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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 Stays Firm Despite Disappointing Retails Sales

The Australian dollar rose against some of its rivals today despite a slightly disappointing retail sales report. The gains were limited, though, as markets were quiet ahead of US nonfarm payrolls due for release later over Friday’s trading session.

Australian Dollar Weak After Trade Balance Shrinks

The Australian dollar was weak today, falling against almost all other most-traded currencies. Some market analysts blamed the decline on the disappointing trade data released in Australia during the trading session, while others thought that it might be just a corrective sell-off after the incredibly good performance last month.

Aussie Soft After Economy Enters First Recession in Almost 30 Years

The Australian dollar was soft today after data confirmed that Australia’s economy has entered a recession. The losses were limited, though, and the Aussie managed to remain flat against a range of peers. The currency had a muted reaction to yesterday’s monetary policy announcement from the Australian central bank.

AUD/NZD Ready for 1.0903?

The Australian versus the New Zealand dollar currency pair seems to have been very reluctant in crafting any significant lows. Is this a sign that the bears are not that determined?

Australian Dollar Outlook: Can RBA Stop Aussie’s Rally?

The Australian dollar was very strong lately, reaching the highest level in more than a year and a half against its US counterpart last week. But some traders are worried that the currency will be unable to extend its rally, especially if the nation’s central bank remains dovish. Let’s look at fundamentals that will be driving the Australian currency this week.

Australian Dollar Among Strongest on Economic Data, Risk Appetite

The Australian dollar was among the strongest most-traded currencies today thanks to the risk appetite caused by the surge of the Nikkei stock index. Decent macroeconomic data in China, Australia’s biggest trading partner, and in Australia itself also provided support to the Aussie.

AUD/USD Above 0.7320. Could the Bulls Push the Price Further?

The Australian dollar versus the US dollar currency pair seems to have conquered 0.7320. Do the bears have any plans?

AUD/NZD Consolidates Around 1.0983

The Australian versus the New Zealand dollar currency pair seems to have entered into a consolidation phase. Is this only a pause of the bullish advancement?

Bears Joining Forces on AUD/USD from 0.7275 High?

The Australian versus the US dollar currency pair seems to be making appreciation attempts in vain, as each of them is immediately met by a decisive retracement.

Australian Leading Index Rises, Aussie Joins Other Commodity Currencies in Rally

The Australian dollar was one of the strongest currencies on the Forex market today, second only to the New Zealand dollar. The Aussie joined other commodity currencies in a rally, driven mainly by the positive general market sentiment, though decent domestic macroeconomic data and good news from the Victoria state were also helping.

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