2013 Federal Budget: Australian Dollar
The Bottom Line:
2013 Federal Budget
How will the Federal Budget affect your business?
CommBank experts provide their post Budget analysis in a series of online video commentaries covering the crucial issues facing Australian businesses. For further detail download our full Federal Budget 2013 report and view our infographic here.
When it comes to understanding the Federal Budget, we’ve got the bottom line for your business.
Their take on the budget
The AUD has recently fallen against the USD in line with other major currencies on speculation that the US would wind back its quantitative easing earlier than expected. Currently the AUD sits at 0.9920 which is after a 0.50 fall immediately following the budget. This is lower than the budget assumption and our view on the currency, both of which forecast the average rate at 1.03. As such we expect the current level is temporary.
Joseph Capurso – Currency Strategist and International Economist
A key member of our currency research team, Joseph has been forecasting trends in economies and financial markets – and their implications for currencies – for seventeen years. He began his career in The Treasury's international and macro-economic divisions, going on to join the economic division of the Prime Minister’s Department, before joining us in 2005.