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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

Australian Dollar Hits 7-month High on Favorable Employment Data

The Aussie rose against the yen after a regional jobs report in Australia showed an increase in employment conditions and data.

Australian Dollar Hits 3-Week Low on American Financial Concerns

Speculations that U.S. banks losses may increase moved the Australian dollar to a level very close to the lowest in 3 weeks.

U.S. Economy Reports Push Down the Australian and NZ Dollar

The Aussie and the kiwi lost ground against major currencies as producer prices and retail sales fell in the United States, changing the speculations about the global crisis that «the worst is behind us».

Aussie and Kiwi Gain as Risks Decrease

The currencies of Australia and New Zealand advanced against the Japanese yen and the U.S. dollar on the Forex market today as the traders clearly favored risk-ridden high-yielding assets despite the mixed stock trading session results in Asia.

Aussie Rises to New Monthly Maximums

The Australian dollar reached the new monthly maximum the Japanese yen as the stock markets signaled growth for a third day on improved earnings of the banks.

Aussie Rises as RBA Leaves Rate Unchanged

The Australian dollar went up against all other major currencies today after the country’s central bank decided to leave the policy interest rate unchanged, unexpectedly stopping its most aggressive rate-cutting streak.

AUD Gains for 2nd Day as Confidence Grows

The Australian dollar showed the second day of growth against the U.S. dollar and the Japanese yen today as the traders feel a growing confidence in the Australian economy after the much-needed stimulus package has been adopted there.

AUD Falls as Stimulus Plan is Rejected

The Australian dollar declined against the U.S. dollar, the Japanese yen and the euro today as the country’s senate refused to adopt the Prime Minister’s stimulus package worth of $27.4 billion.

AUD Grows on Possible Rate Bottom

The Australian dollar is currently heading for a first weekly gain against the U.S. dollar this year as the traders believe that the bottom in the interest rates is near and the country’s economy will begin recovering soon with the help of the government’s stimuli.

Australian Dollar Grows after Rate Cut

The Australian dollar gained today against the other currencies on the Forex market after the country’s central bank cut the interest rate to the lowest level in decades and the government announced a stimulus package for the economy.