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.
Since the start of the year, all 4 major banks have changed their 2019 Australian Dollar Forecast. There is a wider gap now in their AUD/USD predictions for the end of the year.
NAB is now forecasting the AUD/USD to be higher at 0.7500 in December, while Westpac has it moving down to 0.6600.
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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 below CBA'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, increasing the chance of interest rate cuts from the RBA
- China’s economic growth slows more than expected, lowering demand for our commodities (and our Aussie dollar)
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 May 2019
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.
- The most optimistic is NAB, with an expectation that the AUD will gradually rise towards 75 cents by the end of the year.
- In 2019, CBA is also expecting the AUD to gradually rise and end the year at 72 cents.
- Westpac expects the AUD to fall even more to 66 cents by the end of 2019.
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Where to find the best AUD to USD cash rate
In Australia, the best cash rates are found in major cities.
We regularly check the main money changers in each CBD to find out the best exchange rates in town.
How to track down the best rate
You can either walk around to each money changer, try and call each one and check their rate or you can use our city and suburb guides: