HighSky Brokers, a.s.
Vodičkova 710/31
110 00 Prague 1
phone: +420 222 767 100
fax: +420 222 767 101
email: office@highsky.com
Please feel free to visit us on any working day from 9:00 am till 6:00 pm
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Responsible for contacts with everyone interested in financial markets
phone: +420 222 767 102
email: sales@highsky.com
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print AUDUSD The Australian dollar is closely related with commodity prices and the economic situation of Asian countries
| Bid / Ask: | 0.71192 / 0.71214 |
|---|---|
| Price change: | 0.00214 (0.30%) |
| Opening price: | 0.70978 |
| Maximum price: | 0.71491 |
| Minimum price: | 0.70880 |
| Display period: | |
| Chart type: |
Rule of thumb
Relatively high interest rates, typically associated with the Australian dollar, attract international investors searching for carry trade transactions
The AUDUSD market reflects the value of one Australian dollar in terms of the US Dollar. With the US Dollar as the most traded currency in the world and the Australian dollar being fifth in the same rank, the AUDUSD currency pair as such accounts for around 6% of the total turnover on the global FOREX market.
The value of the Australian Dollar is strongly related with commodity prices, due to the fact that Australia is a significant exporter of commodities (mainly mineral resources). On the other hand, the US Dollar is the currency used for the settlement of commodity transactions, and is also treated as a reserve currency.
Its impact on the AUDUSD market have economic events in both the United States and Australia. Because of its geographical location, Australia relies on the situation on Asian markets, as well as neighbouring New Zealand. Strong correlation with Asian and New Zealand currencies may be observable.