Will AUD outperform commodity currencies in 2023?

According to NAB, the AUDUSD rate will be approximately 70 cents by mid-year 2023. According to NAB, the AUD will reach 0.72 to the US dollar by June 2024. According to the research group, the AUD will outperform commodity currencies in 2023, with the dollar dominance fading as global inflation controls.

Will the AUD/EUR rate stabilise in 2023?

However, economists are expecting the AUD/EUR rate to stabilise throughout the rest of 2023. NAB's Australian dollar forecast is predicting the AUD to trade at 0.63 EUR for the rest of 2023, while the Commonwealth Bank is also expecting minimal change to the AUD/EUR rate.

How will the Aud perform in the future?

It's extremely difficult to predict how any currency pair will perform in the future. Inflation, interest rate hikes and the threat of a recession all have the potential to impact currency values here and overseas, while economic developments in China can also have a significant effect on the AUD's performance.

Is the AUD/USD exchange rate in agreement with the Big Four?

Other banks in the Big Four were in agreement, with Westpac forecasting the AUD/USD exchange to reach 0.70 by June 2023. That view was optimistic, with the exchange rate coming in at 0.66 as of July 7. In July, the Australian dollar steadied around $0.667 despite the RBA voting to hold the cash rate steady at its July Board meeting.