Australian Dollar (AUD)

QUOTE AND NEWS
The Australian  5 hrs ago  Comment 
The Australian dollar has nudged lower despite the greenback falling overnight due to a sell-off sparked by profit-taking.
WA Business News  5 hrs ago  Comment 
News.com.au  6 hrs ago  Comment 
THE Australian dollar is lower against the greenback which also fell overnight despite the release of upbeat US economic data.
Daily FX  Jul 23  Comment 
The US Dollar may have set an important high versus the Euro and New Zealand Dollar, but watch the price of gold and the Australian Dollar for further USD-buying opportunities.
Daily FX  Jul 23  Comment 
Retail FX traders remain aggressively long the Australian Dollar versus its US namesake, and as long as this remains the case we will maintain our contrarian calls for continued AUD weakness
newratings.com  Jul 23  Comment 
CANBERA (dpa-AFX) - The New Zealand dollar extended its highs against the other major currencies in the early European session on Thursday. The NZ dollar rose to a 9-day high of 1.065 against the Australian dollar, from an early low of 1.1212....
WA Business News  Jul 23  Comment 
Gold miner Newcrest Mining is expected to post its best earnings figures in years after lifting its profit margins thanks to lower production costs and a weaker Australian dollar.
guardian.co.uk  Jul 23  Comment 
The dollar’s fall of more than 35c from its recent peak is substantial and it’s easier to make the case for further falls than for a quick recovery The Australian dollar has been in freefall. “Smashed” was the description from a foreign...
WA Business News  Jul 22  Comment 
The Australian dollar is lower after the Reserve Bank indicated there is room to cut interest rates further.
News.com.au  Jul 22  Comment 
THE Australian dollar is lower against a greenback that has rebounded amid a lack of major economic news.
newratings.com  Jul 22  Comment 
CANBERA (dpa-AFX) - The Australian dollar retreated from recent highs against the other major currencies in the Asian session on Wednesday. The Australian dollar fell to a 6-day low of 1.4788 against the euro, from an early high of 1.4723. At...




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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