om aud prediction | BTCC Knowledge

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Why did AUD fluctuate in 2022?

In 2022, there was a fluctuation in the price of AUD, with ongoing global crises affecting the market significantly. The RBA said that Australia had a floating exchange rate, “meaning the movements in the Australian dollar exchange rate are determined by the demand for, and supply of, Australian dollars in the foreign exchange market”.

Will AUD/NZD rise in value in 2022?

However, Citibank expects the aussie to fall against the US Dollar to 0.71 over the coming 6 -12 months. Westpac forecast that AUD/NZD will stay at approximately the same level that it is now, across 2022. Analysts at NAB predict that the Australian Dollar will rise in value against the New Zealand Dollar, reaching 1.08 by the end of 2022.

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.

What drives the Australian AUD's performance in 2023?

As mentioned, the key drivers for the AUD's performance are interest rates and inflation data. Although the RBA’s monetary policies were overshadowed by the ultra-aggressive US Fed and global recession concerns in 2022, the duration of the current Australian rate hike cycle will be critical for the AUD forecast for 2023 and beyond.

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