Australian Dollar (AUD)

QUOTE AND NEWS
The Australian  Jul 17  Comment 
The Aussie dollar’s fall below its long-term average (US76.4c) will help make parts of the economy more competitive.
newratings.com  Jul 17  Comment 
CANBERA (dpa-AFX) - The Australian dollar weakened against most major currencies in the European session on Friday. The Australian dollar fell to 0.7394 against the U.S. dollar and 91.72 against the yen, from early highs of 0.7418 and 92.09,...
newratings.com  Jul 17  Comment 
CANBERA (dpa-AFX) - The U.S. dollar advanced against the Australian dollar in European deals on Friday. The greenback rose to 0.7394 versus the aussie, from an early low of 0.7418. The next possible resistance for the greenback is seen around the...
The Australian  Jul 17  Comment 
The Australian dollar has bounced back following a greenback rally in the wake of Greece’s creditor deal.
WA Business News  Jul 16  Comment 
The Australian dollar is higher against a US dollar hit by softer than expected US economic data.
News.com.au  Jul 16  Comment 
THE Australian dollar is higher amid upbeat sentiment on global markets after the European Central Bank boosted its cash lifeline to Greece.
Daily FX  Jul 16  Comment 
Retail FX traders remain heavily long the Australian Dollar versus its US namesake, and a contrarian view of crowd sentiment leaves us firmly in favor of selling into weakness.
Forex News  Jul 16  Comment 
Aussie is regaining some of the ground lost earlier after the announcement that the US Federal Reserve plans to raise rates before the end of the year. Commodity currencies were under pressure toward the end of the day yesterday,...
Wall Street Journal  Jul 16  Comment 
The Australian dollar’s fall to near its post-float average is beginning to lift the country’s economy, according to John Edwards, a member of the Reserve Bank of Australia’s rate-setting board.
The Australian  Jul 16  Comment 
The fall in the Australian dollar to nearer its post-float average is beginning to lift the Australian economy, says RBA’s John Edwards.




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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