, bitcoin’s sudden surge earlier this week is yet to be explained.
Goldman Sachs is backing British MPs to soon find a way through the current political deadlock, after which a “big finish” is expected by the British pound. Meanwhile, pessimism surrounds the Australian and New Zealand dollars, both of which have fallen to multi-week lows.
For much of this year, banks have been betting on further Australian dollar deprecation, but after last week’s RBNZ shocker, they have also given a thumbs down to the New Zealand dollar.
The New Zealand dollar plummeted on Wednesday after the RBNZ said its next move on interest rates was likely to be a cut.
Developments this week make a “benign Brexit outcome” the most probable and offer reason enough to be favouring British pound appreciation for the foreseeable future, analysts at Bank of America Merrill Lynch have said.
Given what should have been obvious advantages, the Australian dollar’s inability to gain against the US dollar last week is an ominous sign that suggests further Aussie depreciation in the near term.
The US dollar crumbled on Wednesday after the Federal Reserve signaled it would keep interest rates unchanged throughout 2019, thereby backtracking on the two rate hikes it predicted in December.
Amid declining interest, the Chicago Board Options Exchange, or CBOE, has announced it will no longer offer bitcoin futures contracts once current contracts expire in June.
Prospects for the Canadian dollar have turned “considerably to the downside” and the currency is likely to lose 5 percent of its value this year, TD Securities has said.
A slight advance in AUD/USD this week to $0.705 is hardly cause for celebration; however, the stability this represents following 3 weeks of losses would normally signify reduced currency pessimism—in this case, it doesn’t even do that.
The pound fell rapidly away from long-term highs on Tuesday morning after Britain’s Attorney General said that the “legally binding” assurances secured on Monday night by Theresa May merely “reduced the risk” of the UK being trapped in a permanent backstop.
US jobs growth of only 20,000 in February, versus expected growth of 180,000, has allowed rest-of-the-world currencies to claw back ground against the US dollar which, until Friday, had been on a stellar run.
After a friendless Friday, the Canadian dollar has continued to lose value at the start of the new week. Now worth C$1.332 per USD, the loonie is at a 12-day low, but it has far further to fall if CIBC’s fair value estimation of C$1.4 is anything to go by.
Investors should expect the Australian dollar to face “global scrutiny” and “material downward pressure” should conditions in Australia’s housing market continue to deteriorate, JP Morgan’s head of FX has said.
The British pound has hit a 21-month high against the euro following increased speculation of a delayed Brexit and after Britain’s opposition party leader said he would now back a second referendum on EU membership.
The Australian and New Zealand dollar currencies have been the best performing majors in recent days. Each has gained nine-tenths of a cent against the US dollar since Thursday, with appreciation fuelled by the market’s upbeat mood towards a potential US-China trade agreement.
The British pound was in high demand on Tuesday ahead of an important meeting between British PM Theresa May and EU officials, at which investors are hoping for a Brexit breakthrough.
Those intending to pick up euros this week should consider heeding warnings offered by MUFG. The bank expects the euro to move towards cheaper levels in the coming days and it would therefore be unwise to pay rates offered on Monday.
The New Zealand dollar leapt on Wednesday in response to the latest remarks from the RBNZ, which said that interest rates in New Zealand would not be lowered this year or next, wrong-footing investors who had adjusted FX positions to account for lower rates.
Against a basket of currencies, the US dollar struck an 8-week high on Tuesday after US lawmakers reached an agreement on border security funding and as hopes build for a breakthrough in US-China trade talks.
Cryptocurrencies exploded on Friday for reasons not fully understood by analysts. Litecoin was among the day’s stars, gaining 30 percent. Brokers, though, remain skeptical about the rally’s sustainability.
Further losses on Friday cemented the Australian dollar’s status as the week’s worst performing major currency. Depreciation has been driven by Australia's central bank, which has slashed forecasts for 2019/20 economic growth and signaled it could lower interest rates.
The pound rejected sub-US$1.29 levels on Thursday even after the Bank of England slashed growth forecasts, indicating underlying strength. Analysts say that the pound will rally to buy US$1.40 should Theresa May secure the EU concessions needed to pass her Brexit withdrawal agreement.
With a number of Australian data releases, RBA statements and forecasts on the economic calendar, the Australian dollar is likely to be in the headlines this week, for good or bad.
The pound is back trading in the US$1.30s after British MPs rejected a proposal to delay the UK’s exit from the European Union, which analysts say increases the likelihood of "no deal."
The Australian dollar was little changed on Tuesday despite what should be AUD-supportive remarks from an RBA board member. The Aussie remains subdued ahead of important inflation data, a Fed meeting and a second round of trade talks between the US and China.
The US dollar recorded its largest one-day fall in nearly 3 months on Friday as the attention of traders turned back towards an increasingly cautious Federal Reserve.
Within recent days, a host of experts have cut forecasts for the Australian dollar, indicating a new wave of pessimism on what is already the past year's worst-performing major currency.
The Australian dollar could lose as much as 30 percent of its value if a bold prediction from a BNP Paribas researcher is anything to go by. Prominent risks to the Aussie include a Chinese economic slowdown and a deterioration in Australia’s housing market.
Despite a crushing defeat for Prime Minister May’s Brexit deal on Tuesday night and a motion of no confidence tabled against the British government—which the government survived on Wednesday—the pound is close to multi-week highs. In emerging markets, the Thai baht remains an outperformer.
Ahead of Tuesday’s “meaningful vote” on the Brexit withdrawal agreement, the British pound has strengthened to a 7-week high against the dollar—evidence that investors are increasingly optimistic that a soft Brexit can be achieved.
Late last week, EUR/USD failed to hold gains above $1.15, disappointing traders who had hoped for a big breakout. For 2019, experts still believe in higher EUR/USD rates, although the euro will likely lose value relative to the pound on any soft-Brexit options. In the short term, too, it may be in trouble.
The Australian dollar has rallied strongly following last Thursday’s “flash crash” and, like the Canadian dollar, is expected to outperform its peers in the near term. Investors remain willing to take on risk but the US dollar remains soft. In Asia, the yuan is expected to weaken beyond ¥7 within the next 6 months.
