Aussie

In forex trading, the term Aussie refers to the Australian dollar.

The Australian dollar is generally considered a commodity currency, because the Australian economy is largely commodity-based and therefore the value of its currency tends to follow the prices of certain commodities.

The publishing of commodity production reports, such as those released by the Australian Bureau of Agricultural and Resource Economics and Sciences, directly impact the value of the Australian dollar, and should be reviewed by serious forex traders who invest in it.

Most Swiss forex brokers offer the AUDUSD and the USDAUD currency pairs. The EURAUD, GBPAUD, AUDJPY pairs are aslo commonly offered.

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Daniel Dreier is editor and personal finance expert at moneyland.ch.

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