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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 Soft on Market Sentiment, Weak Economic Data

The Australian dollar was soft today. While it managed to gain on the US and Canadian dollars, the Aussie fell against other most-traded currencies. It declined even against its New Zealand counterpart, which is also considered riskier commodity currency. The market sentiment remained in a risk-off mode, weighing on Australian currency, and Australia’s macroeconomic releases were not helping either.

Australian Dollar Rises for Third Day After GDP Beats Expectations

The Australian dollar continued to rise, logging a third consecutive daily gain. This time, it is easier to explain the currency’s rally as it followed the better-than-expected GDP print released during the trading session. Economic data from China, Australia’s biggest trading partner, was atrocious, but it had a little impact on the movement of the Aussie.

AUD/JPY Slipped Under 71.09. Where to Now?

The Australian dollar versus the Japanese yen currency pair is consolidating just under the 71.09 level.

Australian Dollar Jumps After RBA Cuts Interest Rates

Fundamentals looked extremely grim to the Australian dollar today. An interest rate cut by Australia’s central bank, unfavorable domestic economic reports, persisting risk aversion on markets — all those factors should have driven the currency down. But instead, the Aussie jumped against almost all of its major rivals, except for the Japanese yen.

AUD/CAD Is Facing the 0.8692 Support

The Australian dollar versus the Canadian dollar currency pair consolidates at 0.8692. Will the bulls take their chance?

AUD/USD Still to Fall from 0.6500?

The Australian dollar versus the US dollar currency pair extended to as low as 0.6433. Is this the end of the road for this depreciation?

AUD/JPY Facing a Decision at 72.50

The Australian Dollar versus the Japanese yen currency pair is in a spot that may very well facilitate both a rally or a fall. But which one has more chances of becoming a reality?

AUD/USD Heading for 0.6550?

The Australian dollar versus the US dollar currency pair dropped from the 0.6700 multiannual level.

Australian Dollar Drops After Unemployment Rate Rises

The Australian dollar fell against almost all most-traded currencies today (with the exception of the New Zealand dollar) after the release of an employment report. While the employment figures were not that bad, the bigger-than-expected increase of unemployment made the currency unappealing to traders.

Looks like AUD/NZD Targets 1.0530

The Australian dollar versus the New Zealand dollar currency pair appears to be in bullish hands, even if the bears did all they could to send it towards the south.