After falling against its peers yesterday as the global economic outlook dimmed in the wake of a stream of worse-than-anticipated data from major world economies, the ‘Aussie’ was able to strengthen during local trade.
The Australian Dollar exchange rate was trading in the region of 1.0301 against the US Dollar as of 10:00 am GMT
The South Pacific currency climbed by 0.8 per cent against the US Dollar, achieving 1.0302 cents before the end of the Australasian session.
Increasing gold prices were a key cause of the Australian Dollar’s gains.
After China released worse-than-anticipated GDP figures earlier this month the price of gold crashed, dropping by roughly 16 per cent within five days.
However, since then gold has recovered by around 9 per cent, notably advancing yesterday as the US Dollar broadly softened – pushing up the precious metal’s relative value.
The safe-haven ‘Greenback’ weakened as a larger-than-forecast decline in US durable goods orders caused speculation regarding the odds of global central banks continuing or expanding present stimulus measures to mount.
Meanwhile, the New Zealand Dollar extended gains against its peers as it continues to benefit from positive statements issued by Reserve Bank of New Zealand Governor Graeme Wheeler.
During the RBNZ’s rate announcement Wheeler asserted: ‘Growth in the New Zealand economy has picked up. The bank does not want to see financial or price stability compromised by housing demand getting too far ahead of supply.’
Current Australian Dollar (AUD) Exchange Rates
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The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 1.0301 >
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.7898 <
The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6737 >
The Australian Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.2083 <
The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 0.9709 <
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.2645 <
The Pound Sterling /Australian Dollar Exchange Rate is currently in the region of: 1.4844 <
The New Zealand Dollar/Australian Dollar Exchange Rate is currently in the region of: 0.8254 >
(Correct as if 10:00 GMT)
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