Australian Dollar General Info
The three letter currency code for the Australian Dollar is AUD
and the symbol is $.
It is the domestic currency in
Australia, Christmas Island, Cocos Keeling Islands, Heard And McDonald Islands, Kiribati, Nauru, Norfolk Island and Tuvalu.
The Australian dollar is the fifth most traded currency in the world, it trades in the world foreign exchange markets behind the US dollar, the euro, the yen and the pound sterling. The Australian dollar is popular with currency traders, because of the high interest rates in Australia, the freedom of the foreign exchange market from government intervention, the stability of Australia's economy and political system, and the view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies, especially because of its greater exposure to Asian economies and the commodities cycle. The currency is commonly referred to by foreign-exchange traders as the Aussie dollar.
AUD - Market View
In early September, the Australian dollar had fallen back slightly from multi-year highs against the US dollar but remained close to $0.8. The Aussie’s year-to-date gain over USD stood at more than 10%. Against the New Zealand dollar, AUD had traded to a sixteen-month high of N$1.1141 and was up 7% on the year.
In September, Dutch bank ABN Amro predicted AUD/USD would rise to 0.9 by the end of 2018. As reasons for the pair’s climb, ABN cited “strong conviction” on future US dollar weakness, future commodity price rises, an improvement in global trade and potential rate hikes by the RBA.
The long-term technical outlook for the Aussie supports ABN’s view. On the monthly AUD/USD chart, July’s clean break from a crisp triangle (or pennant) pattern suggests higher prices ahead over the next twelve months.
Australia’s currency was resurgent in June and July in large part due to a surprising recovery in the prices of important commodities, especially iron ore, which rose in the first week of September to a five-month high of $77.87 per metric tonne. Iron ore had been as low as $52.30 in June.
Sentiment on iron ore for 2018 continues to improve. Australian bank Macquarie ended a trend of gloomy iron ore predictions in September when they massively upgraded their 2018 forecasts for the commodity. The bank had previously expected a first-quarter average price per tonne of $50 but now see this as $73.
1 Day 1 Week: Australian Dollar was up against the United States Dollar with the AUD/USD at 0.7962, a rise of 0.38% but remains down for the last 7 days with a drop of -0.16%.
3 Month Trend: AUD/USD is trading higher in the 3-month range [Hi:0.8074, Lo:0.7568] and for the quarter is up 4.94%.
Australian Dollar - News & Market Updates
Australian Dollar was friday up 0.38% against the United States Dollar, up 0.95% against the British Pound Sterling, up 0.33% against the Euro, up 0.21% against the New Zealand Dollar, up 0.38% against the Chinese Yuan, even against the Japanese Yen and up 0.11% against the Singapore Dollar. AUD 7 Day Cross-Rate Charts Read on... View article >
Posted on 22 September 2017 | 9:01 pm GMT
Sterling GBP/USD 1 Week Chart The Pound (GBP) advanced against most of its peers earlier this morning as markets appeared to be cautiously optimistic about Theresa May’s Brexit speech in Florence later this afternoon. Observers expect the Prime Minister to propose a two-year transitional deal, to start at the end March 2019 in order to... View article >
Posted on 22 September 2017 | 9:43 am GMT
Australian Dollar was down -1.32% against the United States Dollar, down -1.94% against the British Pound Sterling, down -1.73% against the Euro, down -0.65% against the New Zealand Dollar, down -1.08% against the Chinese Yuan, down -1.13% against the Japanese Yen and down -1.19% against the Singapore Dollar. AUD 7 Day Cross-Rate Charts Read on... View article >
Posted on 21 September 2017 | 9:01 pm GMT
Sterling GBP/USD 1 Week Chart The Pound (GBP) advanced against the majority of its peers yesterday following a better than expected retail sales report. Markets were upbeat as data showed retail sales jumped from an upwardly revised 0.7% to 1% in August, outpacing forecasts that sales growth would have slowed to 0.2% and increasing the... View article >
Posted on 21 September 2017 | 9:11 am GMT
Currencies in the Asia-Pacific region fell against the US dollar on Thursday morning after the Federal Reserve signaled that it would raise interest rates again this year and would begin shrinking its balance sheet in October. The Fed funds rate was left unchanged at its current range of 1–1.25%. Although the majority of economists had... View article >
Posted on 21 September 2017 | 4:36 am GMT
Australian Dollar was up 0.07% against the United States Dollar, up 0.34% against the British Pound Sterling, up 1.05% against the Euro, down -0.25% against the New Zealand Dollar, even against the Chinese Yuan, up 0.77% against the Japanese Yen and up 0.34% against the Singapore Dollar. AUD 7 Day Cross-Rate Charts Read on for... View article >
Posted on 20 September 2017 | 9:01 pm GMT
Sterling GBP/USD 1 Week Chart The Pound (GBP) struggled to advance yesterday as rumours circulated that Foreign Secretary Boris Johnson may quit Theresa May’s cabinet in protest over her plans for Brexit. While Johnson was quick to deny these claims, the reports of a split at the top of the Conservative leadership over the government’s... View article >
Posted on 20 September 2017 | 9:21 am GMT
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