Australian Dollar (AUD)

QUOTE AND NEWS
News.com.au  16 min ago  Comment 
THE Australian dollar is three quarters of a US cent higher after the release of some disappointing US economic data.
Forex News  7 hrs ago  Comment 
The Australian dollar fell today after economic data from Australia and China disappointed market participants. As of now, the currency almost erased its drop against the US dollar and trimmed losses versus the Japanese yen.(...)Read the...
News.com.au  Apr 14  Comment 
THE Australian dollar is higher after the release of disappointing US economic figures.
SeekingAlpha  Apr 14  Comment 
The Australian  Apr 13  Comment 
The Australian dollar has continued its retreat, falling to within 0.2c of a new post-crisis trough after weak Chinese trade data.
The Economic Times  Apr 13  Comment 
The biggest mover among major currencies was the Australian dollar, which shed around 1.7 per cent to head towards a six-year low.
The Australian  Apr 13  Comment 
The Australian dollar was savaged in Asia today on the back of weak China trade data for March.
The Hindu Business Line  Apr 13  Comment 
The Australian dollar tumbled on Monday after a shock contraction in China's exports added to worries about slowing growth in the world's second-largest economy, while sterling extended its losses...
WA Business News  Apr 12  Comment 
The Australian dollar is lower, coming under pressure from a stronger US dollar and the release of weaker local housing data last week.
News.com.au  Apr 12  Comment 
THE Australian dollar is lower against a surging US dollar as more traders bet on a June interest rate rise by the Federal Reserve.




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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