The Australian Dollar lost 0.00519 points or 0.68% to 0.75989 against the US Dollar on Friday as RBA’s Financial Stability Review revealed growing risks to the economy, indicating that it is watching the rise in the domestic housing market closely, noting however that rising asset prices are still consistent with low interest rates. Meantime, Jerome Powell signaled at the IMF Spring Meetings that the US central bank is nowhere near reducing support for the US economy, saying that while economic reopening could result in higher prices temporarily, it will not constitute inflation, while US Treasury Secretary Janet Yellen urged major economies to inject significant new fiscal support to secure a robust recovery. On the data front, services activity in Australia grew the most since June 2018 in March, while building permits surged 21.6% mom in February.
Historically, the Australian Dollar reached an all time high of 1.49 in December of 1973. Australian Dollar - data, forecasts, historical chart - was last updated on April of 2021.
The Australian Dollar is expected to trade at 0.76 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.75 in 12 months time.