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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 Rallies on Trade Surplus, News About US-China Trade Talks

The Australian dollar rallied today against its major rivals. While decent macroeconomic data provided some help to the currency, the main contributor to the rally were the latest developments in the US-China trade conflict.

Australian Dollar Rises After GDP & Services PMI Reports

The Australia dollar gained today after Australia’s economic growth matched expectations and the services sector returned to expansion.

Correction or Trend Change on AUD/CAD?

The Australian dollar versus the Canadian dollar currency pair retraced sharply from the area of the 0.8900 psychological level. Even if the price is nearing important resistance areas, the fact that such a strong bullish candle was printed on September 3, makes the bears question whether or not they should short the market.

Australian Dollar Firm After RBA Holds Rates

The Australian dollar was firm today after the Reserve Bank of Australia kept interest rates unchanged and showed no signs of turning more dovish than it already was. Australia’s economic data was mixed, not giving the Aussie a reason to go in any specific direction.

Aussie Unable to Hold onto Gains Despite Positive Manufacturing Data in China & Australia

The Australian dollar was following moves of the Chinese yuan today, rallying intraday on China’s good manufacturing report, but losing gains later. Australia’s own manufacturing data was pretty good as well.

Australian Dollar Strong Despite Big Drop of Building Approvals

The Australian dollar was strong today despite underwhelming domestic macroeconomic data.

AUD/USD Testing the Lows of 0.6700

The Australian dollar versus the US dollar currency pair looks like it is trying to bottom, but still fails to do so.

Australian Dollar Weakens on Poor Data, Rebounds Later

The Australian dollar was largely following the footsteps of its New Zealand counterpart today, falling initially during the Thursday’s session due to poor domestic data but rebounding later on the improving market sentiment before weakening yet again afterward. The Aussie did a better job of retaining its gains than the kiwi, though.

AUD/CAD After the Strong Retracement from 0.8900

The Australian dollar versus the Canadian dollar currency pair dropped to and then recovered sharply from the 0.8900 psychological level. The question is now: is this a sign of the bulls taking control?

Aussie Weakens After Australia’s PMIs Fall

The Australian dollar fell today amid the cautious market sentiment and domestic macroeconomic data that was not particularly good. Yet the losses were limited and currency managed to trim them against some rivals.

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