The AUD/USD pair extended its winning streak into a 12th consecutive session on Monday, holding close to the more than two-month high of 0.6650 reached late last week.
Australian Dollar price this month
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
| USD | -0.0062 | -0.008 | -0.0064 | -0.0116 | -0.0152 | -0.01 | -0.0008 | |
| EUR | 0.0062 | -0.0018 | -0.0004 | -0.0054 | -0.0091 | -0.0038 | 0.0055 | |
| GBP | 0.008 | 0.0018 | 0.0041 | -0.0036 | -0.0073 | -0.0021 | 0.0073 | |
| JPY | 0.0064 | 0.0004 | -0.0041 | -0.0053 | -0.0091 | -0.0038 | 0.0055 | |
| CAD | 0.0116 | 0.0054 | 0.0036 | 0.0053 | -0.0043 | 0.0016 | 0.0109 | |
| AUD | 0.0152 | 0.0091 | 0.0073 | 0.0091 | 0.0043 | 0.0053 | 0.0147 | |
| NZD | 0.01 | 0.0038 | 0.0021 | 0.0038 | -0.0016 | -0.0053 | 0.0094 | |
| CHF | 0.0008 | -0.0055 | -0.0073 | -0.0055 | -0.0109 | -0.0147 | -0.0094 |
RBA Outlook Supports the Aussie
The Australian Dollar (AUD) has remained resilient in recent weeks as markets anticipate that the Reserve Bank of Australia (RBA) will signal on Tuesday that it is finished with rate cuts for the time being. Traders have scaled back dovish expectations, with many now expecting the RBA to tighten policy in the near term as inflationary pressures prove more persistent than expected.
Australia’s annualized inflation accelerated to 3.2% in Q3, up from 2.1% in Q2, reinforcing the view that additional policy tightening may be required.
China’s Strong Trade Data Boosts AUD
China’s November Trade Balance data delivered a robust upside surprise, driven by stronger-than-expected export growth. The National Bureau of Statistics reported that the trade surplus widened to $111.68 billion from $90.07 billion in October, exceeding the forecast of around $100.2 billion.
Exports surged 5.7% in Chinese Yuan (CNY) terms, reversing from a 0.8% decline in October.
Given Australia’s strong trade ties with China, the upbeat Chinese data has provided meaningful support to the AUD.
Fed Decision in Focus as USD Softens
In the United States (US), investors are awaiting Wednesday’s Federal Reserve (Fed) policy announcement. The Fed is widely expected to cut interest rates by 25 basis points (bps), bringing the target range to 3.50%–3.75%, amid signs of further deterioration in the labor market.
The US Dollar Index (DXY), which tracks the Greenback against six major currencies, is trading cautiously near the five-week low of 98.75 set on Thursday, keeping USD-related pairs under pressure.
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