AUD (Australian dollar)

    By
    Andrey Orlov
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    0

    The Australian dollar is the official currency of Australia and is the 5th most traded currency on the forex market.

    Traders also call the Australian dollar the Aussie.

    Currency symbol: A$
    Currency shortcut: AUD

    Trading the Australian dollar

    Australia has relatively high interest rates compared to other developed economies, such as the United States and the United Kingdom. Traders have a significant interest in trading the Australian dollar because the interest rate disparity can often be used for effective carry trades.

    The most traded currency pairs containing the AUD are:

    Australian dollar and US dollar:AUD/USD
    Australian dollar and euro:AUD/EUR
    Australian dollar and Japanese yen:AUD/JPY

    The Australian dollar tends to correlate closely with the price of gold. Learn why this is the case and what this means for trading the Aussie:

    How correlating markets impact forex trading

    The Australian dollar has enjoyed considerable growth in strength over recent years, mainly due to growth and demand from the Chinese economy for Australian raw materials. Read more about the factors that influence the strength of a currency by visiting our fundamental analysis section:

    Forex fundamental analysis