Pacific Exchange Rates Report for November 24th – 28th

By: Patrick Gorman, The Quinnipiac University Global Economics Research Team

Pacific Currencies Index

Source: Eurostat and own calculations. Exchange rates are inverted to be USD per local currency (i.e., an increase indicates a stronger domestic currency) and then indexed to be 100 at the start of the period.

For the week of November 24^th – November 28^th, all of the pacific currencies fell. All currencies steadily ticked down throughout the week with the New Zealand Dollar (blue) falling the most ending the weak 1.9% weaker. The next largest faller on the week was the Australian Dollar (green) which ended just over 1.2% weaker, The South Korean Won (red) fluctuated throughout the week and ended about .3% weaker on the week and the Japanese Yen (maroon) ended similar finishing the week .4% weaker.

Pacific Historical Trends

Source: Eurostat and own calculations. Exchange rates are inverted to be USD per local currency (i.e., an increase indicates a stronger domestic currency. The center line is a rolling three-month average. The upper and lower boundaries are the average plus and average minus one standard deviation, respectively, for the same three-month period.

For the week of November 24^th – November 28^th, all currencies fell following a strong week. The New Zealand Dollar (NZD) experienced the largest drop falling to early November levels after reaching 3-month highs last week. The South Korean Won (KRW) and the Japanese Yen (JPY) both slightly fell remanning close to the previous highs. The Australian Dollar (AUD) experienced a large drop falling to levels in which it was at in early September and November.

Additional Reading

Australian Dollar Outlook: AUD/USD 6-Day Rally Into AU GDP, US Data Deluge

This article goes in depth on the Australian Dollar, talking about upcoming global and domestic news that could have an effect on the currency. It also provides a technical analysis of the Australian Dollar versus the US Dollar.