Australian Dollar (AUD)

QUOTE AND NEWS
guardian.co.uk  Oct 24  Comment 
Shares rise as the airlines $2bn cost-cutting program takes effect and a lower Australian dollar and oil price create a more benign operating environment The chief executive of Qantas, Alan Joyce, has said the troubled airline is on track to...
News.com.au  Oct 23  Comment 
THE Australian dollar is lower following disappointing inflation figures out of New Zealand.
WA Business News  Oct 23  Comment 
TechCrunch  Oct 23  Comment 
 Oneflare, a local services marketplace based in Sydney, Australia, has raised an additional $1 million AUD (about $876,000), bringing its total funding so far to $1.5 million AUD (about $1.3 million). Investors include Les Szekely of Equity...
SeekingAlpha  Oct 22  Comment 
By Dean Popplewell: By Stuart McPhee AUD/USD for Wednesday, October 22, 2014 During the last few weeks the Australian dollar has done well to stop the bleeding and trade within a wide range roughly between 0.8650 and 0.88. Prior to that...
The Economic Times  Oct 22  Comment 
The Australian dollar briefly dropped a quarter of a US cent to $0.8746 on Wednesday following a tame inflation reading.
News.com.au  Oct 21  Comment 
THE Australian dollar has reversed Tuesday’s gains in the face of US dollar strength.
WA Business News  Oct 21  Comment 
The Economic Times  Oct 21  Comment 
The Aussie went as high as $0.8815, from $0.8773 before the figures, and was last at $0.8800 to show a 0.2 per cent gain on the day.
News.com.au  Oct 20  Comment 
THE Australian dollar is higher, boosted by a gain in the iron ore price and a weaker greenback.
newratings.com  Oct 20  Comment 
CANBERA (dpa-AFX) - The Australian dollar resumed its early advance against some of its major counterparts in New York deals on Monday. The aussie rose to a 5-day high of 1.4518 against the euro and a 4-day high of 0.9912 against the loonie. The...
BBC News  Oct 20  Comment 
Australia's government hopes to raise as much as $5.5bn Australian dollars ($4.8bn; £3bn) by selling shares in health insurer Medibank Private.




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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