Live Forex Rates - AUDUSD
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Is another popular and most frequently-traded currency pairs, the “Aussie” tells traders how many US Dollars are needed to buy one Australian Dollar. Factors which may affect the value of AUD to USD are the production of commodities in Australia (Copper, Coal & Iron Ore) plus business environment & political issues in China may also affect the AUDUSD. The currency pair will also be affected by the interest rate differential between the Reserve Bank of Australia (RBA) and the US Federal Reserve.
- The Central Bank is the Reserve Bank of Australia.
- The AUD was introduced in February 1966 to replace the Australian Pound and is currently around the 5th most traded currency in the world, behind the US Dollar, the European EURO, Japanese Yen and UK’s Pound Sterling.
- AUD gives greater portfolio exposure to neighbouring Asian economies and has strong ties to China which affects performance of the Australian economy.
- Is known as the “Commodity Currency” because of natural resource exports of Coal, Iron Ore, Copper, Gold, Natural Gas, Uranium and Renewable Energy.
- The Central Bank of the United States is the Federal Reserve (sometimes referred to as the Fed).
- USD is the main global reserve currency and the United States of America (U.S.A) is the largest economy in the world.
- The (US Dollar) USD is used to price most global commodities (including Oil and Gold).
- The US has a well developed economy with high productivity levels and is fuelled by huge natural resources.
- The International Monetary Fund (IMF) states that the US Gross Domestic Product (GDP) is $15 trillion and makes-up c. 23% of global GDP to exchange rates.
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