This is an older news update for the Australian dollar. Click here to view the latest daily update.

Australian dollar daily update for 22nd December 2017


The Australian dollar ended the day higher yesterday and continues to strengthen this morning. While there has been a limited amount of news or economic data that has directly influenced the currency, the Australian dollar is strengthening thanks to stronger-than-expected inflation data from Canada. Canadian economic data showed that headline inflation was rising at a faster-than-expected pace of 2.1%. As the fortunes of the two currencies are linked by global commodities, the Australian dollar followed the Canadian dollar higher. Our medium-term outlook on the Australian dollar remains bearish.  

AUD/USD is currently up and trading just above 0.7710. Looking at EUR/AUD, the pair is down and currently just above 1.5360. The GBP/AUD exchange rate is down slightly and currently above 1.7340.  

This is a very light week for economic data and events relating to the Australian dollar. The government’s mid-year economic and fiscal outlook projected a shrinking budget deficit. The RBA’s meeting minutes highlighted confidence regarding the future while noting weakness in consumer spending. Last week, employment changes beat expectations by a wide margin.


Subscribe to the MarketsNow Australian dollar daily update