Why is Australia's dollar surging even while the economy hurtles towards recession?

Cotton futures and sugar futures made strong gains on Monday, and oil prices have been recovering from their recent lows.

"The COVID-19 pandemic likely still has a few twists and turns that will call that optimism into question," Gorey explains. The fact that Australians can't travel overseas at the moment is another reason why the dollar has been strengthening. Moreover, with Australia being one of the most successful countries so far at containing coronavirus, it only cements the nation's status as a safe and desirable destination to visit — once foreigners are again allowed to.The surge in commodity prices has seen Australia's trade position post extremely rare numbers.

I remember when it was above parity, it's plummeted,and it really doesn't speak to the global or Australian economy because everything is so volatile. Nothing to get excited about

It's like the Australian dollar is doing a Steven Bradbury

Would you like ME to answer this question? Mind you, it's really all guesswork so my answer will be just as valid as yours.

Quickly buy assets pegged to the USD as they get cheaper...

AUD - the South East Asian Peso

More buyers than sellers

The dollars up? Well I guess blowing up an ancient Aboriginal site was all OK then?

So the Chinese Govt really does still need us and our resources

ain't you as a news service supposed to answer questions not ask them?

What matters right now is why do so many not have enough to pay rent, the bills and bread for their kids - why are those expenses getting a lot harder to meet?

It just fell too much. It has historically been around the 70 to 75 cent mark

Because EVERYONE’S economy is stuffed...?

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