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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 Down as Flood Levy May Cause Pause for Rates Hikes

The Australian dollar took a beating today on the speculation that the interest rates may be put on hold for an extended period as the government proposed a levy to support the economy, hurt by the catastrophic floods.

Aussie Weakens vs. Greenback on Slower CPI Growth

The Australian dollar slipped today against its US counterpart after the report showed that the inflation rose with slower pare than was predicted.

AUD Rises with Stocks, But Australian Economy Remains in Danger

The Australian dollar strengthened today as the rally of stocks increased appeal of the riskier assets, but the concerns about the impact of the floods on the Australian economy persist and may curb the currency’s gains.

Chinese Inflation Fighting Weights AUD

Anti-inflationary measures conducted by the financial authorities of China press on the currency of its close trade partner — Australia, sending it down not worse than the floods.

Disaster Prevented Aussie from Rising on Rally of Commodities

The Australian dollar wasn’t been able to profit from the rally of commodities and continued to fall as the floods, which are worst since 1893, threaten to disrupt the nation’s economy and can prevent the central bank from raising the interest rates.

Slump of Commodities Weakens Australian Dollar

The rally of the US dollar weakened its Australian counterpart as the drop of commodities, which was cause by the rally of the greenback, damped the appeal of the commodity currencies.

Recovering Economy Increased Appeal of Australian Dollar

The Australian dollar headed today to the highest level since 1982 against its US counterpart as the signs of the faster economic growth in the US increased the appeal of the higher-yielding currencies. The currency declined versus the euro.

Higher Interest Rates in China Weaken Australian Dollar

The Australian dollar declined against the euro after China’s central bank increased its interest rates, causing speculation that China may intensify its attempts to curb the inflation. The Australian currency posted small gains versus the US dollar and the Japanese yen.

Can Aussie Reach Parity with Greenback This Week? Unlikely

The Australian dollar showed a good performance in the first half of the last week, but has slowed its gains in the second. What can we expect from the Aussie in the next week, can it reach parity with the US dollar?

Aussie Reaches Parity with Greenback on China’s Interest Rates

The Australian dollar jumped, reaching parity with the US currency, today as China refrained from increasing its interest rates, boosting the commodities and the stocks and increasing the attractiveness of the currency.