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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

Retail Sales Report Affects Australian Dollar Performance

The Australian currency, which touched the highest level in one years versus its U.S. counterpart yesterday, fell as domestic reports indicated today that the country’s economic health is not as good as perceived by investors, mainly in the sales and real estate sectors.

Australian Dollar Rises on G-20 Economic Stimulus

The Australian currency is trading near the highest levels in 2009 after the Group of 20 most influential countries in the world affirmed that stimulus will remain to rescue the global economy, attracting investors to higher-yielding options, like those of the South Pacific region.

Australian Unexpected GDP Figures Push Currency Up

The Australian dollar gained today versus most of the main 6 currencies as a report indicated that the gross domestic product grew much beyond expectations, raising attractiveness for the Aussie, even if the market sentiment favored low-yielding currencies today.

Australian Dollar Down on Chinese Negative Data

The Australian Dollar lost today against several currencies like the yen and the U.S. dollar after a negative report in China pushed investors back to safer assets, damping demand for the Aussie’s riskier profile.

Australian Dollar Climbs on Employment Data

The Australian dollar is being traded today near a 10-month high as job figures in the country came unexpectedly positive, adding confidence that the South Pacific region will be one of the first global economic areas to find its way out of recession.

Australian Dollar Hits Year-High after Central Bank Statement

The Australian dollar reached the highest level versus its U.S. counterpart today after the national central bank Governor affirmed that the current crisis in the country may not be as serious as considered previously.

Australian Dollar Hits Two-Week High on Stocks

The Australian currency, often referred as the Aussie, strengthened to a two-week high versus the yen as stocks in Asia climbed this Monday, raising attractiveness for the yield of the Australian dollar.

Australian Dollar Rises on Better-than-Expected Employment Report

The Australian currency rose against the yen from a seven-week low after a report yesterday indicated that unemployment figures in Australia rose less than forecast, spurring demand for the Aussie, which had lost against all majors since last week’s risk aversion wave.

Australian Dollar Hits Two-Week Low on Jobs Data Speculations

The Australian dollar, one of the main high-yielding currencies among the 16 most traded, has been witnessed a sharp decline since last week’s new wave of pessimism struck equities and commodities markets.

Australian Dollar Down After Chinese Comments

The Australian dollar, often referred as the Aussie, fell for the first time in 5 days against the U.S. dollar and other currencies after China’s comments indicating that the greenback will continue to be the main world reserve currency, damping demand for the Australian dollar high-yielding profile.