Home Daily Commentaries Aussie falls through yesterday’s trading sessions

Aussie falls through yesterday’s trading sessions

Daily Currency Update

AUD - Australian DollarThe aussie fell throughout yesterday’s trading session to open at 0.7583 against the USD this morning as concerns over a global economic recovery due to an ineffective COVID-19 vaccine by AstraZeneca prompted a risk-off move with investors flocking to the USD. It is a quiet rest of the week ahead for the AUD with no major news being released. However, we may see some volatility against the USD with further talks by members of the FOMC scheduled to speak later in the day.

Key Movers

Federal Reserve Chair, Jerome Powell noted in his talk last night that the US does expect for inflation to go up this year, partly due to the economy recovering from COVID-19. While he does expect higher inflation; he advised that it would be transitory and they would aim to guide it back to 2%. In Switzerland, the Swiss National Bank is scheduled to release their Monetary Policy Assessment tonight containing the outcomes of their decision on interest rates, comments regarding the country’s economy as well as clues on future rate decisions.

Expected Ranges

  • AUD/CAD: 0.9405 - 0.9635 ▼
  • AUD/EUR: 0.6290 - 0.6520 ▼
  • GBP/AUD: 1.7700 - 1.8405 ▲
  • AUD/NZD: 1.0780 - 1.0995 ▲
  • AUD/USD: 0.7440 - 0.7680 ▼