Why did the Australian exchange rate fall?

From an economic point of view, the Australian dollar is a commodity currency-if the price of resource-based means of production in the world rises, the exchange rate of the Australian dollar will also rise, and vice versa.

Commodity currencies are highly speculative, so the fluctuation and flexibility of the Australian exchange rate are also great. If we can grasp it well, it is possible to make a profit, hehe ~ ~

Recently, the world oil price has been falling continuously, from nearly $90 to $70 per barrel, which is relatively large and short-lived. Therefore, it is normal for the Australian dollar to fall accordingly.

In addition, Australia itself is a big exporter of oil, natural gas, iron ore and other production resources. As the prices of these means of production fall on major exchanges around the world, there is a basis for the Australian dollar exchange rate to fall.

Although the domestic economic situation in Australia is still good and the Australian dollar interest rate is very competitive, I estimate that the decline of the Australian dollar exchange rate will be temporary and should not last long.

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