Send Currency Market Update 4th September 2023.

Last week saw some strength return to the AUD as the greenback lost some steam due to weak data and a possible rate halt. Positive signs from China also helped the Aussie recover some ground, but how long will this last? Moreover, August has ended, and the seasonal analysis of September tells us that the AUD tends to weaken towards the latter half of this month. This is something to take note of before making your trades.  

Let`s dive in for more details.

The global economy is in a state of flux at the moment. Political and economic uncertainty caused by the situation in Ukraine is leading to fluctuations in the value of different currencies. The Australian dollar is no exception.

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The US Dollar has been the main beneficiary of safe-haven flows this week as geopolitical tensions in Europe continue to escalate. The ongoing war in Ukraine and the resurgence of COVID-19 cases in China have made investors jittery, prompting them to seek refuge in the greenback.