The Australian Dollar managed to hit a five-month high against the US Dollar in Asian trading before going on the retreat following the release of data out of China and after inflation data increased the likelihood that the Australian Central Bank will refrain from making further cuts to borrowing costs.
Data out of China, Australia’s biggest trading partner showed that stocks fell which in turn dampened investor confidence in the world’s second largest economy. As a result the ‘Aussie’ weakened against Sterling and fell against the Euro.
Against its New Zealand counterpart the ‘Aussie’ managed to hit a one-month high after the New Zealand Dollar which was weakened against all of its major peers after a technical indicator indicated that the currency has risen too rapidly in recent weeks. As a result the ‘kiwi’ tumbled against all of its major peers.
Back in Australia and the currency softened following the release of the latest Consumer Price Index. The report showed that inflation in the Oceanic nation rose by 1.2% in the September quarter to an annual rate of 2.2%, stronger than the 0.8% quarterly rise and 1.8% annual rate predicted by economists.
The currency received some support from expectations that the stronger figures will reduce the likelihood that the Australian Central Bank will cut the cash rate when it gathers for its policy meeting in November. Traders are saying that there is now an 82% chance that the Central Bank will choose to hold interest rates at 2.5%.
Current Exchange Australian Dollar (AUD) Rates
The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9631
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.7001
The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5958
The Australian Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.1478
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4283
The Pound Sterling /Australian Dollar Exchange Rate is currently in the region of: 1.6783
Current New Zealand Dollar (NZD) Exchange Rates:
The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.8390
The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6099
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5190
The New Zealand Dollar /Australian Dollar Exchange Rate is currently in the region of: 0.8711
The US Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.1918
The Pound Sterling/New Zealand Dollar Exchange Rate is currently in the region of: 1.9265
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6395
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