Australian Dollar (AUD)

QUOTE AND NEWS
WA Business News  Jun 28  Comment 
The Australian dollar is up almost half a cent against its weakening US counterpart amid a surge in the prices of iron ore and oil.
WA Business News  Jun 27  Comment 
The Australian dollar is lower against its US counterpart, dropping back below 76 US cents.
WA Business News  Jun 26  Comment 
The Australian dollar is higher against a strengthening US dollar which rebounded after earlier losses on weaker-than-expected US economic data.
WA Business News  Jun 25  Comment 
The Australian dollar is hardly changed against its US counterpart even as the greenback weakens slightly amid mixed data and comments from the Federal Reserve.
WA Business News  Jun 22  Comment 
The Australian dollar is lower against its US counterpart which has remained steady in the offshore session.
WA Business News  Jun 21  Comment 
The Australian dollar has extended losses against its US counterpart, despite the greenback's underperformance, as the price of oil falls another two per cent.
The Economic Times  Jun 21  Comment 
The Australian dollar fell 0.3 per cent to $0.7550 and the New Zealand dollar was 0.2 per cent lower at $0.7228 .
The Economic Times  Jun 21  Comment 
The Australian dollar slipped 0.2 per cent to $0.7563, a level not seen since June 14.
WA Business News  Jun 20  Comment 
The Australian dollar is sharply down against its US counterpart as the greenback lifts against most currencies, except the yen and the kiwi dollar, in a lively session.
Forex News  Jun 20  Comment 
The Australian dollar started the current trading session rising but reversed its movement at about 12:00 GMT and is trading near the opening levels as of now. The Reserve Bank of Australia released minutes of its latest policy meeting...




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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