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Euro (EUR) Reverses Gains against Australian Dollar (AUD)

  • Single currency appeal reduced by continuing Greek unrest
  • EC President Tusk seesaws over focusing on Greek debt issue
  • Australian Dollar makes steady recovery after previous dive in performance
  • German inflation rate stats incoming

The Euro (EUR) has lost out overall against the Australian Dollar (AUD) and its other peers today, with losses potentially stemming from unsolved issues in the Greek debt crisis.

The Australian Dollar has not managed to entirely recover from its spectacular losses seen previously, but has nonetheless been positive against a majority of its competitors.

Eurozone News: U-Turn from EC President on Greek Meeting Panics Investors

The Euro (EUR) has been an uncertain option for investors today, having fallen by -0.2% against the Swiss Franc (EUR/CHF) and by -0.3% against the Australian Dollar (EUR/AUD). The greatest loss has been by -2.6% against the Japanese Yen (EUR/JPY), although gains of 0.2% against the US Dollar (EUR/USD) and the South African Rand (EUR/ZAR) have also been recorded.

While the Euro has been supported somewhat by the number of unemployed persons in Germany falling in April, events surrounding Greece have failed to inspire long-term confidence in the single currency.

Despite earlier rejecting an appeal from Greek PM Alexis Tsipras to hold an EU summit on the Greek debt crisis, European Council President Donald Tusk has since given in to the gravity of the situation and stated in a social media update:

‘We have to avoid situation of renewed uncertainty for Greece. We need date for Eurogroup meeting in not distant future. In days, not weeks.’

Australian Dollar (AUD) Rallies after US Interest Rates Remain on Hold

The Australian Dollar (AUD) has staged a recovery against the Euro (EUR) and other peers, having been pushed upwards by the continued reluctance of the Federal Open Market Committee (FOMC) to raise the US interest rate.

Having declined universally yesterday, the ’Aussie’ has managed to make advances of 0.2% against the Canadian Dollar (AUD/CAD) and the Euro (AUD/EUR) and 0.5% against the US Dollar (AUD/USD).


Future EUR, AUD Forecast: Eurozone Confidence and Australian Credit Stats on the Way

The next notable releases likely to affect the Euro (EUR) will be the Eurozone confidence results for April, along with the German inflation rate results for April, which are due this morning and afternoon, respectively.

In the former case, forecasts are generally optimistic, although the same cannot be said for the latter.

The next Australian data to watch out for will be tomorrow’s early private sector credit result on the year in March, expected to reprint at 6.6%.

Current EUR, AUD Exchange Rates

The Euro to Australian Dollar (EUR/AUD) exchange rate was trending in the region of 1.4847 and the Australian Dollar to Euro (AUD/EUR) exchange rate was trending in the region of 0.6738 today.