Asian stocks trading on positive foot recovering from early losses on profit taking ahead of NFP report later on the day. Asian markets rallied during the week on recovery hopes after the coronavirus crisis.
In this section, you will find important AUDUSD news, actionable trading ideas, and a live Australian Dollar chart (AUDUSD) to help you understand the Forex markets better.
AUDUSD is also known as Aussie between forex traders, is the ticker symbol in FX markets that represents how many US dollars you can buy with one Australian dollar. The price of the pair is affected by changes in both economies and could be affected by changes in monetary policy from the Reserve Bank of Australia and the Federal Reserve (FED). The Australian dollar was floated in 1983, and its value closely tracks commodity prices and the Australian Terms of trade. The Australian Dollar’s strong link with commodity prices is because Australia is one of the worlds biggest exporter of commodities such as liquefied natural gas, coal, iron ore, aluminum ores, wheat, and beef.
The Aussie is one of the most liquid traded forex pairs in the global markets, and its fluctuations affect many companies around the world. More than three-quarters of Australia’s exports are to Asia, and Aussie is therefore often used as a proxy bet on Asia, and in particular China. If Asian currencies (Yen, Hong Kong Dollar, Baht etc.) are under downward pressure, in general so is the AUDUSD.
Live AUDUSD Chart
Australian Dollar News (AUDUSD)
AUDUSD is leading losses among the majors in today’s Asian session despite reports from Australia coming in better than expected.
AUDUSD rallied to its new year-to-date highs early on in today's trading. However, the currency pair gave up some of its gains after the release of Australia's GDP report.
The Australian GDP is expected to fall from 0.5% to -0.4%, but the RBA's actions may allow the AUDUSD to surmount any bearish pressures.
AUDUSD is testing a critical resistance level after the RBA kept rates unchanged and made no mention of the Aussie's recent rise.
AUDUSD is leading gains among the majors in today’s Asian session as the USD weakened across the board. Can it rally to the 0.7000 handle?
Asian markets finished mixed amid rising tensions between China and the USA after yesterday President Trump said he plans to take action against China this week over the national security laws on Hong Kong
Asian stocks finished lower on Friday amid an escalation in tensions between China and USA. Hong Kong stock market slumped on news that China's government is planning
AUDUSD is leading losses among the major currencies after RBA Governor Lowe hinted at the possibility of further easing. He even mentioned negative rates!