Trading devices: Trade the EUR/AUD device pair with binary options
About the EUR/AUD: The EUR/AUD device pair constitutes less than 1% of the Forex market’s transaction volume. The EUR/AUD represents the value of the Euro in Australian dollars.
EUR/AUD Characteristics: The pricing of the EUR/AUD device pair correlates with the price direction of gold. Australia is the third largest producer of gold in the world, so if the price of gold decreases, it has a direct impact on the EUR/AUD relationship.
Trade relations with New Zealand directly impact the EUR/AUD, as Australia is a significant trading partner. When the Australian economy is healthy, exports from New Zealand generally increase. You should also keep an eye on decisions from the Reserve Bank of Australia as they directly impact the Australian dollar.
The Euro’s weight in the EUR/AUD: The Euro has less of an influence of the device pair, however economic statements directly impact parity. European Central Bank decisions will affect the EUR/AUD, such as changes in interest rate or asset purchase programs.
You can trade the EUR/AUD device pair with binary options. You can also check on the price trending of the device pair by clicking here.