The Singapore dollar weakened on Tuesday but is forecast to be the best performing Asian currency in 2019. In Europe, political uncertainties have driven funds into the Swiss franc, elevating its price. The SNB has re-affirmed its commitment to market interventions, which means EUR/CHF at Fr1.1 will be a difficult nut to crack.
For the US dollar, analysts are predicting significant weakness in 2019. In contrast, the Canadian dollar will likely strengthen amid an energy market rebound, but under the same conditions the Indian rupee will slide to a record low. Cryptocurrencies, meanwhile, are trading higher but fail to inspire confidence.
The Australian dollar is back trading in the high $0.69s following a wild and rocky Wednesday night. In just a few minutes, a market “flash crash”—blamed on a surprise earnings warning from Apple and thin liquidity—had taken the Aussie down 3.2 percent to a 10-year low of $0.675.
The yen has entered the New Year in much the same form it exited 2018. It climbed on Wednesday to fresh long-term terms highs against many major currencies and is predicted to strengthen further in both the short and long term.
2019 will be a good one for the British pound, thinks a foreign exchange analyst at SEB. Recent depreciation is overdone, the analyst says, and will be corrected once markets begin to price in the improbability of a no-deal Brexit. Investors should expect a GBP/EUR rally into the mid-€1.17s or higher.
There’s been no letup over Christmas for the Australian dollar, which continues to threaten the 70-US cents handle. The Aussie may appreciate as high as 78 cents in 2019, an expert has said. Meanwhile, safety-driven inflows have forced the franc and yen much higher, but oil prices continue to weigh heavily on the Canadian dollar.
2018 was the year that the bitcoin dream came crashing down. The bubble that many had suspected was building in 2017 was realised and the most well-known of digital currencies lost 80 percent of its value. For 2019, prices might sink as low as $1,500, experts say, but might rally in the second half of the year.
Against the US dollar, the Australian dollar fell on Friday to within 0.1 percent of October’s low, a break of which will take the currency to its lowest level in more than 2 ½ years. Investors dumped the risk-sensitive Aussie after heavy selling in equities markets and as a US government shutdown became increasingly likely.
The US dollar was sold heavily on Thursday in the aftermath of midweek announcements by the Federal Reserve. Though the Fed raised US interest rates by 25 basis points, as widely expected, it lowered its expectations for rate hikes in 2019, to the disappointment of dollar investors.
The Australian dollar continues to stagnate in the aftermath of Monday's RBA meeting minutes and ahead of this week’s meeting of the US Federal Reserve. Barring surprises, the Aussie is likely to remain well supported against the British pound, Canadian dollar and Japanese yen.
The Australian dollar has offered broad stability in recent days—a welcome change from last week’s sharp decline. The Aussie will likely trade higher over the coming months, Goldman Sachs has said, although anything goes for AUD/GBP on Wednesday as a vote of no confidence in the British Prime Minister takes place.
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The Canadian dollar made widespread gains on Friday after Canada announced its largest increase in employment in 6 years. Meanwhile, the Australian dollar fell for a fifth day and cryptocurrencies continue downwards. In the absence of more robust earnings growth, traders shouldn’t expect much from the US dollar, CIBC has said.
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The Australian and New Zealand dollar currencies gapped higher on Monday after the US and China agreed this weekend to suspend new tariffs on goods worth several hundred billion dollars. Meanwhile, bitcoin sank back below $4,000.
In a speech on Wednesday, Fed Chairman Jerome Powell signalled that US interest rates are close to “neutral.” As a result, the US dollar suffered one of its sharpest intraday falls this year.
In a note to clients this week, CIBC predicted a rise in the Australian dollar to $0.76 by mid-2019. The forecast represents appreciation of 5 percent from Monday afternoon’s quote of $0.724 and will be driven by higher Australian wages, the bank says.
Weakness in the Australian dollar since Friday is to be short-lived, experts at National Australia Bank have said. A rally in AUD/USD to 0.74 is on the cards, as are politically-driven moves in EUR/GBP and EUR/CHF towards 0.92 and 1.2.
The Australian dollar is benefitting from disarray in Europe and upbeat employment data. The day’s biggest news comes from Europe, though, where the British pound suffered one of its largest intraday declines in recent years following the resignation of the UK’s chief Brexit negotiator.
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The Australian and New Zealand dollar currencies were way out in front this week on the list of top performing FX majors. The Canadian dollar, meanwhile, continues to suffer from what is now a technical bear market in crude oil. Sterling is again under Brexit-related pressure amid reports of potential UK ministerial resignations.
FX markets lacked volatility on Tuesday ahead of US midterm elections, the results of which will begin to trickle in after 7pm EST. November typically represents the best month of the year for USD and recent losses arguably offer a grab-it-now opportunity to get the currency at improved exchange rates.
Just what the doctor ordered! A 1.3 cent rally on Thursday marked the Australian dollar’s best day since early 2017. A further half-cent gained on Friday morning, prior to the day’s big event, US non-farm payrolls, took AUD/USD to a 5-week high of $0.726. Only a week ago, the struggling Aussie was quoted at a 2-½-year […]
The mood was buoyant in foreign exchange markets on Thursday following news that the UK has achieved a deal with the EU on financial services that would give London’s banks continued access to European markets post-Brexit. Together with the pound, currencies that benefit from the switch to “risk on,” like the Australian dollar and New […]
Developments outside the US allowed for the dollar to appreciate against a basket of currencies to a sixteen-month high on Wednesday. The ICE-maintained US dollar Index, which provides a weighted-mean measure of the greenback’s value against the euro, British pound, Swiss franc, Canadian dollar, Japanese yen and Swedish krona, traded above 97.0 for the second […]
The Australian dollar is saying “no” to the 70 US cents level as it rallies on Thursday along with Chinese stock markets. The Aussie also continues to appreciate from long-term lows against the pound and euro, and is undervalued against the New Zealand dollar, argues Westpac.
The Australian dollar will have to overcome seasonal weakness to rally from here but a mere 1 percent rise might be all that’s needed to begin a broader recovery, analysts have said. For the US dollar, appreciation is expected heading into year-end but the trend towards de-dollarization continues, this time in Venezuela.
