Australian Dollar (AUD)

QUOTE AND NEWS
The Economic Times  2 hrs ago  Comment 
The Bengaluru-based firm had inked a pact to acquire 51 per cent stake in Australia's Generic Partners Holdings Co for AUD 15 million and a commitment of AUD 10 million to fund future R&D.
newratings.com  3 hrs ago  Comment 
CANBERA (dpa-AFX) - The Australian dollar weakened against most major currencies in the pre-European session on Wednesday. The Australian dollar fell to 2-week lows of 1.4700 against the euro and 1.0509 against the NZ dollar, from early highs of...
WA Business News  11 hrs ago  Comment 
The Australian dollar is lower against its US counterpart after the greenback strengthened following earlier losses and the Reserve Bank minutes failed to give clear direction.
Forex News  Aug 16  Comment 
The Australian dollar demonstrated mixed performance after the release of RBA policy minutes earlier during the Tuesday’s trading session. The currency rallied against the US dollar (though has trimmed its gains as of now) but fell...
newratings.com  Aug 16  Comment 
CANBERA (dpa-AFX) - Reversing direction, the Australian dollar declined against the euro, U.S. and Canadian dollars in New York trading on Tuesday. Retreating from an early 5-day high of 0.7749 against the greenback, the aussie fell back to...
WA Business News  Aug 15  Comment 
The Australian dollar has risen slightly ahead of the release of official minutes from the Reserve Bank board's August interest rates meeting.
WA Business News  Aug 14  Comment 
The Australian dollar has fallen against the US dollar, despite initially bouncing on disappointing US economic data.
Forex News  Aug 12  Comment 
The Australian dollar halted its rally versus its major rivals with the exception of the US dollar, against which the Aussie continued to rise. Today, moves of the Australian currency were driven mainly by news from China. Bunch...
Forex News  Aug 11  Comment 
During the current trading session, the Australian dollar followed the moves its New Zealand counterpart, jumping intraday but trimming the gains later. The Aussie demonstrated basically the same performance as the kiwi during...
newratings.com  Aug 10  Comment 
CANBERA (dpa-AFX) - The Australian dollar climbed against the other major currencies in the European session on Wednesday, after the Reserve Bank of Australia Governor Glenn Stevens cautioned on relying ultra-low interest rates to boost growth, as...




RELATED WIKI ARTICLES
 

The Australian Dollar (also known as "Aussie" [1]) is the currency of the Commonwealth of Australia. It is denoted with a leading $, though in an international context the $ is often appended to an "A" or "AU" to distinguish the currency from other dollars. For example, within the nation of Australia $27 is read "twenty-seven dollars," while in an international context the same value might be written AU$27 and read "twenty-seven dollars, Australian".

The chart at left shows the USD/AUD currency pair; the number of Australian Dollars equivalent to 1 U.S. Dollar (USD).

Forex Trading [1]

Trading Hours

The most active AUD trading hours are from Tokyo Open (7:00PM ET / 0:00 GMT), AUD Economic Releases (7:30AM ET / 0:30 GMT) and U.S. Economic Releases (8:30AM ET/ 13:30 GMT).

Things to know when Trading the Australian Dollar (AUD)

The chart below showcases the relationship between gold and AUD/USD. Australia happens to be one of the biggest producers of gold; therefore, gold prices have an impact on the pair.

Nickname – The only nickname for the Australian dollar is the Aussie which is a shortened version of the name.

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The 10 year chart of Gold vs. AUD / USD

Central Bank - The Reserve Bank of Australia conducts monetary policy meetings 11 times a year and their decisions on interest rates could have significant ramifications for the currency market. Glenn Stevens is the central bank governor for Australia. He assumed the post in 2006 and can serve up to 7 years.

Most Active Trading Hours – We tend to see the most significant volatility in the Australian dollar when Australian economic data is being released which is usually around the Tokyo open.

What Does the Economy Rely On? – Australia is a service sector economy but the country produces a tremendous amount of key commodities such as gold and copper. Therefore the Australian economy can be very sensitive to the moves in commodity prices.

Who Does the Economy Rely on for Trade? – Australia’s largest trading partners are in the Asia-Pac region. They do the most trade with Japan followed by China and South Korea.

Market Moving Economic Releases – Central bank rate decisions are usually the most market moving indicators, which mean that they can create the greatest volatility for any currency followed by the employment report, the consumer spending and inflation reports

The Australian Economy

Key Facts

The Australian Economy is comprised of 71.1% Services, 26.4% Industrial, and 2.5% Agriculture. It's largest trading partners are Japan, China, South Korea, US and New Zealand. Some other key facts about the Australian Economy:

  1. Sixth Most Traded Currency
  2. RBA Holds Highest Rate out of All G10 Central Banks
  3. Depends Heavily on Export Demand from China
  4. World’s Fourteenth Largest Economy
  5. Home of the Eight Largest Stock Exchange – the Australian Securities Exchange

General Economic Statistics

2008 GDP Estimate(USD $1.069 Trillion)
Population:22.3 Million
Interest Rate*4.5
Inflation**2.50%
Trade Balance***AUD $2.1 Billion

Market Moving Economic Releases

  1. RBA Rate Decision
  2. Retail Sales
  3. Consumer Prices
  4. Employment Change
  5. GDP (Gross Domestic Product)
  6. Trade Balance
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