Australian Dollar (AUD)

QUOTE AND NEWS
The Australian  Jan 29  Comment 
THE Australian dollar is US1c lower against the US dollar following reports the Reserve Bank is considering an interest-rate cut.
The Australian  Jan 28  Comment 
AUSTRALIAN stocks opened weaker after the Fed kept its cards close to its chest on rate movements. Meanwhile the Australian dollar has sunk below US79c.
The Australian  Jan 28  Comment 
THE Australian dollar has backed away from the highs it reached yesterday, weighed down by falling iron ore and oil prices.
News.com.au  Jan 28  Comment 
WA Business News  Jan 28  Comment 
Financial Times  Jan 28  Comment 
Doubts grow that nation’s central bank will cut rates soon
The Economic Times  Jan 28  Comment 
The Australian dollar shot up one full cent to $0.8010 as a key measure of underlying inflation wrong-footed speculators who had shorted the currency.
WA Business News  Jan 27  Comment 
The Australian dollar is slightly lower as a negative market mood puts a brake on any gains the currency is trying to make.
News.com.au  Jan 27  Comment 
THE Australian dollar is slightly lower as a negative market mood puts a brake on any gains the currency is trying to make.
The Australian  Jan 27  Comment 
THE oil price still has further to fall and the Australian dollar and economy was vulnerable to external forces, warns the Assistant Treasurer.
The Australian  Jan 27  Comment 
THE Australian dollar is holding just above US79c this afternoon after being weighed down by weak commodity prices and business confidence.




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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