AUD/USD: The Australian Dollar & The U.S Dollar
The AUD/USD Currency Cross has the Australian Dollar as the base currency and the United States Dollar as the quote currency. Nicknamed the “Aussie”, the Australian Dollar was created in 1966 when Australia decided to replace the Australian Pound (and shilling) with a decimal system and is now the Commonwealth of Australia’s official currency.
As of April, 2013, by some reports, the Australian Dollar is the fifth most traded currency accounting for 8.6% of the Foreign Exchange Daily Market.
Considered the world’s 12th largest economy, Australia has a Gross Domestic Product (GDP) of approximately $US 1.7 Trillion with a total wealth of approximately $US 6.74 Trillion.
Factors Affecting the AUD/USD currency pair#
As a large exporter of commodities, the AUD is also a ‘commodity currency’ or the AUD/USD is a commodity cross. As a result of commodity exports, the AUD currency is sensitive to fluctuations in commodity prices.
Other factors which bear on rising and/or falling AUD currency rates are interest rates, rates of inflation, trade balance, and the RBA which is the Reserve Bank of Australia.
Australia’s Major Export Partners
South Korea 7.90%
Australia’s Import Partners
United States 12.5%
South Korea 3.5%
Trade with ZERO Spreads or Margins
The FOREX is a zero sum game. Someone has to win, why not you?
Experience today’s evolution in trading with the greatest Binary Options & Forex Trading Platform and the first Binary Options / Forex Retail Dealing Room.