On the other hand the interest rate market has already acted by lifting swap yields in favor of the Aussie dollar and FX traders have bought Aussie Dollar vs. the Euro and GBP. I expect to see more of the same in the weeks ahead. Also worth noting is ...
The Australian dollar jumped back towards one-month highs overnight, shrugging off a new low in iron ore prices after the RBA governor told economists they should "chill out" on the prospects for another rate cut next week.
The Australian dollar plunged on Monday, as further greenback support and the resulting commodity price weakness reversed a week-long rally driven mainly by investors unwinding or covering bets the local unit would decline.
Nov. 26 (BusinessDesk) - The New Zealand dollar gained against its trans-Tasman counterpart after figures showed Australian mining investment slumped in the third quarter, reigniting speculation the central bank may have to cut interest rates again.
The Australian dollar had regained some ground following on worse-than-expected capital expenditure figures on Thursday afternoon, but with the Thanksgiving public holiday in the US and little data out overnight, it has hardly moved since.
Shares in Billabong have plunged after the surfwear and skateboards retailer revealed the lower Australian dollar and weakness in the North American market had dented earnings in the first four months of fiscal 2016.