Australian Dollar (AUD)

QUOTE AND NEWS
WA Business News  10 hrs ago  Comment 
The Australian dollar is higher against its US counterpart which has fallen amid disappointing US economic data.
WA Business News  Jun 13  Comment 
The Australian dollar is lower against its US counterpart, pulling back from a multi-week high amid a sharp fall in the price of iron ore .
WA Business News  Jun 9  Comment 
The Australian share market has ended slightly higher, buoyed by mining stocks, while the poor showing for the ruling Conservative Party in the UK election has given the Aussie dollar a boost against the pound. 
WA Business News  Jun 8  Comment 
The Australian dollar is treading water against its US counterpart ahead of key housing finance data and as the greenback firms slightly.
Forex News  Jun 8  Comment 
The Australian dollar was steady against its US counterpart and rose versus other most-traded rivals even though macroeconomic data, both domestic and from abroad, was not particularly good. Australia’s trade balance surplus narrowed sharply...
WA Business News  Jun 7  Comment 
The Australian dollar has crept a little higher against its US counterpart amid falls in oil and iron ore prices and ahead of several key political and monetary events.
Forex News  Jun 7  Comment 
The Australian dollar gained today, rising for the fourth consecutive session against the US dollar and the euro, as reports about economic growth and the construction sector were beneficial to the currency. Australia’s gross domestic...
WA Business News  Jun 7  Comment 
Better-than-expected economic growth has boosted the Australian dollar, while the share market was steady as gains by banks and healthcare companies offset falls by the supermarket giants.
Forex News  Jun 6  Comment 
The Australian dollar rallied today against its most-traded rivals (with the exception of the very strong Japanese yen) following the release of monetary policy statement from the Reserve Bank of Australia. The RBA left its main interest...




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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