AUD is in a sideways trend. Overview for 13.02.2024

The Australian dollar, paired with the US dollar, continues to hover. The current AUDUSD exchange rate stands at 0.6520.

According to today's data, business conditions in Australia have improved, with consumer confidence reaching a 20-month high. January's NAB business environment index came in at 6 points, below the long-term average. Business confidence improved, reaching 1 point compared to the previous zero value.

The market believes that interest rates will remain high for most of the year. However, there are concerns about price pressures amid significant global uncertainty.

According to Westpac observations, consumer sentiments have stabilised, with the indicator rising to 86 points. However, it must surpass 100 points to confirm the transition to robust optimism.