Australian Dollar (AUD)

QUOTE AND NEWS
Forex News  4 hrs ago  Comment 
The Australian dollar fell sharply today after the business confidence indicator of National Australia Bank dropped last month. It added to talks about a potential interest rate cut from Australia’s central bank.(...)Read the rest of...
WA Business News  8 hrs ago  Comment 
The Australian  6 hrs ago  Comment 
THE Australian dollar has been marching downwards since the release of today’s NAB business survey, hitting a new four-year low against the greenback.
News.com.au  Dec 8  Comment 
THE Australian dollar is straining to keep its head above 83 US cents following disappointing Chinese numbers and surprisingly strong US jobs data.
Forex News  Dec 8  Comment 
The Australian dollar was involved in a selloff last week, and it doesn’t appear that things are improving all that much as a new week begins. The Aussie is still just holding its own against major currencies, and the forecast...
News.com.au  Dec 7  Comment 
THE Australian dollar has fallen to a four-and-a-half-year low after the release of very strong US employment growth figures.
News.com.au  Dec 4  Comment 
THE Australian dollar has stabilised after hitting fresh lows overnight, amid growing expectations that the central bank will need to cut rates again.
WA Business News  Dec 4  Comment 
The Australian  Dec 4  Comment 
THE Australian dollar has remained unloved after its falls in recent days, staying below the US84c mark with the pressure on the downside.
Forex News  Dec 4  Comment 
The Australian dollar dipped today, falling to a new multi-year low against its US counterpart. The currency declined even though macroeconomic data from Australia was positive and should have supported the currency.(...)Read the rest of...
The Economic Times  Dec 4  Comment 
The euro hit a two-year low on Thursday, finding few friends in a market that is wagering the European Central Bank.
The Australian  Dec 4  Comment 
THE Australian dollar has slumped back below US84c after earlier getting a boost from stronger-than-expected retail sales figures.




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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