australian-dollar-bank-notes-calculator - AUD
  • Reopening of economies and potential covid-19 vaccine boosts risk sentiment
  • Risk on trading lifts Australian Dollar
  • US pending home sales beat forecast, consumer confidence worse than expected
  • At 14:45 UTC, AUD/USD is trading +1.6% at US$0.664 a 10-week high

The Aussie Dollar is storming ahead against its US counterpart as the risk on mood in the markets weighs heavily on the US Dollar, whilst boosting the perceived riskier Australian Dollar.

At 14:45 UTC, AUD/USD is trading +1.6% at US$0.6647. This is at the top end of the daily traded range of US$0.6538 – US$0.6652 and a level not seen since the coronavirus spilled out of China in early March.

Optimism over the global economic recovery from the coronavirus pandemic and hopes surrounding a potential covid-19 vaccine are successfully offsetting elevated US – Sino tensions that tormented investors in the previous session.

Many countries across the globe including UK, US, Iran, and Japan announced easing lock down measures at the start of the week. Australia is also marching its way through the different phases of easing lock down measures with pupils returning to schools. Beauticians, clubs, bars and restaurants will be opening in the coming weeks in some states.

As investors become more confident over the prospects of the global economic recovery, they are more prepared to invest in riskier assets and currencies, such as the Australian Dollar. Safe havens, such as the US Dollar also become less attractive.

Investors have shrugged off slightly worse than expected US Consumer confidence data, whilst upbeat US pending homes sales aided risk appetite. According to a joint survey by US Census Bureau and US Department of Housing, pending homes sales rose by 0.6% in April, against a -21.9% decline expected. This was also up sharply from a -13.7% drop in March.

Whilst the US Dollar is falling away, investors are buying into perceived riskier stock, with the S&P 500 index above the 3000 level for the first time since late February.

Looking ahead, there is little of note on the US economic calendar on Wednesday. However, Thursday sees a slew of releases including US GDP and durable goods. These figures will help investors gauge the extent of the damage caused by the coronavirus crisis. Meanwhile initial and particularly continuing jobless claims could give clues as to the rate of recovery. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.