Australian Dollar Hits Nine-Month Low – Overview for August 17, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_1-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> Experiences Steep Decline with No Indications of Recovery.</p>

<p>The Australian dollar, in tandem with the US dollar, is experiencing a rapid and relentless descent. The current exchange rate for AUD/USD stands at 0.6393.</p>

<p>Numerous factors are contributing to the intense downward pressure on the AUD.</p>

<p>Firstly, the robust performance of the US dollar is compelling other currencies to weaken.</p>

<p>Secondly, internal <a href="https://blog.roboforex.com/blog/2019/11/07/economic-indicators-the-basis-for-forex-trading-strategy/" data-internallinksmanager029f6b8e52c="94" title="Economic Indicators">economic indicators</a> are triggering concern among investors. Australia's unemployment rate surged to a three-month high of 3.7% in July, surpassing the projected increase to 3.6%.</p>

<p>Thirdly, the transmission of negative <a href="https://blog.roboforex.com/blog/2019/11/28/signals-on-forex-where-to-search-how-to-find-filter-and-create/" data-internallinksmanager029f6b8e52c="101" title="Signals">signals</a> from China, Australia's pivotal trading <a href="https://blog.roboforex.com/blog/2021/07/30/how-to-become-a-successful-partner-of-a-forex-broker/" data-internallinksmanager029f6b8e52c="194" title="Partner">partner</a>, is exacerbating the situation. Any minor disruption emanating from China instantaneously impacts the AUD exchange rate.</p>

<p>Earlier in August, the Reserve Bank of Australia defied market expectations by keeping its annual <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> unchanged at 4.1%, instead of implementing the projected 25-basis point hike.</p>

<p>In light of these factors, the Australian dollar finds itself subjected to an unparalleled degree of pressure.</p>

<p>
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