The Australian dollar is the national currency of the Australian Union and neighboring areas. The Australian dollar is one of the major Forex currencies and takes sixth place in the rating of popular world currencies. The foreign trade volume is 5% of the total capital turnover of the foreign exchange market. The currency pair of the Australian dollar to USD (AUD/USD) is trendy among novice traders since it has no sharp leaps as other popular pairs. It is also known as Aussie among traders.
AUD/USD has high liquidity.
China and Japan, as well as the USA, are top partners of Australia. That's why the condition of the Asian region in the economic plan drastically influences the rate of the Australian dollar.
The Australian dollar is correlated with raw materials. In addition to gold, Australia also exports oil and naturally occurring minerals.
Aussie depends on the Reserve Bank of Australia, so it's highly recommended to pay attention to the news regarding this regulator.
The Australian economy is characterized by stability, decentralization of state intervention in the formation of the currency rate, and a high-interest rate, which is very attractive for traders and investors. The Australian dollar is actively traded on Forex, that's why there is a lot of external sources of information on it, such as Investing. The currency pair of the Australian dollar to the US dollar is in a positive correlation with gold. The interrelation of gold and an Australian dollar is very strong. Growth of the price of gold leads to growth in the AUD/USD currency pair, since income increases from the export of this metal. The Australian dollar is used in carrу trade - a way of speculating on the difference in interest rates and the opening of transactions for a few days that bring profit due to positive swaps.