Excerpt from: Forex Analysis
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| August 24, 2010 | | Currency trading with the Australian dollar | Currency trading with the Australian dollar should consider that it is one of the few currencies lower as compared to the U.S. dollar today. With risk aversion the story, it is little surprise that the Aussie is falling in forex trading on the currency market.
Worries about the U.S. economy -- and the global economy -- slipping into a double dip recession are foremost in the minds of many forex traders. With the U.S. dollar falling against the yen and the euro in forex trading, thanks to the latest economic data, it is little surprise that the Aussie is lower.
The Australian dollar relies on the engines of global economic growth, since it is a commodity currency that gains as demand for the tools of industry rises during times of economic expansion. With the world possibly on the brink of another recession, it is not surprising that the Aussie is lower in forex trading.
| Topic Tags: Australian dollar, currency market, currency trading, double dip recession, forex trading, risk aversion, U.S. dollar | |
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