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This week’s flight from risky assets, evident from massive losses in equities, has yet to affect the risk-sensitive Australian dollar. The yen is firmer though, bitcoin has finally broken lower and options traders are paying up for protection against future sterling volatility.
Friday’s announcement by the BLS that unemployment in the US has fallen to its lowest level in half a century further firmed expectations for US interest rates and was sufficient to drive the US dollar to fresh long-term highs against currencies throughout the Asia-Pacific region.
In foreign exchange markets, the Australian and New Zealand dollar currencies are highly correlated. Given recent sentiment, it was no surprise, then, to see both make fresh multi-year lows on Thursday. Market commentators see little changing for the Antipodes in the near term.
UBS has added themselves to a growing list of experts predicting a broad recovery in the Australian dollar. Against the US dollar, the bank is offering a consensus-busting Aussie forecast of $0.82 for 2019 year-end, indicating a 14 percent rise from current levels.
The US dollar was the best of the majors on Thursday—it broke to a nine-month high versus the yen and forced a retreat in the Australian dollar back to the low $0.72s. In Hong Kong, commercial lending rates have been raised for the first time in twelve years, indicating the beginning of the end for cheap money in the region.
The Federal Reserve raised the upper level of US interest rates to 2.25 percent on Wednesday, as widely expected, while also dropping longstanding terminology from its statement relating to the “accommodative” level of monetary policy. The dollar was volatile as a result.
A gain last week of 1.9 percent marked the Australian dollar’s best weekly performance versus the US dollar since December. The Aussie rebound continued with a touch of the $0.73 handle on Friday. Australia’s currency had been worth less than $0.71 just 10 days earlier. It settled for the week at $0.7285. Further to gains […]
As investors begin playing the long game, they are reconsidering their views on the Australian dollar. An inevitable tightening of Australian monetary policy, most likely next year, will eliminate one of the chief reasons for recent AUD pessimism. What was once a currency worth avoiding might now offer a heavily-discounted bargain.
There was widespread relief among emerging market investors on Thursday after the Turkish central bank finally raised interest rates to protect the embattled lira. Elsewhere, the dollar lost value for a fourth consecutive day and ethereum stabilized after a ten-day fall.
A better-than-expected print for Australian GDP growth was unable to prevent further Australian dollar weakness on Wednesday. After a short-lived jump on the 0.9 percent second-quarter reading (0.7 percent growth expected), the Aussie fell early in the European session to a two-year low of 71.45 US cents. In the hours following GDP, it also lost […]
The Australian dollar really doesn’t have much going for it. A 2.2 percent loss between Tuesday and Friday had the Aussie settling for the week at 71.9 US cents, which marked its lowest weekly close since December 2016, and it isn’t doing much better versus the euro, Canadian dollar, Swiss franc and Japanese yen. Perhaps […]
The Australian dollar had a shocker on Thursday on the back of domestic political uncertainty. Per reports, current Australian Prime Minister Malcolm Turnbull is likely to be replaced by Peter Dutton before the week is out.
The US dollar continues to fall from long-term highs. Tuesday marked the fourth consecutive trading day of declines for the Dollar Index, which traded at a fourteen-month high of 97.0 last week. Approaching the end of Tuesday’s European session, the index had slumped into the 95.40s. The dollar was affected for the worse on Monday […]
The Australian dollar was the best performing major during Friday’s European session. The “Aussie” rallied by as much as 0.8 percent to rates above 74 US cents after robust Australian economic data.
The US dollar made inroads against most of the world’s currencies on Thursday as trade fears forced investors into safer assets.
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Tuesday’s second-quarter inflation data will set the tone for the New Zealand dollar for the rest of the summer, say banks. With inflation risks skewed to the downside, a lower kiwi is more likely than not.
Traders offloaded Chinese yuan and Australian dollars on Wednesday after the US government said it would introduce 10 percent tariffs on a further $200 billion worth of Chinese goods.
The Canadian dollar will weaken to 1.35 to the US dollar should the Bank of Canada surprise investors on Wednesday by keeping interest rates on hold, says the latest research report from BNP Paribas.
The Australian dollar may be in line for a double-digit fall into the “mid-60s” versus the US dollar before the summer of next year, says a senior money manager at Pendal Group.
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The New Zealand dollar will be worth only 64 US cents within the next twelve months, say economists at Westpac.
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The big news for investors on Thursday was Washington’s confirmation that steel and aluminium products reaching the US from Europe, Canada and Mexico – all important allies – would be subject to trade tariffs. Foreign leaders raged against the decision and announced plans for immediate retaliation. On Tuesday, Washington had already announced tariffs on $50 […]
The Australian dollar has been among the hardest hit of major currencies in recent months. Heavy losses since January have been widely reported in the financial press, with most commentaries focusing on the Aussie’s 8.6 percent decline against the
The Australian dollar, together with other risk currencies, will likely start next week under pressure following the launch on Saturday morning of air strikes on Syrian weapons research and storage targets by the US, UK and France. The strikes come after a chemical weapons attack in Douma one week ago, which killed an estimated 75 […]
Fuelled by an improvement in risk appetite and a pick-up in the number of foreign visitors to Thailand, the baht climbed on Wednesday to a four-year high of 31.1 per dollar. In doing so, the baht solidified its position as Asia’s best performing currency of the year. Volatility in the baht had dried up in recent […]
The Australian dollar made sweeping gains last week as investors’ preference for higher-yielding assets trumped a sequence of poor Australian economic data. The currency’s broad climb marked the end of a difficult period that had begun in late January and came as a new poll suggested a lack of FX volatility for the remainder of […]
The Canadian dollar is on course for its worst weekly performance in more than a year as traders reassess their exposure to the currency in response to new US trade tariffs, slower economic growth and a softer oil price. At the end of the Asian business week and with much of Friday’s European session already […]
