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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

AUD Falls as Interest Rate Expectations Decrease Optimism

Following a rapid growth yesterday, the Australian dollar declines against its major counterparts (except euro) today as the market participants expect the interest rates to be on hold for some time.

Australian and N.Z. Dollars Rise on China’s Growth

The Australian and New Zealand dollars rose significantly against the other major currencies today as the Chinese stock market demonstrated growth on talks that the government may easy the investment regulations.

Aussie Slips on Concern for China’s Growth

The Australian dollar extended its decline today as the speculation, that the Chinese economic expansion slows, curbed the appeal of the higher-yielding currencies.

Aussie Falls After It Rallied Too Much Last Week

The Australian dollar weakened today, following the huge leap up in the last week, on the speculation that the currency has rallied too much, while the global economic growth might slow.

Economic Growth Outlook Boosts Aussie vs. Euro

The Australian dollar rose against the euro and fluctuated versus the Japanese yen on the speculation that the global economic recovery gains momentum, attracting the investors to the higher-yielding currencies; the moves against the U.S. dollar currently ended with losses for the Aussie.

Aussie Rises on Optimistic Economic Outlook

The Australian dollar gained today after the Reserve Bank of Australia kept the interest rates unchanged and the report showed that the nation’s trade surplus grew.

Significant Decline of Australian Dollar This Week

The Australian dollar experienced the significant losses this week on the concerns for the new mining tax, which, while eased somewhat, didn’t go away completely.

Aussie Gains on Outlook for Mining Tax Revision

The Australian dollar rose today against its New Zealand counterpart as the speculation arose that the government will make changes to the planned mining tax after the Prime Minister Kevin Rudd resigned.

Rising Employment Value Bolstered Aussie

The Australian dollar strengthened today as the report showed the improving conditions on the jobs market and as China’s exports surged.

Australian Dollar Goes Down as Interest Rates Left Unchanged

The Australian dollar was weakened by the central bank’s decision to leave the interest rates unchanged and after yet another unfavorable news have come from Europe.