Australian Dollar (AUD)

QUOTE AND NEWS
Forex News  Jul 2  Comment 
The Australian dollar was the weakest currency on the Forex market during the current trading session, falling against all other most-traded rivals. The most likely reason for that was the persisting fears of trade wars between...
WA Business News  Jun 28  Comment 
The Australian dollar has bounced back and is higher against the greenback, after trading at its lowest level in around 18 months on Thursday.
WA Business News  Jun 27  Comment 
The Australian dollar is lower against the greenback after a moderation in the Trump administration's approach to Chinese investment spurred the US dollar to rally against most major currencies.
WA Business News  Jun 25  Comment 
The Australian dollar has fallen against the US dollar amid a drop in oil prices with a looming lift in crude output and a worsening of the trade war between China and the US.
WA Business News  Jun 24  Comment 
The Australian dollar is back on the ascendancy after its US counterpart weakens, pressured by a rebound in commodity-linked currencies.
WA Business News  Jun 21  Comment 
The Australian dollar has gained some ground against its US counterpart which sharply reversed lower overnight following jumps in the sterling and the euro and following the release of weaker than expected business growth figures.
WA Business News  Jun 20  Comment 
The Australian dollar has continued its slide against a steady US dollar that is hovering near an 11-month peak against a basket of major currencies as China's signal of tolerance of a stronger yuan offset anxiety about the global trade conflict.
Forex News  Jun 20  Comment 
The Australian dollar attempted to rally today as markets were digesting the news about escalation of the trade war between the United States and China. By now, though, the currency has lost most of its gains and is trading near...
WA Business News  Jun 19  Comment 
The Australian dollar has retraced some of the ground it has lost against its major currency peers regaining almost a fifth of a cent against the US dollar.




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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