Among the world’s ten most actively traded currencies, it was the Chinese yuan that was leading the pack approaching the end of the Asian business week. Last week: majors all down Aussie dollar (AUD) was down last week, retreating from US0.80 cents, on Australia’s disappointing rise in private sector wages, their massive contraction […]
Last week’s much-improved US inflation data had the desired effect on US rate expectations which have adjusted to indicate a 100% probability of the Federal Reserve raising interest rates in March. Ordinarily, such a revision to expectations would fuel a transfer of hot money into US dollars, yet dollar traders continue to chart their own […]
This week’s much-improved US inflation data has had the desired effect on US rate expectations, with the yield on two-year Treasuries climbing again on Friday, as it did on Thursday, to levels above 2.2%. Meanwhile, prices in derivatives markets have adjusted to indicate a 100% probability of the Federal Reserve raising interest rates in March. […]
During a week which saw global equity markets suffer their largest losses in two years and broader market volatility pick up, foreign exchange markets were surprisingly calm. A flight to safety benefitted the US dollar, which finished higher against a basket of currencies for the second consecutive week; and the Japanese yen, which at one […]
Bitcoin’s tumble continued on Friday, with the cryptocurrency falling at one stage by fifteen percent to just $7,960 – sixty percent lower than December’s high just shy of $20,000 ($19,891). An afternoon rebound saw bitcoin end the day close to $8,600 but that did little to improve sentiment in the face of scrutiny from regulators […]
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The Canadian dollar climbed on Friday to its highest level in ten weeks on the back of an impressive end-of-year rally in the prices of oil, copper and gold. Other commodities-sensitive currencies like the Australian dollar, South African rand and Malaysian ringgit, among others, were also well supported. As WTI crude oil reached a two-and-a-half-year […]
The Australian dollar is set for a double-digit (11%) fall to just 68 US cents in the coming eighteen months, according to the revised forecast of Australia’s fourth largest bank, Westpac. In a note to clients, the team at Westpac said this week that it sees a fall from Friday’s AUD/USD 3 Month Chart Regular […]
Ahead of major announcements in the coming days, investors were in surprisingly good spirits on Wednesday, indicated by a stronger New Zealand dollar, won, rupee and a faltering yen. Weakness in Asia-Pac FX would have been forgiven ahead of Thursday’s announcements by the FOMC (Wednesday in the US and Europe), Bank of England and Donald […]
Currencies in the Asia-Pacific region made sweeping gains against the euro on Thursday night after the European Central Bank announced a cautious approach to the removal of monetary stimulus. Further to a zero percent interest rate, the ECB is currently buying €60 billion worth of assets (bonds) each month, with the goal of keeping eurozone […]
The hearts of those holding Philippine pesos were broken on Tuesday after the currency slipped to its weakest level against the dollar in more than eleven years. The peso weakened by 33 centavos to 51.85 per dollar. The peso wasn’t alone in falling against the dollar; most Asia-Pac currencies did the same as the greenback […]
Holders of New Zealand dollars are still suffering on Friday as the currency continues to fall following last night’s news that New Zealand will be led by a Labour government, with Jacinda Ardern at the helm. In the twenty-four-hour period leading up to 4pm in Wellington, the New Zealand dollar weakened nearly 2.25% against the […]
For Asia-Pac currencies, Thursday’s session was dominated by political nervousness in New Zealand and a busy economic calendar. In terms of data, Japan kicked things off a little before 9am in Tokyo with the country’s latest trade figures. Export growth of 14.1% in the year to September matched market expectations, more or less. Exports have […]
Australian Treasurer Scott Morrison expressed no discomfort with the current valuation of the Australian dollar this weekend. In an interview with Bloomberg TV, Morrison said that Australian exporters had adapted to a currency that was now 9.3% higher against the US dollar ($0.7873) and nearly 4% higher against the Chinese yuan (¥ 5.1954) than it […]
The week ahead should be an interesting one for Asian financial markets, with the highlights being China’s 19th National Congress, the latest numbers for Chinese economic growth, the Bank of Korea’s monetary policy meeting and Japanese trade data. Further to that, and to the events outlined below, investors should look with care to Federal Reserve […]
With the unsurprising exception of the Philippine peso – Asia’s worst performing currency of the year – Asia-Pac’s most actively traded currencies made gains against the US dollar on Tuesday. Although limited, gains were somewhat easy to come by as risk appetite returned after the President of Catalonia, Carles Puigdemont, held off on formally declaring […]
Wow. What a confusing jobs report. The most important economic data release of the month caused flip-flopping in the US dollar on Friday as a decline in US jobs was offset by solid readings for earnings growth and unemployment. The US Bureau of Labor Statistics said on Friday that non-farm payrolls fell by 33,000 in […]
It’s been a tough twenty-four hours for the Australian dollar. The “Aussie” was hammered after Thursday’s woeful retail sales data, which showed that sales declined in August by 0.6% – the biggest fall in four years. To add insult to injury, previously released data for July was revised down to -0.2%, from 0.0%. AUD/USD has […]
Saxo Bank’s head of FX strategy, John Hardy, has added his name to a list of prominent analysts predicting a difficult fourth quarter for the US dollar. On September 27th, ABN Amro expressed its “strong conviction” on future dollar weakness and Nomura reaffirmed its “structural bearish view,” and now, one week later, we have Hardy, […]
At 2:30pm local time (GMT+11) on Tuesday, the Reserve Bank of Australia will announce its latest decision on interest rates. No change is expected to the RBA’s cash rate which has been held at a record low of 1.5% since August 2016, and therefore, once again, the spotlight will be shone on the RBA’s accompanying […]
Currencies in the Asia-Pacific region fell against the US dollar on Thursday morning after the Federal Reserve signaled that it would raise interest rates again this year and would begin shrinking its balance sheet in October. The Fed funds rate was left unchanged at its current range of 1–1.25%. Although the majority of economists had […]
New forecasts from Dutch bank ABN Amro see continued weakness in the US dollar heading into and throughout 2018. “We have a strong conviction that the US dollar has entered a multi-year downtrend,” said ABN’s Georgette Boele. The dollar will be hardest hit against “growth sensitive and commodity currencies,” according to the bank, which include […]
