Australian dollar
The Australian dollar is a rather exotic currency and is in circulation in Australia and the Pacific region. In addition, this currency is widely used in payments for gold, minerals and certain types of products.
This currency can safely be classified as one of the most popular world currencies; it enjoys stable demand on all global exchanges.
In abbreviated form, this means of payment is written as the abbreviation AUD, which is also used when displaying quotes in currency pairs.
The value of a currency is determined through trading on the foreign exchange market, which is why the Australian dollar is one of the world's most freely convertible currencies.
The Reserve Bank of Australia is responsible for issuing coins and paper money and is also responsible for maintaining the stability of the currency.
Banknotes are issued in denominations of 5, 10, 20, 50, and 100. They are characterized by high quality production, and the paper contains a number of polymeric materials to enhance its strength.
Exchange rate changes and forex trading
Although this currency instrument is less popular than the major global currencies, it still has a fairly large following. It's ideal for beginner traders, especially if they trade exclusively during the Australian forex session.
In this case, the Australian dollar is only influenced by news from Australia itself, since the entire business world is asleep at this time, with the exception of the AUD/JPY pair, due to the fact that business activity hours in both countries are practically the same.
The AUD/USD and EUR/AUD currency pairs deserve special attention from traders, as their prices begin to change along with the price of gold, for which Australia is one of the world's leading producers.
At the same time, the Australian dollar rises, triggering an upward trend in the AUD/USD currency pair and a downward trend in the EUR/AUD pair. If the rise in gold prices is linked to an economic crisis, the existing trend is reinforced.
In addition, it should be noted that weather factors that cause a reduction in agricultural harvests have a strong influence on the value of the analyzed currency. Australia is an agricultural country, and any forecasts that contain information about crop failure may affect the exchange rate of its national currency.
Trading using this currency is quite profitable, which is facilitated by the relatively low spread on the AUDJPY, AUDUSD, and EURAUD currency pairs.
The current quote for this currency can be found here - http://time-forex.com/kotirovki
