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What happened to the AUD rate?





Recently the AUD/RMB rate has been a great news to some people, yet also a bummer to some else.


According to the forecast data of economic institutions, the AUD/CNY exchange rate will show an upward trend in the second half of the year.


Since May 27th, the AUD/CNY exchange rate has not fallen below 4.8, and has done so for many consecutive days.


The rise and fall of the Australian dollar has a direct impact on the cost of living in Australia.


There are also many friends who are about to pay deposit to schools said: why is the age of 4.6 rate gone forever?



What’s going to happen to AUD? Let Panda do some analysis for you:


Australia's inflation rate rebound may affect the interest rate hike 


Just on May 29, the Australian Bureau of Statistics released Australia's CPI inflation data for April this year.


Before the release, the market predicted that this time the data would have a slight drop to 3.4% from last month's 3.5%, but the results came out to be up to 3.6%, the highest level in the past 5 months!



Behind this could be a rebound in inflation fueled by local Australian rental costs, prices of fruit and vegetables and more.


But the higher-than-expected inflation figures will fuel concerns about price pressures and renewed acceleration in economic activities.


Many experts said that since it’s about to be June, and inflation is surprisingly having a sustained rebound in the last month of the first half of this year, it may bring more pressure on the RBA, the original expected rate cuts this year is likely to be unable to achieve.


And Australian Federal Reserve Governor Michele Bullock did not rule out this possibility.


That is to say, in order to curb the rebound in inflation, the RBA may again make the decision to raise interest rates.


Now the data shows a rate hike by the RBA may be a real possibility...


US Economy Has Impact on AUD Exchange Rate Adjustment 


Although the CPI exceeded expectations, the AUD exchange rate didn't seem to fluctuate too much.


However, it has risen slightly against both the US Dollar and the Chinese Yuan.


One of the reasons for the lack of change in the exchange rate may be that the Australian Dollar has recently risen to a new high for the year.


US economic data will have a greater impact on the AUD than Australian CPI data.


This Friday, the U.S. will release the Fed's favorite PCE data.



Influenced by monetary policy of the FED, AUD rate may face some adjustments in the next...



Overall, the trend of the Australian dollar in the second half of 2024 will be influenced by a number of factors, including interest rate policy, the RBA's decision, inflation data, and the state of international trade.


Although the RBA has not made a decision yet, as long as interest rates are not cut this year, the AUD/CNY exchange rate is likely to remain stable, or at least not fall significantly in a short period of time.


For those who have the need to exchange foreign currency or are about to study in Australia, you can pay more attention to the exchange rate trend of the Australian dollar in the near future and exchange your currency in a timely manner!


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