Trade EURAUD

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Thinking of trading EURAUD?

    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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EUR/AUD is a relatively new pair to trade and has become a mainstay very quickly. The euro was introduced at the beginning of the 20th century and the Australian dollar replaced the Australian pound in the 1960s. The pair EUR/AUD is considered a "minor" cross.Due to its proximity with asian countries, import and export has been decisive to the pair. Since 1992 the highest peak was no so long ago, in 2009 trading at 2. 01910, its lowest point coming only 3 years after that in 2012, when it dropped to 1.16461. Nowadays, the pair is trading at 1.6184. As it is logical, the pair presents almost perfect negative correlation (above -96%) with pairs such as AUD/JPY, AUD/USD, AUD/CAD and SGD/JPY

1. The EUR/AUD can serve as a diversification pair against risk, it is also prone to see substantial periodic swings in prices, which can be seen in the volatility present in 2008. Traders should keep this in mind in the event they decide to trade this pair. 2. The proximity with New Zealand, Japan and China can help out traders when making their trading decisions. As their main exporter their economic health depend on their trade relationships. Keep a close eye to the surrounding countries in order to gauge a market sentiment.

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