The Australian dollar dipped intraday, but the losses were short-lived, and the currency has climbed above the opening level by now. Other commodity currencies, like the Canadian and New Zealand dollar, demonstrated the similar performance during the Thursday’s trading session.
Australian Dollar AUD
Central Bank: Reserve Bank of Australia
Public Debt to GDP Ratio, 2015: 44.3%
Trade Balance, 2015: -$24 bln.
Inflation, 2015: 1.9%
Major commodity exporter
High-yielding interest rates
Factors of Weakness
Domestic housing bubble
The Australian dollar is the official currency of the Commonwealth of Australia. It is often called the Aussie by Forex traders. The currency was implemented in 1966 and allowed to freely float at 1983. Australia has an export-driven economy (the mining sector represents 19% of GDP), therefore the value of the Aussie depends on commodity prices. Australia has strong trading ties with Asia, particularly China, so economic growth in that region has a particularly strong impact on Australia’s currency. The Aussie is used in carry trade because of the relatively high interest rates in Australia.
Australian Dollar News Archive
Macroeconomic data released from Australia today was mixed, but that did not prevent the Australian dollar from rising and even reaching multi-year highs against such currencies like the euro and the Swiss franc.
The Australian dollar fell against its US counterpart but logged moderate gains against other most-traded rivals after the Reserve Bank of Australia released relatively upbeat minutes of the February policy meeting.
The AUD/USD currency declined significantly today to reverse the bullish trend that the currency pair has enjoyed since the beginning of the year. This was a major reversal from the currency pair’s rally witnessed yesterday after the release of positive Australian employment data for the month of January.
The Australian dollar dropped today after two consecutive sessions of gains, driven down by employment data. While the report might look good at the first glance, unwrapping it revealed that the situation on the Australian labor market was not that stellar.
The Australian dollar gained today, reaching new multi-year highs against a number of currencies, as economic reports released from Australia during the current trading session were relatively good.
The Australian dollar rallied today as economic data, both domestic and from abroad, was supportive to the currency, allowing it to rally to multi-year highs against some of its rivals.
The Australian dollar rose against its rivals today thanks to the surprisingly good trade report released from China, Australia’s biggest trading partner. Economic data from Australia itself was not so good, but it did not affect the currency enough to drive it down.
The Australian dollar rose against its most-traded counterparts today following yesterday’s drop after the Reserve Bank of Australia decided to leave its monetary policy unchanged.