The foreign exchange market in 2018, a forecast for 2019 and a message from the CEO

  • Posted by Blair Pedersen on December 20, 2018 in Global Economies Global Money Transfer

forex-forecast-2019

In 2018, the Australian dollar has seemed to find some stability in October with it stabilising around 0.705 and then clawing its way back up since then to its current level at 0.72. The ‘aussie’ has been whacked by an appreciating US dollar, a Chinese economic slowdown and economic worries that there’s a bubble in the real estate market – a weighty concern expressed by the RBA

Against exotic currencies such as the Indian rupee, the Australian dollar has oscillated around the current level as it has done since 2016. Of note is the recent significant drop in the last few days due to foreign fund flows and a risk-off atmosphere. It remains to be seen if this is a sustained drop and a sign of things to come.  It’s the same situation with Filipino peso and the Australian currency really hasn’t seen much movement against currencies like it. Though it has settled at its current level of around after falling about 2.5% over the first half of the year.