AUD/USD to drift higher over coming year, reaching 0.73 by end-2024 – NAB

AUD/USD is currently trading around 0.63 and at times lower. Economists at National Australia Bank analyze the pair’s outlook.

One further increase in the cash rate to a peak of 4.35%

For rates, we continue to see the Reserve Bank of Australia (RBA) hiking a further 25 bps in November, before staying on hold until the second half of 2024.

We continue to see the AUD/USD pair ending the year at around 0.66 before tracking higher over 2024 – ending 2024 at around 0.73.