Australia is a service orientated economy and bases much of its value on the finance sector. The so-called Big Four Australian banks are amongst the safest in the world. So, when there’s an issue with these the AUD can suffer. It is similar to the Canadian Dollar in that it is closely linked to commodities so variations here can have an impact on the price of AUD.

When trading this pair, you should look at the wider economic news in both countries to decide whether you think one is going to depreciate or appreciate faster than the other. For example, should AUD fall against the USD you might swap AUD ahead of time. Equally, an increase in exports could see the currency under-perform, while an inflow of imports will may serve as a boost.

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