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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 Gains on U.S. Credit Market Losses

The Australian currency rose its highest value in last 25 years against the U.S. dollar as the credit markets continued to lose on the mortgage lending crisis in the United States.

Australian Dollar Fell on Less Home-Loans

The Australian dollar declined today on Forex during the Asian trading session after the report on home-loans showed a massive decline in the sector and the consumer sentiment index dropped to its lowest level since 1992.

AUD at 25-Year High against Greenback

The Australian dollar reached a record high value since February 1983 against its counterpart from the United States today as the USD slumped and the commodity currencies grew on optimism.

Aussie Falls on Employment Drop

The Australian dollar fell to its one month low against the U.S. currency as the jobs dropped in May for the first time since October 2006 and the traders became more confident that the central bank won’t be raising interest rate more.

Australian Dollar Gains on Higher GDP

The Australian dollar benefited today from the better than expected first quarter GDP growth as the Reserve Bank of Australia may start considering interest rate hikes again.

Aussie Goes Down on Weak Retail Sales

The Australian currency dropped today on Forex as the government bonds rose after the report on the April retail sales showed a decline of this important indicator.

AUD Stops Growth after RBA Statement

The Australian dollar stopped growing on the Forex market today after the Reserve Bank of Australia mentioned economical growth moderation in its monetary policy statement.

Aussie Rallies on Q1 CPI Data

The Australian dollar reached a fresh 24-year high against the U.S. dollar today as the consumer prices in Australia soared above the market’s expectations in March and are now pressing on the central bank to go for the further interest rate hikes.

Australian, N.Z. Dollars Rise for Second Day

Both Australian and New Zealand dollar continued to rise today after the yesterday’s fast growth as the investors remained confident in the stock markets’ improvement and in the carry trade.

Australian Bank Lower U.S. Dollar Forecasts

According to Australia’s largest mortgage provider, Commonwealth Bank of Australia, the U.S. dollar will perform worse than experts previously expected for this year.

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