4 Expert Australian Dollar Forecasts for 2019 Compared

Forecasts for the Australian Dollar from bank experts are revised throughout the year. This article looks at the different outlooks and is updated regularly.

In a recent survey of economists by the Australian Financial Review, only 9 from 25 economists forecasted the Australian dollar to be under 70 cents half way through 2019.  These forecasts came a day before the AUD/USD hit a 10-year low of 0.6730.

Compare Australian Dollar Forcasts

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Australian Dollar predictions

In 2018 the Australian dollar tumbled faster than expected, and all the banks dropped their year-end AUD forecasts to reflect a change in expectations.

 

Since the start of 2019, the Australian dollar has fallen below 70 cents to hit a 10-year low of 0.6871.

Updated in January 2019

Will the Aussie Dollar go up?

The banks appear divided on where the AUD will be by the end of 2019. With the current AUD trading just slightly below CBA's, ANZ's and NAB's expectations, will the ‘Big 4' banks hold on to their current forecasts? Potentially.

Let's examine the 3 most likely reasons the Aussie will remain weak at current forecast levels:

  • The US economy picks up, US political risks ease, and their central bank increases interest rates, supporting the USD
  • The Australian economy falters and inflation only slowly and gradually picks up, decreasing the risk of interest rate hikes from the RBA
  • China’s economic growth slows more than expected, lowering demand for our commodities (and our Aussie dollar)

Australian Dollar long term forecast

The major banks changed expectations for the AUD in 2018 and this has spilled over in 2019. Now the banks outlooks for 2019 are still negative, with most of them expecting a flat to lower trend by the end of the year.

  • ANZ bank is just as negative in 2019, with the AUD expected to decline mid-year before rising to 70 cents by the end of the year.
  • The most optimistic is CBA, with an expectation that the AUD will gradually rise towards 75 cents by the end of the year.
  • In 2019, NAB is also expecting the AUD to gradually rise and end the year at 75 cents.
  • Westpac expects the AUD to rise slightly to 73 cents by the end of 2019.
Compare international money transfer exchange rates

The best deal for you

TransferwiseRead ReviewTotal (USD)$7,115.04Exchange Rate0.7146Transfer Fees$43.32Transfer Time1-2 DaysLearn MoreTotal (USD)$7,115.04Rate Updated less than 2 mins ago
So, sending 10,000 AUD to the United States comes to $7,115.04 including $43.32 in fees
GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,115.04 including $43.32 in fees

About TransferWise

Transparency and an easy online experience are the 2 things that set TransferWise apart from the banks and other money transfer companies. If you prefer to bank online, you'll like TransferWise. Setting up an account and making a transfer is very easy. They are also very clear on the exchange rate and fees you'll pay before you make a transfer. Click here for the full review

Pros

  • Clear and transparent exchange rates fees
  • The online experience is first class
  • Like the banks, they are regulated by ASIC and registered with AFSL
  • Constantly bringing out new innovative products

Cons

  • There are currently a number of global currencies they do not currently support
  • Limited support based in Australia
  • Percentage based fee can add up on very large transfers

More trusted money transfer options

Provider Exchange Rate Transfer Fees Transfer TimeTotal (USD) Rate Updated less than 2 mins ago
TorFXRead ReviewTotal (USD)$7,110.27$4.77 more expensive Exchange Rate0.7110 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $7,110.27$4.77 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,110.27 with no fees.

About TorFX

TorFX are particularly good taking care of customers over the phone but using their website isn't the easiest to use. They don't charge a flat fee which is great but it's important to consider their exchange rates. While, they don't offer fantastic rates for small amounts under $2000 , TorFX offer exceptionally good exchange rates for larger transfers to the UK, New Zealand, South Africa and Europe.

Pros

  • No transfer fees
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  • Secure transfers with authorised
  • Assigned account manager
  • 24 / 7 Assistance
  • Available range of transfer options

Cons

  • Limited exotic currencies available
  • Exchange rates on small transfers aren't great
  • Website experience could be better
XERead ReviewTotal (USD)$7,104.55$10.49 more expensive Exchange Rate0.7105 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $7,104.55$10.49 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,104.55 with no fees.

About XE

XE is a well known and trusted name in the money transfer industry. With over twenty years experience, they now help 33,000 people and 2,000 businesses make transfers each year. Over 60 currencies can be transferred with XE and they pride themselves on the free tools and transparent rates they offer. Click here to read the full review

Pros

  • Well known and trusted brand.
  • Very informative website. Extensive information on currency and money transfers.
  • XE App is available on both iOS and Android. It allows you to see the interbank rate for over 100 currencies.
  • XE themselves charge no fees for international money transfers.
  • Offers support for both individuals and businesses when it comes to international money transfers.