The British pound rose on Friday to its highest level against the dollar since the UK’s historic ‘Brexit’ vote in June of last year. By lunchtime in London, the pound was buying $1.3616, capping a brilliant fortnight in which it has risen from rates close to $1.29. On minor profit taking, the currency settled back […]
The New Zealand dollar sank on Monday morning against the other FX majors amid uncertainty over New Zealand’s future government and on the back of a continuation in weak sales data. Advanced voting in New Zealand’s general election begins on Monday, ahead of election day on September 23rd, and while polls indicate no clear favourite, […]
To the surprise of many, the Bank of Canada raised interest rates on Wednesday to 1.0%, from 0.75%, which sent currencies in the Asia-Pacific region tumbling against the Canadian dollar. The Bank of Canada had been expected to raise the cost of borrowing again this year, following a quarter-point hike in July, but most analysts […]
The Reserve Bank of Australia maintained its cash rate at a record low of 1.5% on Tuesday and offered little for AUD bulls to get their teeth into. The bank remains concerned about weak wage growth and elevated levels of household debt. On Australian economic growth – currently at 1.7% – this “will gradually pick […]
A better than expected Chinese manufacturing PMI failed to lift the yuan or Australian dollar on Thursday morning against a US dollar determined to end the month in the green. The Chinese PMI for the manufacturing sector came in at 51.7 for August, slightly ahead of the market forecast of 51.3 and July’s reading of […]
On Wednesday morning, the Australian dollar-to-New Zealand dollar exchange rate came within three pips of making a sixteen-month high after it finally breached 1.1 – the major technical resistance level in this rate. A rally slightly above 1.1 on March 16th (to 1.1019) was quickly rejected and preceded a three-month decline in AUD/NZD to levels […]
The New Zealand government piled misery onto the New Zealand dollar on Wednesday with its announcement that it had revised downward its forecasts for economic growth this year and next. Treasury officials said that growth for the year to June 2017 would likely come in at 2.6%, from earlier expectations of 3.2%, and have forecast […]
Barclays FX research team have this week reaffirmed their view that the Australian dollar will trade in a flat or downward trend for the rest of this year. As of 2pm GMT on Tuesday, the currency was buying USD 0.792. Barclays believe that markets are yet to price in the Australian dollar risk presented by China’s […]
We take a look at why not using your bank for foreign exchange is generally a good idea to save money. As an example, we compare the 4 big Aussie banks rates for transfers and travel cash to two popular foreign exchange specialists, OFX for transfers and Travelex for travel money.
A near-$2 rise in the price of oil supported the so-called ‘commodities currencies’ on Friday, many of which gained close to a percent against the US dollar and made respectable gains against the euro and Japanese yen. Oil’s 3.9% rise to $48.74 per barrel (NYMEX crude futures, September delivery) followed news that US and Canadian […]
Fuelled by a return to “risk-on” amid easing geopolitical tensions and ahead of a crucial employment report, the Australian dollar rose broadly and was the currency world’s best performer yesterday. Notable exchange rates include AUD/NZD, which rallied to a fifteen-week high of N$1.087, and AUD/GBP, which rallied to a four-and-a-half-month high of £0.616. A notable […]
The yen fell by nearly a percent yesterday against the US dollar – its biggest one-day fall in six weeks – as investors regained their appetite for risk amid an easing of the tense situation surrounding North Korea. The yen, which has long been considered the FX world’s premier safe haven, typically falls in value […]
Amid growing tensions between the US and North Korea, investors fled on Thursday to the safety of the Japanese yen, gold and Treasuries. Earlier this week, US president Donald Trump had promised to lay “fire and fury” on North Korea should any attempt be made by the rogue nation to harm the US. Not one […]
Tuesday’s Asian session was stirred by a surprise surge in the Chinese yuan. Starting around 9:30am in Beijing, the yuan began rallying strongly against the dollar, with offshore rates declining (the yuan strengthening) to 6.7024 by 1pm, from rates earlier in the session around 6.73. Onshore yuan easily broke the 6.7 level and as of writing […]
The US dollar ended the week on a high, posting its best day in more than six months following Friday’s solid US employment data. The US Dollar Index (DXY) surged from levels in the high 92s to the high 93s after the US Bureau of Labor Statistics said that non-farm payrolls had risen by 209,000 […]
The South African Reserve Bank (SARB) surprised markets in July when it cut interest rates by a quarter-point to 6.75% – the country’s first rate cut since 2012. Prior to the decision, of the fifty economists polled by Reuters and Bloomberg, only three had predicted a move to lower the cost of borrowing. This rate […]
The recent plunge in the Swiss franc continued on Friday with the currency falling to new multi-month lows against several of the other majors. Against the euro, Switzerland’s currency fell to an eighteen-month low of €0.88 (EUR/CHF 1.1363). The franc has fallen in near-vertical fashion this week and the pace of its fall has only […]
Headline CPI growth in Australia fell below market expectations on Wednesday, disappointing those seeking reasons for potential RBA hawkishness at their August 1st meeting. The Australian Bureau of Statistics (ABS) said on Wednesday morning that consumer prices rose in the second quarter by just 0.2% – down on the market forecast for 0.4% and below […]
The British pound is set to fall by as much as 15% by the end of 2017 according to Guy Petcho of Voya Investment Management. Petcho, who formerly was a part of George Soros’ investing team, said in an interview with Reuters on Friday that a turn for the worse in UK economic growth will […]
Officials at the Bank of Japan (BoJ) said today that they were pushing back the time frame for achieving their 2% inflation target to the end of 2019, marking yet another defeat in the bank’s long-term battle against deflation. When the target was introduced by BoJ Governor Haruhiko Kuroda in 2013, it was forecast that […]
Ahead of today’s US non-farm payrolls data, the Hong Kong dollar’s fall continues unabated. This week the currency is holding above 7.81 against the US dollar and reached an eighteen-month low (a USD/HKD high) on Monday of 7.8140. Hong Kong dollar weakness continues to be driven by the ever-widening gap between local and US interbank […]
At 04:30 GMT on Tuesday, traders will learn the latest decision on interest rates by Australia’s central bank, the Reserve Bank of Australia (RBA). The decision will also be accompanied by a statement from the bank. While rates are expected to be unchanged at their record low of 1.5%, there is a sense of anticipation […]
