Selecting a trading instrument is one of the tasks a trader has to solve. In order to do this correctly, you need to know about the peculiarities of certain currencies. Today I want to talk about one of them. Australian dollar is a popular currency among traders. Pair AUD/USD often shows high volatility, which allows you to successfully use it in trading to obtain a stable income. The greatest activity in the market on this currency pair is observed during the Pacific and American sessions. The range of price movement during the day can be 100 and more points. AUD/USD is a predictable instrument for trading. But in order to make a quality forecast, you need to know about the main factors that affect its course.
Factors on which the AUD rate depends
Australia is a major exporter
raw materials. In this regard, the exchange rate of its national currency is influenced by the dynamics of prices for
commodity markets. A trader needs to keep track of it.AUD price also in many ways
depends on the economic indicators. Statistical outputs are often
is accompanied by strong movements. One of the most important indicators
is the growth rate of consumer prices (inflation). It’s also necessary to turn
attention to the dynamics of GDP, retail sales and unemployment.Australia is a developed country
agriculture, the products of which are exported to different countries of the world. А
Agricultural production is heavily dependent on
natural factors. Therefore, adverse weather conditions or natural
cataclysms can have a negative impact on the agricultural sector of the country. On him.
accounts for a significant part of the Australian economy.Around half of Australia’s total exports are gold and gold products. In this regard, the exchange rate of its currency correlates with the value of gold. The growth of the precious metal market is always accompanied by the strengthening of AUD. The trader who chose Australian dollar for trading should monitor the situation in the gold market.Because it’s Australian
The economy is export-oriented, it depends on
the situation in the economies of major trading partners. And this is China and Japan. Important…
Economic news from these countries may have an impact on the course
Australian dollar.And finally, on the dynamics
AUD/USD prices will be influenced not only by Australian factors, but also by events,
taking place in the United States.Australian dollar paired with dollar is recommended for beginner traders due to its predictability and high volatility. Having a tested trading system on a demo account, a trader will be able to have a stable income.Fyodorov’s Inga03.07.2019