CMTrading Daily

The AUD/USD currency pair is one of the major forex pairs on the currency markets and is usually referred to as the Aussie. Australia is a major exporter of commodities and therefore the exchange rate of AUD/USD is strongly affected by international trade and demand for natural resources such as copper, coal and iron.

The continuing trade tensions between the United States with China and Europe and the economic slowdown unfolding have already increased gold’s value to a seven year high before the fear of the coronavirus’s effect on industrial production, international trade and tourism further attracted interest in investors who are risk adverse.