Trade EUR/AUD with Fondex
Thinking of trading EUR/AUD?
- 1. Classified as a "cross currency pairing," also known as simply a "cross pair," EUR/AUD exists in isolation from the United States dollar (USD), which gives traders a good pair to add to their portfolio in order to have diversity among them. Having currency pairs that are not related in neither events or monetary policies tied to the dollar will give those traders an advantage in stability and will reduce the potential volatility related to the USD. 2. Due to AUD's dependance on Gold production and exportation, the AUD is considered a commodity currency, and hence, the pair EUR/AUD is subjected to export/import economic data. It is also known for showing that the EUR/AUD will show a negative correlation to the pricing of Gold (as the AUD will increase in value when Gold does).
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