With all votes counted, it has been confirmed that Japan’s ruling party, the Liberal Democratic Party (LDP), has been crushed in Sunday’s Tokyo Metropolitan Assembly (TMA) election. The TMA is the prefectural parliament of Tokyo and its members are elected every four years. The LDP, who are led by Japanese Prime Minister Shinzo Abe, won […]
This week the Philippine peso fell against the dollar to levels not seen since September 2006. Recent peso weakness, driven by a deterioration in the state of the Philippines’ current account, finally pushed USD/PHP above the 50.50 resistance level which had kept the exchange rate contained since February. USD/PHP reached highs of 50.72 on Thursday but did […]
The Malaysian ringgit was Asia’s worst performing currency in 2016, having suffered from a slump in the oil price, a general deterioration in Malaysia’s economic outlook and a far-reaching political and economic scandal involving the country’s Prime Minister, Najib Razak, and billions of lost dollars from Malaysia’s state development fund. With that said, in 2017, […]
“Hedge funds are selling yen this week, and positive comments from Yellen could give them an excuse to sell even more,” said Kaneo Ogino of FX research group Global-Info Co yesterday. Ogino’s comments came at the end of yesterday’s New York session which ended with the yen trading at ¥111.84 against the dollar, marking a […]
To the glee of those holding Australian currency or AUD denominated assets, in recent weeks the Australian dollar has reversed its second-quarter trend. Having fallen almost 5.5% between late March and mid-May, largely because of a tumble in the price of Australia’s largest export, iron ore, the AUD/USD exchange rate has spent much of the […]
“We have to warn our people about the dangerous situation of the property market,” said Hong Kong’s Financial Secretary, Paul Chan, today. In an interview with Bloomberg’s Haslinda Amin, Chan expressed concern about a potential housing market correction in Hong Kong, which is currently the world’s most expensive city for property. In 2016, Hong Kong […]
The market received surprising trade data from Japan on Monday. What had been expected as a ¥43 billion trade surplus for the month of May was actually a deficit of ¥203 billion. April’s surplus had been ¥480 billion. The data came as a surprise to many given that the Japanese economy had seemingly been picking […]
On Monday, US ratings agency Moody’s cut its credit ratings on Australia’s four largest banks by one notch to Aa2 from Aa1. The banks – Westpac, ANZ, Commonwealth Bank and National Australia Bank – retain their “investment grade” status but are no longer top-rated by the agency. Less well known, smaller banks that were downgraded […]
Having been one of Asia’s worst performing currencies for some time, the Malaysian ringgit has turned a corner recently; a small corner, but a corner nonetheless. The ringgit is now clearly trending upwards against the US dollar, albeit on low volatility, and is up nearly 6% since lows in mid-November. One ringgit now buys more […]
A combination of this morning’s FOMC meeting and weaker than expected GDP data pushed the New Zealand dollar down against a broad group of currencies on Thursday. Data released by Stats NZ on Thursday morning showed that GDP rose 0.5% in the first quarter, which although higher than a 0.4% print in the fourth quarter, was comfortably […]
This morning, investors learned that the Westpac-Melbourne Institute (WMI) survey of Australian consumer sentiment fell last month by 1.8% and remained in “pessimist” territory for the seventh consecutive month. The survey is seen by many analysts as an important gauge of the Australian public’s willingness to spend, which is itself an important driver of the […]
On Friday, US ratings agency Moody’s downgraded the sovereign credit rating of South Africa to Baa3 from Baa2 and assigned the country a negative outlook. The rating change concludes a review of South Africa by the agency which began on April 3rd. A Baa3 rating keeps South Africa at “investment grade” with Moody’s, one notch […]
The New Zealand dollar was the best performing of the FX majors in May. By the month’s end, the currency had gained 2.9% against the US dollar, beating a resurgent euro, which gained 2.6%, into first place. The rapid appreciation of New Zealand’s currency, which has been attributed by Citi Bank to improving trade, strength […]
The UK is on course for a hung parliament following yesterday’s general election and the British currency has tumbled to multi-week lows against most currencies. As of 3am GMT, with around half of the votes counted, it looks fairly likely that the ruling Conservative party will win the most seats, but that it will fall […]
The Australian dollar jumped 0.5% against the US dollar to 0.754 within minutes of this morning’s release of better than expected GDP data. The data, released by the Australian Bureau of Statistics, showed that Q1 GDP grew at 0.3% – slightly stronger than the forecast for 0.2% but a significant fall from growth of 1.1% […]
In a decision widely expected by the market, Australia’s central bank, the Reserve Bank of Australia (RBA), maintained the country’s interest rate at its record low of 1.5% today. In an accompanying statement, the RBA’s Governor, Philip Lowe, said that “annualized GDP growth is expected to have slowed in the March quarter,” but that “growth […]
Within the past several hours, a story that will no doubt mushroom over the coming days has developed. We have, it seems, the makings of another gulf crisis. Early this morning, four Arab nations, led by Saudi Arabia, have announced that they have severed diplomatic ties with Qatar and are acting to close all access […]
The US dollar fell across the board yesterday and the Dollar Index (USDX/DXY) fell to 96.67 – its lowest in nearly seven months – following a highly disappointing US jobs report. For traders, the monthly report, which includes numbers for US non-farm payrolls, average hourly earnings growth, as well as the unemployment and participation rates, […]
The Australian dollar fell sharply on Thursday morning, adding to across-the-board losses on Wednesday, as negative economic data from China easily beat positive Australian data in the game for greatest influence, and as iron ore fell to $55 per ton in the NYMEX futures market. As of 03:30 GMT on Thursday, the Australian dollar sits […]
Late on Tuesday night, the British pound fell two-thirds of a cent against the dollar to 1.2789 following results from the latest YouGov poll, which indicate that the UK’s ruling Conservative party will fall 16 seats short of an outright majority and that Britain faces a hung parliament after its general election on June 8th. […]
Of the FX majors, the New Zealand dollar has been the best performer in May. At the end of yesterday’s New York session, with NZD/USD at 0.754, the pair is up 2.9% since May 1st. By comparison, the kiwi’s closest cousin, the Australian dollar, is down 0.5% against the US dollar. The New Zealand dollar […]
The Thai baht had its best day yesterday since March and has forced itself to 22-month and 15-month highs against the US dollar and Australian dollar respectively. USD/THB fell by 0.55% yesterday to 34.15, finally breaking the 34.25 level that had held the pair up since April 3rd. And the baht has strengthened again this […]
