Australian Dollar to US Dollar Forecast: 0.6637 in Three Months

Commonwealth Bank of Australia has lowered its forecasts for the Australian Dollar against the Dollar and Pound, but holds onto its view that the "next big move" in the Aussie will "be up rather than down".

The Australian Dollar can look forward to the support of a central bank that is not done hiking, according to new research.

Expect a resilient Australian economy and currency, thanks to improved trade with China and a slow pace of rate cuts at the Reserve Bank of Australia (RBA).

The Australian Dollar struggled for much of 2024 as China's post-COVID economic recovery failed to impress, and the Reserve Bank of Australia proved a reluctant hiker regarding interest rates.

"Upside ahead," says an Australian banking and capital markets giant laying out its predictions for the Australian Dollar.

The Australian Dollar will outperform the Pound in 2024 as Chinese growth picks up thanks to the government's stimulus efforts and the UK economy struggles, sending the GBP/AUD exchange rate below 1.90.

AUD is tipped to see some upside against the U.S. Dollar but should prove unable to make any major advance against the Pound in a week dominated by the U.S. Federal Reserve decision, Bank of England and Aus jobs data.

The Australian Dollar enters the first full week of December with a spring in its step with technical setups against the Dollar and Pound looking increasingly constructive, although Tuesday's Reserve Bank of Australia meeting could provide a setback.

The Australian Dollar should remain constructively poised against most of its peers in the near term and could be supported by this week's data from Australia and China.

A benign global sentiment and rising stock markets provide the backdrop for further Australian Dollar gains over the coming days.

The Australian Dollar rally risks stalling shows a new analysis from Commonwealth Bank of Australia that reveals much will now depend on the nature of a planned stimulus plan in China.

The Australian Dollar has been one of the biggest fallers among major currencies this year but downgraded forecasts from Commonwealth Bank of Australia (CBA) suggest it could fall further against some currencies and remain an underperformer in the months ahead.

GBP/AUD could have scope to test above 1.79 short-term.

The Australian Dollar can appreciate further says one of Australia's largest banks.

GBP/AUD looks to test key support on big drop that follows AUD/USD's break through 0.70 resistance.

It will be the return of Chinese citizens that offers the biggest boost to the country's export growth, which aids a bullish AUD view, says HSBC.

GBP/AUD could fall below 1.70: Rabobank, UBS sees AUD/USD upside over coming months, "We expect AUD/USD to outperform" says Barclays.

GBP/AUD is forecast to fall back to levels last seen in 2013, according to new forecasts released by Rabobank.

GBP/AUD, EUR/AUD and AUD/USD forecasts from Intesa Sanpaolo.

AUD and NZD are set to extend their decline as commodity prices prove unsupportive and a fall in global stock markets continues well into 2023.