What factors are affecting the Australian dollar?

Domestic Australian Dollar (AUD) exchange rate developments

Today, May 12, 2024, the AUD exchange rate continues to be announced by the State Foreign Exchange Reserve Management Department at the buying - selling rate of 15,255 - 16,861 VND/AUD.

The State Bank determines the cross rate of VND/AUD applied to calculate export tax and import tax effective from May 9, 2024 to May 15, 2024 as 15,936.44 VND/AUD.

At Vietcombank , this morning the Australian Dollar buying price was 16,391 VND/AUD and selling price was 17,088 VND/AUD.

AUD exchange rate today May 12, 2024 at Vietcombank. Screenshot at 9:30

Comparing the Australian Dollar (AUD) exchange rate between the 9 largest banks in Vietnam, today, May 12, 2024, the AUD exchange rate in the buying direction has 0 banks increasing the buying price, 0 banks decreasing the buying price and 9 banks keeping the buying price unchanged compared to yesterday.

Meanwhile, in the selling direction, 0 banks increased selling prices, 0 banks decreased selling prices and 9 banks kept selling prices unchanged compared to yesterday.

Today, the highest price for buying Australian Dollars (AUD) by Vietnam Joint Stock Commercial Bank for Industry and Trade is 16,575.00 VND/AUD. The lowest price for selling Australian Dollars (AUD) is by Vietnam Prosperity Bank with 15,827.00 VND/AUD.

AUD exchange rate today 5/12/2024 surveyed at some banks. Screenshot at 9:30

Australian Dollar Exchange Rate at market price on May 12, 2024

Survey at the black market, in the trading session this morning, May 12, 2024, the buying price of AUD at the black market was 16,780 VND/AUD; the selling price was 16,900 VND/AUD.

AUD exchange rate today 5/12/2024 surveyed at the price market. Screenshot at 9:30

Australian dollar future trend

The Australian Dollar (AUD) eased but remained strong as the Reserve Bank (RBA) said further rate hikes were not needed, disappointing some investors who had been hoping for further rate hikes.

The revised forecasts suggest inflation will remain high and the economy will recover from a slowdown in the first half of the year. The RBA expects inflation to rise to 3.8% in June from 3.5% in March before falling back, only returning to the 2-3% target by the end of 2025 and reaching the midpoint of that range in 2026.

Hotter-than-expected inflation data and a still-strong economy give the RBA room to keep interest rates high for an extended period, which should be positive for the Australian dollar against other developed economy currencies that are reaching the end of their tightening cycle.

External factors affecting the Australian Dollar: Abroad, the factors that affect the Australian Dollar exchange rate are: US inflation and the Fed's interest rate outlook, and China's economic strength. These two factors are opposing each other, creating mixed and opposite effects on the AUD.

Negative factors: Inflation in the US is anchored above the central bank's target. Investors are waiting to see if US inflation unexpectedly rises again.

The greenback is regaining momentum as markets look ahead to next week's inflation report, which could change the outlook for a rate cut by the US Federal Reserve.

In recent months, the US has reported higher-than-expected inflation figures, leading to the conclusion that inflation is anchored above the central bank's target. As a result, policymakers have lost confidence in the pace of inflation cooling, leading to confusion about the timing of interest rate cuts. The recent jobs report has increased expectations that the Fed could start cutting interest rates in September.

Investors will be watching next week to see if inflation surprises higher again. A positive surprise could revive the view that the Fed may only cut once or not at all in 2024. Such an outcome would be positive for the USD and cool the AUD.

Positive impact factor: The Australian dollar has long been known as a 'trusted' currency of the Chinese economy, so when the Chinese economy strengthens, the Australian dollar also benefits and vice versa.

Refer to the most searched addresses for Foreign Currency Exchange - Buying and Selling Australian Dollars in Hanoi :

1. Quoc Trinh Ha Trung Gold Shop - No. 27 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

2. Gold and Silver Fine Arts - No. 31 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

3. Minh Chien Gold and Silver Store - No. 119 Cau Giay, Cau Giay District, Hanoi

4. Thinh Quang Gold and Silver Company - No. 43 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

5. Toan Thuy Store - No. 455 Nguyen Trai, Thanh Xuan District, Hanoi and No. 6 Nguyen Tuan, Thanh Xuan District, Hanoi

6. Bao Tin Minh Chau Gold, Silver and Gemstones - No. 19 Tran Nhan Tong, Bui Thi Xuan, Hoan Kiem District, Hanoi

7. Chinh Quang Store - No. 30 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

8. Kim Linh 3 Store - No. 47 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

9. Huy Khoi Store - No. 19 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

10. System of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB

Refer to the most searched addresses for Foreign Currency Exchange - Buying and Selling Australian Dollars in Ho Chi Minh City:

1. Minh Thu Currency Exchange - No. 22 Nguyen Thai Binh, District 1, Ho Chi Minh City

2. Ha Tam Gold Shop - No. 2 Nguyen An Ninh, Ben Thanh Ward, District 1, Ho Chi Minh City

3. Kim Mai Gold Store - 84C Cong Quynh, Pham Ngu Lao Ward, District 1, Ho Chi Minh City

4. Saigon Jewelry Center - 40-42 Phan Boi Chau, District 1, Ho Chi Minh City

5. Kim Chau Gold Shop - No. 784 Dien Bien Phu, Ward 10, District 10, Ho Chi Minh City

6. Kim Tam Hai Store – No. 27 Truong Chinh, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City

7. Mi Hong Jewelry - 306 Bui Huu Nghia, Ward 2, Binh Thanh District, Ho Chi Minh City

8. Kim Hung foreign currency exchange agency – No. 209 Pham Van Hai, Binh Chanh district, Ho Chi Minh City

* Information is for reference only.

Source: https://congthuong.vn/ty-gia-aud-hom-nay-1252024-nhung-yeu-to-nao-dang-tac-dong-den-dong-do-uc-319588.html