The Australian dollar has fallen this morning following a downgrade of China’s debt rating by US ratings agency Moody’s. The giant Asian nation has been assigned a new rating of A1 (from Aa3) by the agency on the grounds that its “financial strength will erode somewhat over the coming years.” It is the first time […]
As of writing, a little before 5am GMT on Tuesday, the Australian dollar has reached 0.75 versus the US dollar. This psychologically important level will be welcomed by Australian dollar bulls who, more than most, have suffered during the past two months after watching the currency decline from 0.7750 to 0.7328 between March 21st and […]
In the past several hours, the euro has surged following the release of comments from German Chancellor Angela Merkel, who has said that the single currency is “too weak” for Germany – weakness which is “due to the ECB’s policy” and which “makes German goods…comparatively cheap.” As of writing at 13:35 GMT, the euro is […]
The likelihood of a US rate hike in June is falling fast, as is the US dollar. Just one week ago, the implied probability of the Federal Reserve hiking US interest rates at next month’s meeting – a probability derived from prices in Fed funds futures contracts – stood near 85%. As of Monday, that probability had […]
Bank of America Merrill Lynch predicted yesterday that the Australian dollar-to-US dollar exchange rate will fall to 0.7 within 2017 – a move that would mark a near-6% fall from yesterday’s closing rate of 0.7426. Analysts at the bank have come to their conclusion following an in-depth analysis of Australian steel production rates and port […]
The price of WTI crude oil rose by almost a dollar yesterday to $48.79 – it’s sixth daily gain in the past seven – and prices in the futures market for 62% iron ore held above $60 per metric ton, both of which gave a boost to commodities currencies. Oil rallied after energy ministers from […]
The New Zealand dollar has fallen more than a cent against the US dollar following this morning’s RBNZ statement. As expected by the market, New Zealand’s official cash rate was kept at its record low of 1.75%, but the dovish tone of the RBNZ’s accompanying statements has surprised many. “Monetary policy will remain accommodative for […]
There is good news for those in the US, Europe, Japan, Singapore, the UK, New Zealand, Taiwan, India, Mexico and just about anywhere at all, and that news is: that the Australian dollar is offering itself up for sale, in a buy 1 get all special. If you’ve always dreamt of cuddling that koala, buying […]
Former Rothschild banker and centrist candidate Emmanuel Macron is the new French president. Macron secured almost precisely two-thirds of yesterday’s vote (66.06%) and, in doing so, easily fended off his competition, Marine Le Pen, who secured one-third (33.94%). At 39, Macron will become France’s youngest ever president. He also becomes the first president since 1958 […]
A rebound in US non-farm payrolls data surprisingly saw the US dollar fall yesterday against all of the other majors, with the exception of the Japanese yen. Yesterday’s headline reading for April of +211k new jobs stood in stark contrast to March’s number of only +75k (revised lower from +98k). March’s figure had missed market […]
Judging by asset prices, investors are no longer concerned about a Marine Le Pen victory in Sunday’s French election. As of writing, at 05:20 GMT on Friday morning, the euro is buying almost 1.1 US dollars (EUR/USD 1.0989) and is at its highest level against the ‘greenback’ since November-9th, the day of Donald Trump’s surprise […]
Yesterday on BestExchangeRates.com, we suggested that now might be the time to change your Australian dollars into Canadian dollars, having seen the Aussie’s buying power reach 6-month highs on Tuesday. Those words now seem prophetic, given what we saw yesterday in Australian dollar exchange rates. The Australian dollar tumbled across the board yesterday, including against […]
Among the FX majors, the Australian dollar and Canadian dollar are considered the most important ‘commodity currencies’, which is to say that the fortunes of each are heavily influenced by changes in the price of commodities or by their respective nation’s ability to sell them. Canada is the world’s sixth-largest oil producer, with oil making […]
Little was expected from today’s RBA announcement, and little was delivered. Interest rates in Australia were kept at record lows of 1.5%. Changes in Australian dollar exchange rates pre and post-RBA have been minimal. As of writing, a little more than three hours after the RBA’s announcements, both AUD/USD and AUD/JPY are slightly lower from […]
Within the past hour, the Australian dollar has fallen sharply following weaker than expected CPI data. Figures from the Australian Bureau of Statistics show that consumer prices grew 0.5% in the first-quarter of 2017 and at an annualized rate of 2.1%. AUD/USD fell from 0.7539 to 0.7508 on the news and, as of writing, trades […]
In their latest weekly foreign exchange report, US giant Citi Bank have predicted a rise to 118.0 in USD/JPY in the coming 6-12 months, representing a 7% fall in the dollar buying power of the yen. The yen will depreciate against the dollar as US Treasury yields rebound following future announcements on US fiscal stimulus […]
There’s only one story in town this morning – the battle for Europe’s future, otherwise known as the French general election. As had been predicted for many months, the pro-Europe, centrist candidate Emmanuel Macron and the far-right, Eurosceptic candidate Marine Le Pen have made it through to the head-to-head second round of voting, to take […]
Yesterday, ABN AMRO released their latest FX forecasts for 2017 and 2018. There were few notable revisions, nor was there much in the way of standout predictions, with the exception of one – NZD/USD to rise to 0.80 in 2018. The ‘kiwi’ hasn’t traded at or above 0.80 against the US dollar since October 2014. […]
Consumer prices in New Zealand are rising at their fastest rate in more than five years, said Statistics New Zealand today. CPI rose 1% in Q1, ahead of the market forecast of 0.8% and Q4-2016’s 0.4%. The rise brings annualized inflation to 2.2% – its highest since September 2011. The New Zealand dollar jumped on […]
The US dollar has started the week lower against most currencies as traders play catch up following market holidays on Friday. In Friday’s market update at BestExchangeRates.com, we described how March’s US core inflation fell month-on-month for the first time in seven years, but with many investors away for the Good Friday holiday, we also […]
Markets ended the week quietly, which was unsurprising given that Canada, Germany, the UK and Switzerland all had public holidays yesterday. What was surprising was the extraordinary miss in Friday’s US inflation data. Combined with soft retail sales figures and last week’s big miss in non-farm payrolls, the US Federal Reserve appear vindicated in what […]
