The currency pair is the euro - the Australian dollar (EUR / AUD).
The European economy is steadily growing, which is reflected in the euro exchange rate. By 2018, unemployment rates in a number of countries are at a minimum level. The situation in the EU affects all countries in Europe, even those who are not part of the European Union or have not introduced the euro and have retained their national currency.
The Australian dollar, also called the "aussie", is a typical commodity currency, as its price is influenced by the prices of minerals exported by Australia. The largest importer of iron ore, coal and other natural resources is China, the state of its economy also has an impact on the volume of exports and, accordingly, the rate of the Australian dollar.
The trade turnover between the European Union and Australia is not decisive for the economies of these regions. The volume of exports from the European Union to Australia is 1.8% of the total exports of the EU and is on the 15th place. Import from Australia to the EU is on the 26th place with a share of 0.8%. The main products that Australia exports are coal, gold, some fruits and lead, cars from Europe to Australia, spare parts to them and pharmaceutical products.
The currency pair EUR / AUD is built on the principle of direct quotation. The base currency is EUR, euro, and quoted - AUD, the Australian dollar. The growth of the currency pair means strengthening of the euro against the Australian dollar, that is, to buy EUR, more AUD is required. The downgrade indicates strengthening of the AUD. Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
Euro (currency sign - €, bank code: EUR) - official currency of 19 eurozone countries (Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia , Finland, France, Estonia). Also, the currency is used in nine countries that are not members of the euro area. The Euro is managed by the European System of Central Banks (ESCB), led by the European Central Bank (ECB).
The Australian dollar (bank code: AUD), the official currency of the Commonwealth of Australia, also has circulation on the islands of Christmas, Cocos Islands and Norfolk Island. In addition, AUD has circulation in the states: Kiribati, Nauru and Tuvalu. The issue of the Australian dollar, as well as the regulation of the Australian banking and monetary system is carried out by the Reserve Bank of Australia (RBA).
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