Australian Dollar (AUD)

QUOTE AND NEWS
WA Business News  6 hrs ago  Comment 
The Australian dollar has extended its losses as shockingly weak inflation figures reverberate around global markets.
Clusterstock  Apr 27  Comment 
Good morning!  The Australian dollar is cratering after consumer price index (CPI) came in way below expectations for first quarter, opening the door to a potential rate cut from the RBA next week. The Aussie dollar is down by 2.0% to...
Forex News  Apr 27  Comment 
The Australian dollar sank today as inflation data was unexpectedly weak, leading to speculation about a possible interest rate cut from the Reserve Bank of Australia. Australia’s Consumer Price Index fell 0.2% in the March quarter from...
The Hindu Business Line  Apr 27  Comment 
Financial Times  Apr 27  Comment 
Bets on rate cut grow after inflation slows unexpectedly
newratings.com  Apr 27  Comment 
CANBERA (dpa-AFX) - The Australian dollar weakened against the other major currencies in the Asian session on Wednesday. The Australian dollar fell to nearly a 2-month low of 0.9646 against the Canadian dollar and a 1-week low of 1.1117 against...
The Hindu Business Line  Apr 27  Comment 
Dollar softer against most currencies except the yen
Wall Street Journal  Apr 27  Comment 
Shares of Murray Goulburn Co-Operative dropped sharply after the dairy processor reduced its net-profit forecast due to the stronger Australian dollar, low commodity prices and a fall in demand for its higher-margin products.
The Australian  Apr 27  Comment 
The Aussie dollar tumbled after the first quarter of deflation in over seven years lifted the chances of a rate cut.
WA Business News  Apr 26  Comment 
A spike in global oil prices has propelled the Australian dollar higher.
newratings.com  Apr 26  Comment 
CANBERA (dpa-AFX) - The Australian dollar weakened against the other major currencies in the Asian session on Tuesday. The Australian dollar fell to an 8-day low of 1.4624 against the euro, from yesterday's closing value of 1.4600....




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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