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AUD/USD has traded in the 0.6500 range through March – with a short rise above 0.6600. Economists at the National Australia Bank analyze the pair’s outlook.
Aussie still expected to appreciate
Our anticipation of a rise above 0.7000 in the second half of 2024 hinges on the reversal of the sustained strength exhibited by the USD over the past year. This reversal is expected to be initiated by the Fed easing rates in June, preceding a similar action by the RBA, alongside a gradual improvement in global growth throughout 2025.
We project the Australian dollar to conclude the year near 0.7200 before gaining momentum in 2025, potentially reaching 0.7800 by the fourth quarter.