The Thai baht closed higher against the US dollar again on Thursday, ending the day just several pips short of recording its highest close in 21-months. Against the euro, the baht posted its highest close in 23-months. USD/THB and EUR/THB ended the New York session at 34.37 and 36.40 respectively. The baht continues […]
First-quarter data released this morning shows that the Singapore economy has contracted at an annualized -1.9%. The number continues to add to what has become a theme of incredible GDP volatility in Asia’s ‘Lion City’. Annualized GDP growth to the end of Q4 2016 had been a whopping +12.3%, and prior to that, -0.4%. Also […]
The theme in financial markets on Tuesday was, once again, of re-positioning into safe haven assets on heightening geopolitical risk. The day saw North Korean state media warn of a nuclear strike on the US if provoked, which was followed by a tweet from president Donald Trump saying that the rogue nation was “looking for […]
The probability of a significant appreciation of the Japanese yen in the coming weeks has increased substantially, at least according to Georgette Boele, coordinator of FX strategy at Dutch banking group ABN Amro. In the bank’s latest update on markets, Boele points to factors such as the Federal Reserve’s plans for significant balance sheet reduction […]
Despite what has been described by CNBC as a “shocker” of a US jobs report on Friday and a US attack on Syria – a move certain to have geopolitical ramifications – the US dollar ended the week strongly. Against the Japanese yen, the dollar fell toward 110.10 early in the day on news of […]
Within the past several hours, safe-haven assets such as the Japanese yen and gold have jumped, and stocks have fallen, following a US military strike on a Syrian airbase. The launch of fifty Tomahawk cruise missiles from US Navy warships in the Mediterranean Sea was ordered by President Donald Trump. The decision to strike an […]
The FX markets welcome China back from a two-day holiday on Wednesday, and markets will be hopeful that the Asian giant’s re-introduction, combined with a host of US data, will spark new life into what has been an uneventful start to the FX week. Again yesterday, like the day before, some of the world’s most […]
The Australian dollar has had a tough couple of weeks. Yesterday, against the U.S. dollar the Aussie finished the FX session down for the third consecutive day (its eighth daily fall in the past ten trading days). As of writing, AUD/USD is down again in Tuesday’s Asian session, trading at 0.7591, marking a 2% fall […]
Following last week’s broad strength in the Japanese yen – strength that produced a sharp fall in AUD/JPY from 87.00 to 84.00 – Australian dollar bulls will today be breathing a sigh of relief following the yen’s inability to break further below the 84 handle. At the end of New York’s FX session on Tuesday […]
In this article we take a look at National Australia Bank exchange rates and examine how NAB foreign exchange compare to other options available to you.
In this guide we take a look at TorFX exchange rates, customer service and user ratings, so you can see how they compare to other providers.
BestExchangeRates was selected as a delegate for the Australia Week in China (AWIC) trade delegation to China with Prime Minister Malcolm Turnbull in April 2016. AWIC 2016 was the largest business mission ever organised by Austrade consisting of almost 1000 delegates from around 750 companies. AWIC 2016 focussed on forging business linkages, building the bilateral […]
A new year brings a wealth of sporting delights around the world, from Euro 2016 to the Invictus Games. Here at World First, we help people transfer money around the world. Some of the people we help in 2016 might be out in the US for the Ryder Cup golf, and enjoy it so much […]
Want to do something different in 2016? We’ve scoured the world for the biggest, messiest, noisiest, most iconic and, frankly, the weirdest events around the world to compile the ultimate list of 101 things to do around the world in 2016. From sport to music, festivals to the weird and wonderful, we’ve got you covered. […]
Being apathetic about currency exchanges rates can be very damaging for your business. Let’s look at some of the dangerous myths that people cling to, to justify keeping their head in the sand. 1. What goes up must come down Or the reverse: that a sinking currency must recover eventually. History tells us that movements […]
The RBA has made a lot of noise about the economic benefits of a lower Australian dollar recently and most businesses involved in the local tourism sector, and exporters in general, agree a lower currency would help them remain competitive. Some manufacturers might beg to differ however. In theory a lower Aussie dollar can help […]
Excited to announce that the BestExchangeRates team and friends (pictured below) will be converging from Australia and the UK to Japan for a field study trip to research all matters Yen AUD/JPY GBP/JPYand oh a few powder runs and Onsen along the way 🙂 Along the way we will compare using Cash, Bank Credit Cards […]
We came across an article in The Australian Financial Review today on an interesting experiment of splitting a $200K AUD->USD transfer into two, with half sent via OzForex and the other half by one of the ‘big four’ Australian banks on the same day to compare what arrives at the other end. The results are […]
The Australian dollar has hit new record highs in recent months rising to a 28 year high against the pound sterling (GBP) and also against the Japanese yen (JPY). Despite speculation that the recent RBA interest rate drops would substantially impact its valuation, the strong Aussie dollar looks like it’s here to stay awhile. Australians […]
By Carly Pickering, OFX The high Australian dollar means there’s rarely been a better time to travel. Not only are airfares, accommodation and transport more affordable, but your increased shopping power will net you all types of bargains. But while it’s true that the Australian dollar is up for most destinations, there are a few […]
Bank of Queensland currency exchange services offer very competitive exchange rates on the following products : foreign cash travellers cheques pre-paid travel money cards (referred to as Cash Passport cards) You can purchase foreign cash on-line via the BOQ Website with no purchase fee, foreign cash is also available via all BOQ branches, where a […]
How does the gyrations of the Aussie Dollar affect Shoppers, Travellers, Importers, Exporters, Manufacturers, Tourism operators, Educators? Strong Australian dollar (above 0.90 USD): Winners Shoppers: Imports like electronics and cars should be cheaper in coming months if retailers pass on savings from new stock. Buying online from places like the US and UK will also […]
I was off to the local bank to exchange Aus dollars to Malaysia Ringgit at an exchange rate of 2.63. your site had the Travelex rate published as the best rate at over 2.7 (2.72 I think?). So, I travelled further to get to the nearest Travelex and queued for 30 mins ….. to get […]
In January 2019, Currency Online joined forces with XE. By bringing the two companies together, XE combined their 25 years of authority in currency exchange and Currency Online’s comprehensive range of money transfer services.