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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 Mixed After Macroeconomic Data

The Australian dollar was mixed today, rising against some rivals and falling versus others. Macroeconomic data was mixed as well, giving the currency no clear direction.

Australian Dollar Attempts to Keep Rising, Fails

The Australian dollar rose earlier today, extending yesterday’s rally, on the back of the positive market sentiment. Yet the currency has retraced its gains by now.

Aussie Ignores Interest Rate Forecast As Threat of Trade Wars Wanes

National Australia Bank pushed its forecast of an interest rate hike from 2018 to mid-2019. Yet that did not prevent a rally of the Australian dollar, caused by signs of waning trade tensions between the United States and China.

Aussie Rallies After Mixed Employment Data, Struggles to Keep Gains

The Australian dollar attempted to rally intraday but has trimmed its gains against most major rivals by now and lost them versus the US dollar entirely. The rally followed employment data, which actually was somewhat mixed.

Australian Dollar Firm in Face of Disappointing Reports

The Australian dollar was firm today despite underwhelming domestic macroeconomic reports released over the current trading session.

Australian Dollar Stable After RBA Minutes & China’s Data

The Australian dollar was rather stable today, rising against some rivals and falling versus others, but only just a little bit. Fundamentals were somewhat mixed, giving the currency no help in finding direction. Among important events during the current trading session were the policy minutes from the Reserve Bank of Australia and China’s macroeconomic releases.

Australian Dollar Mixed After Poor Housing Data

The housing report released in Australia today was very poor and missed already pessimistic expectations. Yet the Australian dollar was mixed, falling against some rivals, but managing to etch gains versus others.

Australian Dollar Tanks After Disappointing Retail Sales

The Australian dollar slumped against all major currencies today, falling to the lowest level since June 2017 against the US dollar, after nation’s retail sales unexpectedly halted growth in March. Rising imports in China, Australia’s biggest trading partner, did little to support the currency.

Australian Dollar Lower Despite Record High Business Conditions

The Australian dollar traded broadly lower today despite a report that showed that the business conditions index reached the record high level last month.

Aussie Rallies on RBA Statement & China’s Data, Unable to Keep Gains

The Australian dollar rallied intraday, lifted by the optimistic outlook for the nation’s economy and positive macroeconomic data from China. Yet the currency was unable to preserve gains, falling to the opening level against some rivals and below it against others by now.

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