Aussie Surge to July High Defies Forecasts; Traders Alert to RBA
Monday,07/03/2016|01:10GMTby
Bloomberg News
The Australian dollar’s climb over the past month has defied forecasts, taking it to the top of the leaderboard...
The Australian dollar’s climb over the past month has defied forecasts, taking it to the top of the leaderboard as rising commodity prices, falling Volatility and a central bank on the sidelines drive demand.
Only one of more than 50 forecasters are predicting the Aussie will strengthen in the second quarter after it climbed against all major peers since early February to reach a seven-month high on Friday. The currency retreated Monday after China’s expanded deficit target disappointed some in the market expecting a more aggressive stimulus signal from Australia’s largest trading partner, National Australia Bank Ltd. said. Traders will watch for comments from Reserve Bank of Australia Deputy Governor Philip Lowe Tuesday for signs the currency’s strength is beginning to trouble policy makers.
“It’s been a bit of a perfect storm blowing behind the Aussie in terms of tailwinds, obviously commodity prices have come roaring back with the iron ore price in particular,” said Ray Attrill, co-head of currency strategy at NAB in Sydney. “I think 80 cents would clearly be troubling, 75 cents is unwelcome but I’m not convinced we’re going to get a sharp resurrection of the rhetoric we’ve had in years past from the RBA.”
The Aussie was at 74.12 U.S. cents as of 12:07 p.m. in Tokyo, down 0.4 percent from Friday, when it touched 74.43, the most since July. It has gained 4.9 percent in the past month. The currency will weaken to 69 cents by June 30, according to the median of estimates compiled by Bloomberg. Nordea Bank was the only one anticipating further gains, forecasting 76 cents, while the remaining projections ranged from 74 to 64 cents.
RBA board member John Edwards last month told the Wall Street Journal that the Aussie was too strong and he would be more comfortable with a level around 65 cents. He added that he wasn’t confident a drop to that level would occur, according to the report.
The Aussie has climbed as the Bloomberg Commodity Index rose 3.7 percent over the past month, while the MSCI Asia Pacific Index of regional Equities strengthened 4.8 percent. The price of iron ore, Australia’s chief export, has surged about 18 percent through Friday.
To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net. To contact the editors responsible for this story: Garfield Reynolds at greynolds1@bloomberg.net, Naoto Hosoda, Tomoko Yamazaki
The Australian dollar’s climb over the past month has defied forecasts, taking it to the top of the leaderboard as rising commodity prices, falling Volatility and a central bank on the sidelines drive demand.
Only one of more than 50 forecasters are predicting the Aussie will strengthen in the second quarter after it climbed against all major peers since early February to reach a seven-month high on Friday. The currency retreated Monday after China’s expanded deficit target disappointed some in the market expecting a more aggressive stimulus signal from Australia’s largest trading partner, National Australia Bank Ltd. said. Traders will watch for comments from Reserve Bank of Australia Deputy Governor Philip Lowe Tuesday for signs the currency’s strength is beginning to trouble policy makers.
“It’s been a bit of a perfect storm blowing behind the Aussie in terms of tailwinds, obviously commodity prices have come roaring back with the iron ore price in particular,” said Ray Attrill, co-head of currency strategy at NAB in Sydney. “I think 80 cents would clearly be troubling, 75 cents is unwelcome but I’m not convinced we’re going to get a sharp resurrection of the rhetoric we’ve had in years past from the RBA.”
The Aussie was at 74.12 U.S. cents as of 12:07 p.m. in Tokyo, down 0.4 percent from Friday, when it touched 74.43, the most since July. It has gained 4.9 percent in the past month. The currency will weaken to 69 cents by June 30, according to the median of estimates compiled by Bloomberg. Nordea Bank was the only one anticipating further gains, forecasting 76 cents, while the remaining projections ranged from 74 to 64 cents.
RBA board member John Edwards last month told the Wall Street Journal that the Aussie was too strong and he would be more comfortable with a level around 65 cents. He added that he wasn’t confident a drop to that level would occur, according to the report.
The Aussie has climbed as the Bloomberg Commodity Index rose 3.7 percent over the past month, while the MSCI Asia Pacific Index of regional Equities strengthened 4.8 percent. The price of iron ore, Australia’s chief export, has surged about 18 percent through Friday.
To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net. To contact the editors responsible for this story: Garfield Reynolds at greynolds1@bloomberg.net, Naoto Hosoda, Tomoko Yamazaki
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
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Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
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In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
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He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
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Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
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-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
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-Itai Levitan, Head of Strategy at investingLive
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#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
