Australian Dollar (AUD)

QUOTE AND NEWS
newratings.com  Feb 17  Comment 
CANBERA (dpa-AFX) - The Australian dollar strengthened against the other major currencies in the Asian session on Friday. The Australian dollar rose to nearly a 4-month high of 1.0708 against the NZ dollar, from yesterday's closing value of...
WA Business News  Feb 16  Comment 
The Australian dollar is lower, dropping back below the 77 US cent mark, despite the US dollar weakening against a basket of currencies.
Forex News  Feb 16  Comment 
The Australian dollar dropped today after two consecutive sessions of gains, driven down by employment data. While the report might look good at the first glance, unwrapping it revealed that the situation on the Australian labor market...
The Hindu Business Line  Feb 16  Comment 
Asian stocks edged to new 19-month highs on Thursday with gains underpinned by an ongoing rally on Wall Street, while the dollar came in for a bout of profit-taking after its recent bounce. MSCI's...
WA Business News  Feb 15  Comment 
The Australian dollar is higher against its US counterpart and the yen and euro, performing strongly following positive earnings reports.
Forex News  Feb 15  Comment 
The Australian dollar gained today, reaching new multi-year highs against a number of currencies, as economic reports released from Australia during the current trading session were relatively good. The Westpac Melbourne Institute Index...
newratings.com  Feb 15  Comment 
CANBERA (dpa-AFX) - The Australian dollar strengthened against the other major currencies in the Asian session on Wednesday. The Australian dollar rose to nearly a 2-year high of 1.3772 against the euro and a 1-year high of 87.79 against the...
WA Business News  Feb 14  Comment 
The Australian dollar is lower against its US counterpart which reached a three-week peak against a basket of currencies.
newratings.com  Feb 14  Comment 
CANBERA (dpa-AFX) - The Australian dollar strengthened against the other major currencies in the Asian session on Tuesday. The Australian dollar rose to nearly a 2-year high of 1.3811 against the euro and nearly a 3-1/2-month high of 1.0693...




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.

The 10 year chart of Gold vs. AUD / USD
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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