Australian Dollar (AUD) Weekly Review
- AUD/USD trading at: 0.6362 – Down over a cent on the week’s high
- AUD/GBP trading at: 0.5099 – Up almost a cent on the week’s low
- AUD/EUR trading at: 0.5864 – Up over a cent on the week’s low
- AUD/NZD trading at: 1.0602 – Up almost 2 cents on the week’s low
*Rates shown are market rates, not available to the public. Rates are current as at 17 April 2020.
The Australian Dollar started the week strongly as hopes that the lockdowns implemented by global governments were having a positive impact and reduced demand for the safe-haven US Dollar.
However, a gloomy global growth outlook from the IMF and plummeting oil prices knocked the ‘Aussie’ back as the week continued.
The Australian Dollar recorded notable losses against the US Dollar, Pound and Euro, despite Australia’s better-than-expected employment data.
However, AUD exchange rates staged a rebound before the weekend, with the currency jumping against its rivals ahead of the release of China’s latest growth data.