By 31 October, the Australian dollar (AUD) had appreciated 6.9% in nominal terms over the previous month and was trading at 1.06 USD per AUD. The October appreciation contrasted the 9.3% drop recorded in September, when the AUD traded below parity (0.97 USD per AUD) for the first time in eight months. In addition, the October reading constituted the largest appreciation since September 2010. As a result of the October rise, the AUD has now appreciated an accumulated 3.4% versus the USD this year. Furthermore, at its current level, the AUD is trading 7.7% stronger than in the same month last year. The Australian dollar had depreciated in August and September as prices for iron ore and coal, its key commodity exports, moderated, reflecting expectations of slowing global demand and more subdued growth prospects for China, the main destination for Australia's export commodities. Currently, the AUD is experiencing increased volatility as uncertainty persists in international financial markets. On 18 November, the AUD was trading at 1.00 USD which marked a 5.1% depreciation compared to the end of October.
Australia Exchange Rate
Australian dollar picks up in October
November 18, 2011
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.