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The AUD/USD is a currency pair that is also known as the “Aussie”. At the moment, the price of one Australian dollar is equal to 0.76 US dollars. The traders who prefer this currency pair know that how many United States Dollars they require to buy one Australian Dollar. The Australian dollar is actually a commodity currency like the Canadian Dollar or New Zealand Dollar.
AUD/USD CORRELATIONS
Australia is one of the biggest exporters to China. Its currency as well as economy reveals any sort of changes in the conditions in China. The overarching view is that AUD offers a lot of advantages in a portfolio containing the major currencies of the world as a result of its more prominent exposure to all the Asian economies.
This relationship with the Shanghai stock trade is to be added to the link it has with gold. The AUD/USD currency pair regularly rises and falls alongside the cost of gold. In the economic world, gold is seen as a place of haven against inflation and it is a standout amongst the most exchanged commodities.
Australia’s reliance on commodities (gold, silver or oil) exports has seen the AUD rally amid worldwide development periods and drop when mineral costs drooped, as commodities now represent a large portion of its aggregate fares.
AUD/USD FORECAST
AUD/USD is one of the major currency pairs like EUR/USD, USD/JPY, GBP/USD, USD/CHF, etc. However, traders would need the right analysis, indicators, and predictions to make the most out of this currency pair.
So, they have to contact the best AUD/USD signal provider that can provide the right AUD/USD forecast. The Forex and commodity trading signals are offered by many companies but it is important to hire the ones that have a good reputation.
AUD to USD FORECAST 2017
According to the evaluation and analysis of different traders, it has been noted that in the months of November and December, AUD/USD will continue to move towards 0.741-0.75.
FACTORS THAT INFLUENCE AUD/USD CURRENCY PAIR
There are different factors that affect the moves of AUD/USD pair. They are explained below:
- The Federal Reserve of US is the first one. The president of Federal Reserve is Janet Yellen. This organization controls and manages the monetary policy all the way through duties like controlling interest rates. Not just that, it also includes acting as a lender of the last position to the banking sector throughout the times of the bank financial crisis.
- The RBA or Reserve Bank of Australia that provides statements. Not just that, it also makes choices on the interest rates of the country. The president of this organization is Philip Lowe.
- Australian and US governments.
- The Department of Finance of the Australian government that executes the policies. These policies have an impact on the economy of the country.
What AUD/USD traders have to look?
The AUD/USD traders have to look at different things in terms of economic data. These things are explained below:
- A trader should keep an eye on Gross Domestic Product. It is actually the measure of the market activity as it shows the pace at which the country’s economy is rising or falling.
- Traders must observe the Current Trade Balance.
- Inflation has to be measured with the help of key indicators like PPI and CPI.
FINAL WORD
All the AUD/USD traders must understand that they have to observe different factors and things that affect this currency pair. The new and expert traders need to hire professional AUD/USD signal provider that is proficient in offering AUD/USD signals. It is important to get the reliable predictions at the right time.
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