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AUDUSD is the ticker symbol for the Forex pair Australian Dollar/United States Dollar, one of the major currency pairs as it’s one of the most traded in the world, it ranks as the 4th most liquid currency pair; however it is not included in the basket for the US dollar Index (USDX).
We cover how this highly traded currency pair is strongly related with commodities in much more detail below.
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A currency pair shows you how much of one currency is required to purchase one unit of another currency.
The first three letters of the quote represent the abbreviation of the base currency in this case AUD, while the second shows the abbreviation of the terms currency (also known as quote currency since the actual quote is given in this currency) which in this case is USD.
The Australian Dollar is referred to as a commodity currency since it has a heavy dependence on its export of raw materials and natural resources. Australia is one of the richest countries in the world in natural resources.
The pair AUD/USD is affected by economic factors that influence the value of the Australian Dollar in relation to the United States Dollar and other currencies.
These factors are typically related to the production of commodities, economic sentiment, interest rates, and the correlation it has with other forex pairs.
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