Theoretically you can trade forex pairs 24/7, but there are prime times to trade the AUD/USD when the currency pair is more volatile. The Aussie dollar to US dollar trading hours are generally busy between between 19:00 and 04:30 (GMT).
What are the regulated trading hours for the Australian foreign exchange market? There are no set daily trading hours for the foreign exchange market, which can operate 24 hours a day. Normal trading commences from 5.00 am (Sydney time) on Monday and closes at 5.00 pm (New York time) on Friday.
AUD/USD Scalping Trading Strategy
Scalping technique is a trading strategy where trading is done at lightning speed. Here, profits are made from small price changes and are done in quick successions and when an opportunity lasts. For the AUD/USD currency pair, fast trading is one of the methods that work best.
AUD/USD forecast: Price target for 2022-2025
It expected AUD/USD to trade at 0.63 in Q4 2022 and rise to 0.64 in Q1 2023.
Australian Dollar to US Dollar Long-Term Forecast
Looking further ahead, Westpac is forecasting an AUD/USD exchange rate of 0.76 by June 2024 and NAB is predicting AUD to be 0.78 to the US dollar by June 2024.
This is the Australian Dollar (AUD) to US Dollar (USD) exchange rate history data page for the year of 2023, covering 168 days of AUD USD historical data. Best exchange rate: 0.7151 USD on 28 Jan 2023. Average exchange rate in 2023: 0.6764 USD. Worst exchange rate: 0.6505 USD on 25 May 2023.
Australian dollar predictions in 2023
ANZ, CBA, NAB and Westpac expect the Australian dollar to average 70 cents against the US dollar in 2023, with no year-on-year average change in exchange rates.
Predictions and Australian Dollar to US Dollar exchange rate forecasts from market pricing sources, investment banks and technical analysts. In one month the Australian Dollar / US Dollar exchange rate could be at 0.6889 according to market pricing as of 16/06/2023.
The Aussie dollar can continue its strong run so far in 2023, says Westpac senior currency market strategist Sean Callow, lifted by the prospect of more RBA interest rate hikes and an improving growth outlook in top trade partner China.
Historically, the Australian Dollar reached an all time high of 1.49 in December of 1973. Australian Dollar - data, forecasts, historical chart - was last updated on June of 2023.
The U.S./London markets overlap (8 a.m. to noon EST) has the heaviest volume of trading and is best for trading opportunities. The Sydney/Tokyo markets overlap (2 a.m. to 4 a.m.) is not as volatile as the U.S./London overlap, but it still offers opportunities.
The forex market opening time in India is from 9.00 a.m. to 5.00 p.m., with cross-currency trade continuing till 7.30 p.m. However, liquidity and variability are not always consistent over India's currency market hours.
Scalping is one of the most popular strategies. It involves selling almost immediately after a trade becomes profitable. The price target is whatever figure means that you'll make money on the trade. Fading involves shorting stocks after rapid moves upward.
This includes geographical factors such as the production of commodities (coal, iron ore, copper) in Australia, political factors such as the business environment in China (a major customer for Australian commodities), and interest rate influences.
Australian dollar - US Dollar Volatility by Day
The most volatile day is Friday (99 points or 1.44%). The least volatile day is Thursday (79 points or 1.15%).
The best time to trade USD is around 8am ET (UTC –5) to 12pm ET (UTC –5). This is when most US economic data is released.
In addition, uncertainty around international trade, geopolitical tensions, the US debt ceiling and the US banking collapse have caused investors to move away from riskier assets like the AUD. This combination of factors has caused the Australian dollar to be weaker than its peers in recent months.
If foreign investors purchase more Australian assets, more money flows into Australia. This leads to increased demand for Australian dollars. In addition, if Australian or foreign investors prefer to hold more Australian assets than otherwise (rather than purchasing overseas assets), less money flows out of Australia.
The US bank forecasts the Aussie will rebound to US73¢ in the final three months of 2023, to US75¢ in the first quarter of 2024 and to reach US77¢ in the June quarter of 2024.
Over the past 12 months, the Australian dollar has gained strength (a whopping 65%) against the Argentine Peso, while gains have been made against the Chinese Yuan and Japanese Yen. Take advantage of the highly competitive exchange rate and buy foreign currency before your trip.
The 2023 Outlook for Major Currency Pairs
EUR/USD is predicted to reach 1.10 in March 2023, before declining to 1.08 September 2023 and holding at 1.08 in December 2023. USD/JPY is expected to hit 135 in March 2023, before trading at 133 in June 2023, 130 in September 2023 and 128 in December 2023.
HSBC Downward Revision to 0.72 by End-2023, Yet Room for Modest Recovery in 2024. HSBC has revised its year-end forecast for the AUD/USD exchange rate downwards to 0.72. This reflects the complexities surrounding the AUD, including subdued export prospects and a less aggressive RBA.
Australia Official Rate: Period Average: National Currency per USD data was reported at 1.442 USD/AUD in 2022.
What will be USD to INR Rate in 2025? Long Forecast's USD to INR forecast 2025 suggests the start of the year around 79.79 Rupees. It expects the currency pair to average at 80 Rupees by mid-year before rallying further to 86.97 Rupees by the end of the year.