AU
CA
HK
NZ
SG
UK
USDaily & Weekly Market News
Get access to our expert daily and weekly market analyses and discover how your currency has been tracking with our exchange rate tools
IMPORTANT: This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. OzForex Limited ABN 65 092 375 703 (trading as “OFX”) and its subsidiaries make no recommendations as to the merits of any financial product referred to in the website, email or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.
DISCLAIMER: OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website. Read full disclaimer. OFX provides international money transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.
OFX is regulated in Australia by ASIC (AFS Licence number 226 484). Read our Money Laundering Statement and Privacy Policy.
AUD quiet leading up to Fed Reserve announcement
AUD - Australian Dollar
The AUD fell throughout yesterday’s trading day, unable to break the ceiling of 0.7. Hitting an almost one-week low of 0.6967, the AUD opened against the USD this morning at 0.6973. It has been a relatively quiet week on the macroeconomic data front for the AUD as we await the Federal Reserve announcement.
Key Movers
Lack of movement in the market is not uncommon leading up to a large announcement, as US Federal Reserve chair Jerome Powell is scheduled to speak this morning. As head of a central bank, the Federal Reserve controls short term interest rates and volatility is often experienced during his speeches as they are often used to drop subtle clues regarding future monetary policy.
There has been little news lately regarding the US-China trade war barring a trade dispute between Japan and Korea. Japan have imposed restrictions on exports to Korea that will impact the production of memory chips and smartphones. In other major news, The UK GDP data is scheduled to be released early tomorrow night. Showing the changes in the total value of goods and services, this data shows a measure of economic activity and is expected to have a major impact on the GBP.
Expected Ranges
AUD/CAD: 0.9090- 0.9160 ▼AUD/EUR: 0.6255 - 0.6185 ▲
GBP/AUD: 1.7825 - 1.8080 ▲
AUD/NZD: 1.0485 - 1.0555 ▼
AUD/USD: 0.6930 - 0.7010 ▼