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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 Soft Despite Rebound in Chinese Industrial Production

The Australian dollar was soft today despite a rebound of industrial production in China — Australia’s biggest trading partner. Other indicators released in China today were not good, though. There were no economic releases in Australia today, and yesterday’s employment data was mixed.

AUD/NZD Again Above 1.0689

The Australian dollar versus the New Zealand dollar currency pair climbed above an important support level. Will it be able to take this chance to further appreciate?

Australian Dollar Strongest on Economic Data, Market Sentiment

The Australian dollar rallied today, turning out to be the strongest currency on the Forex market during Wednesday’s trading. The possible reasons for the rally were good domestic macroeconomic data and optimism about an exit from the lockdown in Australia as well as other countries around the world.

AUD/CAD on the Grey Line at 0.9093

The Australian dollar versus the Canadian dollar currency pair seems to be willing to still think where to go next. But does the market offer some guides?

Aussie Rebounds After Falling on Tensions Between China & Australia

The Australian dollar fell intraday but has rebounded by now. The drop was a result of growing political tensions between China and Australia as well as poor macroeconomic data in both Australia and China.

AUD/USD Above the 0.6500 Handle

The Australian dollar versus the US dollar currency pair is, yet again, above the 0.6500 psychological level. It’s the bulls that won, or is the bears that are preparing their final push?

Australian Dollar Remains Strong After Economic Forecast

The Australian dollar remained firm today, being one of the strongest currencies on the Forex market, second only to the New Zealand dollar. The Australian central bank released its economic projections on Friday. While they were pessimistic in the short term, over the longer term the projections were fairly positive.

Australian Dollar Strongest After Australian & Chinese Trade Data

The Australian dollar rallied against all other most-traded currencies today after positive trade data released in China, Australia’s biggest trading partner, and Australia itself. Reports about the services sector were rather bad in both Australia and China but that did not prevent the Aussie from logging substantial gains.

AUD/CAD Between 0.9093 and 0.9010

The Australian dollar versus the Canadian dollar currency is in a position from where it could go either up or down. Is there any hint on the direction?

Australian Dollar Edges Higher After Positive Retail Sales

The Australian dollar rose a bit today following the release of a better-than-expected retail sales report. Gains were limited, though, as the market sentiment was mixed, failing to help the currency in finding direction.

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