The Euro to Australian Dollar (EUR/AUD) exchange rate has been tentatively positive so far today, although against a bulk of their peers, neither currency has managed to fare particularly well.
EUR/AUD Exchange Rate News: Sliding German Confidence Adds to Continued Caution in Aftermath of Brussels Attacks
The Euro (EUR) has generally been an unappealing prospect so far today, on account of a shortage of Eurozone data leaving the lingering damage of Tuesday’s Brussels’ attacks in the minds of investors.
Domestic data offerings have mainly consisted of Germany’s consumer confidence score for April, along with the import prices on the year for February. In the former case, a decline from 9.5 to 9.4 has been recorded, while in the latter a more positive development has been seen, with import prices falling.
Additionally, the most recent ECB bulletin has seen downward revisions of both growth and inflation forecasts.
The biggest limiter on Euro movement, however, continues to be the March 22nd attacks, which sent shockwaves throughout Europe and put investors squarely on the defensive on account of the possibility that another attack could be imminent.
Euro gains today have included 0.5% against the Australian Dollar (EUR/AUD) and 0.8% against the South African Rand (EUR/ZAR), while losses have been made up of a small decline against the US Dollar (EUR/USD) and limited movement elsewhere.
Australian Dollar (AUD) Slides Today on Pessimistic Forecasts for Future Movement
The appeal of the Australian Dollar (AUD) has been waning recently, mainly on account of a lack of data exposing widespread concerns held over the near-term prospects of the Australian currency. This comes in contrast to last week’s concerns regarding the wider Australian market.
These concerns have originated from the US, where the Treasury Department has voiced its concern over jawboning attempts made by Reserve Bank of Australia (RBA) officials to ‘talk down’ the Australian Dollar.
In response to the statement, RBA Governor Glenn Stevens has stated that the central bank was not known for utilising irregular monetary policies, unlike the Federal Reserve, the Bank of Japan (BoJ) and the European Central Bank (ECB).
The Australian Dollar has fallen by -0.5% against the Euro (AUD/EUR) and the Chinese Yuan (AUD/CNY) today.
EUR/AUD Exchange Rate Forecast: Italian Ecostats may Generate Fluctuations
With tomorrow essentially seeing a cessation of economic activity due to Good Friday, today still holds the Italian monthly and yearly retail sales results for January. Forecasts have been for growth in both fields.
Current EUR, AUD Exchange Rates
The Euro to Australian Dollar (EUR/AUD) exchange rate was trending in the region of 1.4900 and the Australian Dollar to Euro (AUD/EUR) exchange rate was trending in the region of 0.6714 today.