The team at ANZ examined seasonal patterns and has noted that the Australian dollar has the best performance against the USD during the month of October.
Here is their analysis:
Here is their view, courtesy of eFXnews:
“Among the G10 currencies, the AUD has the best historical performance against the USD during the month of October. It has appreciated in 11 out of the last 15 years during the month, with an average percent spot gain of 0.9%. The median spot gain is higher at 1.9%.
This is because the average spot returns were dragged lower by the 15.7% drop in the AUD/USD in October 2008, when the global financial crisis was in full swing. If we exclude that year, then the average spot gain is an impressive 2.1%.
None of the other G10 currencies, nor any of the Asian currencies, have shown any strong historical trends during October.”
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