EUR/AUD Euro / Australian Dollar

EUR/AUD is a forex market that pairs the Australian dollar with the euro, telling you how many AUD it takes to purchase one euro at the current exchange rate.

Both the euro and the Australian dollar are considered major currencies, but as this pair doesn’t contain the US dollar it is classed as a minor market and may see lower liquidity than more-traded pairs.

AUD is a well-known commodity currency and can be heavily influenced by the price of iron, gold, natural gas and other commodities. EUR/AUD may also see movement from central bank decisions in either economy.

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Interesting facts

The Australian dollar is commonly referred to as the Aussie. The AUD has grown in popularity over the past few years since it tends to have a higher yield than many other currencies in the developed markets, making it attractive for traders looking for yield. Additionally, it also tends to attract attention because of its strong links to commodities, as Australia is a large commodity exporter, and consequently their growing trade relations with Asia. As such, the AUD is also known as one of the major commodity currencies. AUD/USD is the most popular of the AUD crosses.

Price drivers

The Aussie can be influenced by several macroeconomic factors, such as the Reserve Bank of Australia (RBA) raising or lowering interest rates, GDP, employment figures, trade balance and inflation data. Rhetoric/comments from Australia’s central bank officials can also have a significant impact on the Aussie. The AUD/USD also tends to have a higher beta and is therefore more sensitive to rising or falling equity and commodity prices compared to other crosses. Consequently, traders will want to keep a close eye on the S&P500 in the US as well as the prices of gold and copper as they have a high positive correlation with AUD/USD.

Pivot Points

  • Pivot Point
  • Distance

    Distance

    Distance shows the difference between the pivot point and bid rate. It is calculated by subtracting the ask rate from the pivot point rate.

  • Bid
  • Ask

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Understanding Pivot Points

Pivot points are used by traders as a predictive indicator and denote levels of technical significance. When used in conjunction with other technical indicators such as support and resistance or Fibonacci, pivot points can...Read More
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