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- AUD/USD rises to near 0.7230 as the Australian Dollar trades broadly firm.
- RBA’s Hauser stresses bringing inflation down.
- Investors await the US CPI data for August scheduled for Friday.
The Australian Dollar (AUD) is higher against its major currency peers, except the Japanese Yen (JPY), on Wednesday, trading 0.16% up at around 0.7230 against the US Dollar (USD) during the European session.
Australian Dollar Price Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.11% | -0.11% | -0.54% | -0.08% | -0.23% | -0.12% | -0.17% | |
| EUR | 0.11% | 0.01% | -0.46% | 0.02% | -0.12% | -0.00% | -0.05% | |
| GBP | 0.11% | -0.01% | -0.46% | 0.03% | -0.11% | -0.00% | -0.05% | |
| JPY | 0.54% | 0.46% | 0.46% | 0.47% | 0.32% | 0.40% | 0.39% | |
| CAD | 0.08% | -0.02% | -0.03% | -0.47% | -0.15% | -0.04% | -0.08% | |
| AUD | 0.23% | 0.12% | 0.11% | -0.32% | 0.15% | 0.11% | 0.08% | |
| NZD | 0.12% | 0.00% | 0.00% | -0.40% | 0.04% | -0.11% | -0.03% | |
| CHF | 0.17% | 0.05% | 0.05% | -0.39% | 0.08% | -0.08% | 0.03% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
The antipodean gains were on the back of remarks from Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser in an interview by the ABC on Tuesday, where she stressed bringing inflation down.
“People want inflation down. People are furious about inflation. I understand why,” Hauser said and added, “It’s unfair. It hits people on low incomes. It damages price signals. It makes the job of companies difficult. What they want us to do is our job and bring inflation down,” Financial Review reported.
Comments from RBA’s Hauser stressing the need to bring inflation down have increased central bank’s interest rate hike expectations.
Rabobank notes that the RBA has “just saw Hauser give a hawkish speech, which has markets thinking of hikes this month and in November.” The bank adds that this prospective tightening path is “very much what the US Treasury would like to see – plus a lot more action on non-housing parts of the economy,” underscoring how a more restrictive RBA stance is increasingly aligned with US policy preferences.
Meanwhile, the US Dollar is under pressure, with investors awaiting the United States (US) Consumer Price Index (CPI) data on Friday.
AUD/USD Technical Analysis
In the daily chart, AUD/USD trades at 0.7229, extending its advance above the 20-day exponential moving average (EMA) at 0.7158 and keeping a clear short-term bullish bias. The pair holds comfortably above this dynamic support, suggesting dips may be shallow for now, while the Relative Strength Index (RSI) at 69.5 hovers just below overbought territory, hinting that upside momentum is strong but increasingly stretched.
On the downside, the 20-day EMA at 0.7158 is the first notable support, and a daily close below it would hint at a deeper corrective phase. On the upside, the pair is expected to extend its advance to near the four-year high at 0.7277.
