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Thinking of trading AUDZAR?

    1. The Australian economy is heavily dependent on the trade in and out with China. One third of their exports go to China, so whenever the Chinese economy shows fragility, the AUD may fall in relation to other pairs, including the Canadian dollar. Subsequently, a strong Chinese economy will support the AUD. This information on external factors also help to analyse the pair's direction. 2. South Africa is rich in sectors that mainly comprise mining, fishing and agriculture. Its historically strong industry has been the mining of diamonds and gold, making South Africa one of the leading processing nations in the world. Due to the potential of this industries, trading USD/ZAR can be a great asset to add to your portfolio.
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"South Africa is Australia's largest export market in Africa." - Australian Government Department of Foreign Affairs & Trade. Imports from South Africa total A$1,700 million, while exports to South Africa total A$1,590 million. As of August 2016, South Africa had regained the top spot as Africa's biggest economy, based on GDP.In 2015, South Africa was ranked 32nd in GDP, while Australia ranked 12th. In 2014, South Africa was the 36th largest exporter and the 33rd largest importer in the world, while Australia was the 21st biggest exporter and 21st biggest importer. South Africa's top exports include diamonds, gold, platinum, iron ore, and coal briquettes, while its top imports include crude petroleum, cars, refined petroleum, gold, and computers.The AUD was preceded by the imperial system's Australian pound, and the country chose to substitute it with the Australian dollar in 1960s. Australia's physical closeness to the Asian continent has made of imports and exports a deciding factor in the Australian currency.

1. The Foreign Exchange Operations section of the Financial Markets Department at the South African Reserve Bank is in charge of executing the country's foreign exchange policy. Its functions include monitoring the developments that occur in international and local markets, accumulating foreign exchange reserves, and conducting money market swaps in forex for liquidity management of the rand. 2. Because of the countries' floating exchange rate system, the AUD/ZAR exchange rate will be determined by supply and demand for these currencies within the foreign exchange market. 3. South Africa has an abundance of natural resources and mineral deposits, so the exchange rate of the South African rand is influenced by developments within global commodities markets, as is the AUD. As commodity currencies, both the AUD and ZAR can be affected by slowing in major commodity consuming nations such as China and the U.S.