The Australian Dollar added 0.0021 points or 0.27% to 0.7659 against the US Dollar on Monday. Sentiment was buoyed as official data showed new housing loan approvals in Australia rose by 8.6% mom in December and 31.2% yoy, while job advertisement rose for an eighth straight month in January to levels last seen in April 2019. Meantime, investors continue to monitor ongoing fiscal stimulus negotiations as US senators urged President Joe Biden on Sunday to significantly downsize his sweeping $1.9 trillion COVID-19 relief package to win bipartisan support, while Democrats in Congress are prepared to push ahead with his plan this week.
Historically, the Australian Dollar reached an all time high of 1.49 in December of 1973. Australian Dollar - data, forecasts, historical chart - was last updated on February of 2021.
The Australian Dollar is expected to trade at 0.76 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.75 in 12 months time.