AUD to USD exchange rate has quite recently been going between the key resistance under 0.7500 and the key support at 0.7443. Along with the volatility in Australian economy, Aaustralian dollar to US dollar conversion extended losses in the recent session following higher-than-expected US inflation numbers for the month of August.
The Aussie dollar currency rate declined in the last week amid poor economic reports, including lower than expected job numbers. In the month of August, Australian economy vanished 3.9K jobs, poorer than analysts’ expectations for the 15K.
However, AUD/USD conversion rate experienced support in the last month from optimistic job data, which increased over 25K, compared to the same period of last year. In spite of the feature number, alternate points of interest are cheery.
The unemployment rate beat with a shocking drop to 5.6%, yet it goes ahead top of a slide in the support rate.
Based on US inflation data, US consumer price index surged 0.2% in the last month, beating analyst’s expectations for the rise of 0.1%. Core CPI increased 0.3% compared to the expectations of 0.2%, the largest monthly boost since February.
It is difficult to say what will happen next in the Aussie dollar to US dollar rate, as there is pivotal U.S. monetary information due not long after the New York open later which will undoubtedly push the exchange rate of AUD to USD.
The Australian Dollar exchange rate will have significant impact of the upcoming FOMC monetary policy announcement.
The RBA has officially brought down rates twice this year, and if expansion flounders or the swapping scale hops, the bank will absolutely consider another quarter-rate cut. It’s the inverse story in the US, with a rate trek still a sensible probability in December.