Cons

  • Cannot pay via cash or cheque. Must pay via bank transfer, BPay is also accepted in Australia.
  • Maximum transfer amount is $500,000USD.
  • While XE compares more than 100 currencies, there are only 60 that are available for money transfers.
WorldFirstRead ReviewTotal (USD)$7,103.12$11.92 more expensive Exchange Rate0.7103 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $7,103.12$11.92 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,103.12 with no fees.

About World First

World First was founded in 2004 in the UK and has grown rapidly with offices now in the U.S., Canada and throughout Asia. They consistently receive strong customer reviews and in a recent study, 98% of their clients said they would use them again.World First have a strong online offering, particular for businesses selling online. They do provide local support as well with offices in Sydney. Click here to read the full review

Pros

  • No fees and great exchange rates
  • Safe and secure transfers
  • Regulated by ASIC and registered with AFSL
  • Great for personal and business payments

Cons

  • Does not accept BPAY, credit card, cheque or cash
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WorldRemitRead ReviewTotal (USD)$7,064.28$50.76 more expensive Exchange Rate0.7067 Transfer Fees$3.99 Transfer Time1-2 DaysGet discounted rate $7,064.28$50.76 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,064.28 including $3.99 in fees

About WorldRemit

WorldRemit are particularly good for transfers under $10,000 to destinations across Asia, Africa and South America. Sending money online is significantly easier than using companies like Western Union or Moneygram and their exchange rates and fees are clear and transparent. With 2 million users, WorldRemit has a focus on improving access to remittances for the billions people worldwide who don’t have access to banking. Because of this, WorldRemit has a number of ways to both make and receive transfers. They concentrate on servicing individual needs as opposed to businesses. Click here for the full review

Pros

  • They have a great network in Asia and Africa and number of receiving options like cash-pick up or bank transfer.
  • They are clear about their exchange rates and fees
  • No minimum amount

Cons

  • Maximum transfer sizes for every transfer
  • No support for business customers
  • They are not licensed to provide financial advice.
OFXRead ReviewTotal (USD)$7,000.48$114.56 more expensive Exchange Rate0.7011 Transfer Fees$15.00 Transfer Time1-3 DaysGet discounted rate $7,000.48$114.56 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,000.48 including $15.00 in fees

About OFX

OFX (formally known as Ozforex) is the largest Australian owned money transfer company. It launched in 1998 and grew rapidly until finally listing on the Australian Stock Exchange in 2013. OFX excels in 2 areas – Online experience and customer service. The company was born online and continues to develop easy, intuitive products. While OFX customers do most of their transactions online, they are backed up with exceptional customer service.

Pros

  • Better exchange rates compared to banks
  • Highly safe and secure transfers
  • 1 - 2 days delivery times for most countries
  • Quick response time
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Cons

  • Credit cards, cheques and cash are not accepted
  • Transfers to Thailand can take up to 4 days
  • Fees for transfers smaller transfers
ANZRead ReviewTotal (USD)$6,852.00$263.04 more expensive Exchange Rate0.6852 Transfer Fees$0.00 Transfer Time1-2 DaysGet discounted rate $6,852.00$263.04 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $6,852.00 with no fees.
ANZ International Money Transfer is a secure and fast way to transfer money overseas.

Pros:

  • Fast transfers
  • Safe and secure
  • No fee for transfers under $10 000 via Internet banking

Cons

  • $12 fee for transfers under $10 000 via Internet banking
  • Poor exchange rates
  • 24 hour hotline not available
Commonwealth BankRead ReviewTotal (USD)$6,716.93$398.11 more expensive Exchange Rate0.6725 Transfer Fees$12.00 Transfer Time1-2 DaysGet discounted rate $6,716.93$398.11 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $6,716.93 including $12.00 in fees
Commonwealth Bank provides secure and easy transfers to over 200 countries and more than 30 currencies.

Pros:

  • Fast transfers+ Easy transfers
  • Security guarantee covers any losses from unauthorised transactions

Cons

  • $6 fee for transfers under $1000 via Internet banking
  • $12 fee for transfers under $1000 via Internet banking
  • Poor exchange rates
Take into account that we have not compared absolutely every bank and company in Australia. We compare the large, safe and reputable banks and foreign exchange companies that we have already researched, tested and approved. We also may receive a referral fee if you choose one of these banks or companies, but that wont affect the exchange rates or fees you get.

General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.