Today has not been a particularly positive one for the Australian Dollar (AUD), which has fallen into a state of decline against the Euro (AUD/EUR) and most other major peers.
In terms of market appeal, the Australian Dollar (AUD) has been faring poorly today. This is on account of there being no domestic data to refer to lately; the last piece of ‘Aussie’ news was the skilled vacancies result for February, which came yesterday and showed a slide to -0.9% from -0.4%.
Meanwhile, the ‘Aussie’ has been put under increasing pressure by Federal Reserve hawkishness, which has mainly been focused on the rising likelihood of an interest rate hike taking place as early as April.
The US Treasury has lately criticised Reserve Bank of Australia (RBA) officials for ‘jawboning’ the currency to a lower level, although RBA Governor Glenn Stevens has defended his actions by insisting that the Australian Dollar is potentially too high to control at the present time.
The Australian Dollar has fallen by -0.2% against the Euro and by -0.5% against the Pound Sterling (AUD/GBP) today, although a minor gain against the New Zealand Dollar (AUD/NZD) has also been seen.
The Euro (EUR) has made notable gains today, in spite of Tuesday’s terror attacks continuing to have a negative impact.
The most recent advances seen for the single currency have included a minor gain against the Australian Dollar (EUR/AUD), 0.6% against the Polish Zloty (EUR/PLN) and 0.8% against the South African Rand (EUR/ZAR).
These improvements have come against recent pessimistic forecasts from the European Central Bank (ECB), and have been partly induced by falling German import prices and rising Italian industrial sales/orders on the month in January.
The near future is not set to bring any Australian ecostats, therefore the only further movement in the pairing’s exchange rate is likely to come from the Eurozone side.
This will be in the form of the German import price indices for February, as well as the French finalised GDP figures for the fourth quarter.
The Australian Dollar to Euro (AUD/EUR) exchange rate was trending in the region of 0.6735 and the Euro to Australian Dollar (EUR/AUD) exchange rate was trending in the region of 1.4854 today.
Disclaimer: Currency-Converter.com.au and its data provider, TorFX, make no claims regarding the validity or exactness of the information provided in on this site and will not be held liable for any use, interpretation, or other implementation of the information provided. Currency-converter.com.au make no warranties, express or implied, as to results to be obtained from use of such information, and make no express or implied warranties of condition, quality, performance, merchantability or fitness for a particular purpose or use. Currency-converter.com.au shall not have any liability for the accuracy of the information contained in the services provided or ommissions there in which are made available on a free, as-is basis. None of the aforementioned parties shall be liable for any third party claims or losses of any nature, including, but not limited to, lost profits, punitive, consequential, special, incidental, indirect or similar damages even if advised of the possibility of such damages. Rates offered are interbank rates and may not be the same as offered by your financial institution, and do not include commissions. Rates shown on this site will vary from those provided by TorFX or other providers linked to from this site.