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AUD Down on Sliding Confidence

Yesterday’s high: AU$1.6521

Yesterday’s low: AU$1.6435

Australian Dollar Drifts Lower vs. GBP

The Australian Dollar was pressured lower on Wednesday after Westpac’s consumer confidence index dropped by -1.2% in August, taking the measure to 95.5.

AUD exchange rates were also feeling the strain as a result of comments from Reserve Bank of Australia (RBA) Deputy Governor Christopher Kent, who said that the markets should be concerned about stretched household balance sheets.

AUD Outlook: Consumer Inflation Expectation in Focus

Australian data is now lacking until the publication of Australia’s Consumer Inflation Expectation report for August. A lower figure could reduce the probability of a near-term Australian interest rate increase and weigh on the Australian Dollar.

Key Events

10th August

02:00 Australia Consumer Inflation Expectation

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To keep up to date with the Australian Dollar, visit the AUD blog in our Currency News section.

James Baxter

Senior Currency Broker
T: 01442 892 062

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