Since April 2, when the Reserve Bank of Australia announced a pause in interest rate hikes, the Australian dollar exchange rate has soared instantly, but since then it has returned to the downward trend. The Australian dollar exchange rate has been on a "roller coaster", causing many friends to be worried about whether it will continue to decline.

Source: Sina Finance

Fortunately, since April 10, the Australian dollar exchange rate has been in a volatile rise, showing a slight rebound, and it is even expected to "make great progress all the way" in the future.

Why did the AUD exchange rate "bounce back"?

The US Dollar Index Fell Endlessly

At present, the cards held by the United States are not ideal, and the market fluctuates greatly.

As is well known, the previous bankruptcy of Silicon Valley Bank in the United States triggered a banking crisis, and a series of bank failures brought risks to financial stability.

Although the Federal Reserve has raised interest rates nine times in a row, the current monetary policy in the United States does not meet market expectations. Combined with changes in US retail and inflation data, as well as the tightening credit environment caused by the banking crisis, the US dollar index has continued to decline, hitting a new low in nearly a year and gradually trapped in economic recession.

As the US dollar slows down, it becomes a driving force for the Australian dollar to move upwards.

Australia's Domestic Economy is Relatively Stable

The Australian dollar is gaining support from optimistic labor employment data, showing an upward trend, and market sentiment turns to be good.

According to the latest economic data released by the Australian Bureau of Statistics, Australia's unemployment rate in March this year remained at a low point of 3.5%, maintaining a historical low. Throughout March, Australia added 53,000 jobs, with a total workforce of 13.88 million and a labor participation rate of 66.8%.

This set of data sends a signal that Australia achieved a stable performance while at the same time securing progress in its employment outlook. The higher the employment rate, the more wealth that is created, and the faster the economy recovers.

Moreover, the suspension of interest rate hikes by the Reserve Bank of Australia marks the end of tightening monetary policy, which to some extent alleviates the cost of living pressure on borrowers.

Sino Australian Trade Cooperation Enjoys Broad Prospects

With the recovery of China-Australia relations, major breakthroughs in trade will inevitably promote Australia's economic recovery.

Some important events and the Australian dollar are highly integrated with a mutual stake. As China and Australia become trading partners, the pace of economic recovery in Australia has accelerated. The Australian dollar exchange rate has naturally risen in response!

On the one hand, with relatively low inflation, China will further introduce policies to stimulate economic recovery, which is conducive to the export of Australian bulk commodities such as wool, cotton, iron ore, and meat.

On the other hand, China's visit to Australia has resumed its friendly economic and trade exchanges. Trade disputes between China and Australia are being properly resolved, and barriers to exports such as agricultural products to China will be gradually lifted.

These positive factors will be transmitted to the economic fundamentals of Australia, becoming a strong support for the rise of the Australian dollar exchange rate.

The Australian dollar exchange rate really showed what is called "ups and downs"! However, the downturn is temporary. The current Australian dollar exchange rate situation is stable, showing a slow recovery trend and is expected to rise further in the future.

Here, Panda also reminds friends that the exchange rate may change at any time. People who have a demand for exchange, remember to pay close attention to domestic and foreign exchange rate markets in a timely manner to reduce the impact of exchange rate fluctuations.

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