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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

AUD/USD Might Be Ready for 0.6500

The Australian dollar versus the US dollar currency pair, although it may be still receiving some bullish support, seems to be in bearish hands.

Australian Dollar Strongest, Rising for Fourth Session

The Australian dollar was the strongest currency on the Forex market today, rallying for the fourth consecutive day thanks to the improving investors’ sentiment. The currency managed to rally even though domestic macroeconomic data failed to meet expectations for the most part.

Trendline on AUD/CAD May Send It to 0.8918

The Australian dollar versus the Canadian dollar currency pair is at a very interesting spot.

GBP/AUD Could Head for 1.9053 After Bearish Engulfing

The Great Britain pound versus the Australian dollar currency pair seems to lack the power to drive prices higher. Is this actually true or are the bulls just waiting for the right moment?

Australian Dollar Trades Higher After RBA Stands Pat

The Australian dollar rose against all other most-traded currencies today after the Reserve Bank of Australia refrained from cutting interest rates and did not signal about a cut in the immediate future.

Australian Dollar Gains as No Rate Cut Expected in February

The Australian dollar rose today after the outlook for the monetary policy of the Reserve Bank of Australia improved. The general market sentiment improved as well, also providing support to the Australian currency. The Aussie gained against all other most-traded currencies, though by now it has retreated from the day’s highs.

Will the Sellers Hit the Breaks on AUD/USD at 0.6700?

The Australian dollar versus the US dollar currency pair dropped sharply. Is it now the moment to expect profit booking?

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?

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