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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

Aussie Flat After Economic Data from China & Australia

The Australian dollar was trading sideways during Friday’s session as traders have paused sell-off of riskier currencies but remained cautious of the spreading coronavirus in China and its potential impact on the global economy. Australian domestic macroeconomic data was in line with expectations, and some of China’s reports were positive. While that provided a short-term boost to the Aussie, it did not last long.

Australian Macroeconomic Data Beats Expectations, Aussie Unimpressed

The Australian dollar fell against its most-traded rivals today despite the better-than-expected domestic macroeconomic data. The Aussie, as well as other commodity currencies, continued to be dragged down by fears of the coronavirus that has originated in China but is now spreading across the world.

AUD/NZD Delays the Advancement Towards 1.0530

The Australian dollar versus the New Zealand dollar currency pair seems to have a hard time gaining further momentum towards the upside. Are the bulls not ready yet or it’s just that they don’t have the power?

AUD/JPY Could Head for 71.09

The Australian dollar versus the Japanese yen currency pair sits just under an important support area. Will this phase be rendered as a false break or is the price preparing to confirm the level as resistance?

Australian Dollar Falls on Risk Aversion, Deteriorating Business Confidence & Conditions

The Australian dollar fell against most major currencies today, with the exception of the Great Britain pound and the New Zealand dollar. The market sentiment remained in the risk-off mode, and domestic macroeconomic data was unfavorable to the currency of Australia as well.

AUD/CAD Could Be on Its Way to 0.8835

The Australian dollar versus the Canadian dollar currency pair was brought by the bears at the 0.8918 support. Will it have the necessary strength for a strong upwards leg?

AUD/USD Set Its Destination for 0.6700

The Australian dollar versus the US dollar currency pair was not able to maintain its ground above 0.6850. As a consequence, the south is the current destination, unless 0.6850 was only falsely pierced.

Australian Dollar Emerges Strongest After Employment Report

The Australian dollar rallied against all other of its most-traded rivals, even the Japanese yen, which itself was rather strong. The main reason for the Aussie’s great performance was a surprisingly good domestic employment report, which improved the outlook for monetary policy a bit. Even risk aversion prevailing on the market was unable to stop the Australian currency from rallying.

AUD/NZD May Try a Turn Towards 1.0530

The Australian dollar versus the New Zealand dollar currency pair gives some signs that an appreciation is not that far from the realm of possibility. Is it so, or the bears are trying to persuade the bulls?

Aussie Mixed amid Improving Market Sentiment, Disappointing Australian Data

The Australian dollar was mixed today as market participants were digesting news about the coronavirus that has started in China. The Aussie was flat against a range of major currencies, jumped versus the Canadian dollar, and dropped against the Great Britain pound. Macroeconomic reports released in Australia today were poor.

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