AUD/USD is the price of one Australian dollar in US dollars. Known as the “Aussie”, it behaves like a gauge of global growth: it tends to rise when commodity prices, Chinese demand and risk appetite are strong, and to fall when they weaken. Reserve Bank of Australia and Federal Reserve policy set the background.
Key takeaways
- The Australian dollar accounts for about 6% of global currency trading (BIS, April 2025), large for an economy of Australia’s size.
- Iron ore, coal and natural gas dominate Australia’s exports and China is its largest customer, so Chinese data often moves the Aussie more than Australian data.
- The pair is busiest in Asia-Pacific hours. The Reserve Bank of Australia announces decisions at 14:30 Sydney time.
- One pip is 0.0001 and is worth $10 on a standard lot.
- The Aussie tends to fall quickly when markets turn risk-averse, and it is among the first currencies to trade after the weekend.
| What the quote means | US dollars needed to buy one Australian dollar |
|---|---|
| Base / quote currency | Australian dollar (AUD) / US dollar (USD) |
| Nickname | Aussie |
| AUD share of FX turnover | About 6% of trades (BIS, April 2025) |
| Pip | 0.0001, the fourth decimal place |
| Pip value, 1.00 lot | $10 |
| Contract size, 1.00 lot | 100,000 AUD |
| Most active window | Asia-Pacific morning, roughly 00:00–06:00 UTC, then US data |
| Central banks to watch | Reserve Bank of Australia, Federal Reserve |
| Symbol at Marketsall | AUDUSD |
What is AUD/USD and how is it quoted?
The Australian dollar is the base currency, so a price of 0.6500 means one Australian dollar costs 65 US cents. A rising chart means a stronger Aussie or a weaker US dollar. Because the price is well below 1, a standard lot is worth fewer US dollars than a lot of EUR/USD, which matters for margin, as the example below shows. For the basics, see what forex trading is and major, minor and exotic pairs.
What moves AUD/USD?
| Driver | How it tends to work | What to watch |
|---|---|---|
| Commodity prices | Australia is a major exporter of iron ore, coal and liquefied natural gas. Higher prices improve its trade balance and tend to support the currency. | Iron ore, coal and LNG prices, how the US dollar affects commodities |
| China | China buys the largest share of Australian exports. Signs of stronger or weaker Chinese demand feed straight into the Aussie. | China PMIs, property and stimulus news |
| Interest rate expectations | The gap between Reserve Bank of Australia and Fed expectations works as it does for every pair. | RBA decisions, Australian CPI and jobs, FOMC meetings |
| Risk sentiment | The Aussie is a classic risk-on currency. It tends to rise with equities and fall when investors seek safety. | Equity indices, volatility, risk-on vs risk-off |
| US data | The dollar side still matters. Strong US data that lifts the dollar pushes AUD/USD lower. | US CPI, Non-Farm Payrolls |
These drivers often point the same way. Strong global growth lifts commodity prices, Chinese demand and risk appetite together, which is why the Aussie can trend for months. It is also why it falls hard when the cycle turns.
When is AUD/USD most active?
| Event | Local time | UTC | Frequency |
|---|---|---|---|
| RBA rate decision | 14:30 Sydney | 03:30 (Oct–Apr) / 04:30 (Apr–Oct) | Eight times a year |
| Australian jobs data | 11:30 Sydney | 00:30 / 01:30 | Monthly |
| Australian CPI | 11:30 Sydney | 00:30 / 01:30 | Monthly |
| China official PMIs | 09:30 Beijing | 01:30 | Monthly |
| US CPI and Non-Farm Payrolls | 08:30 ET | 12:30 summer / 13:30 winter | Monthly |
Australia’s clocks move in the opposite direction to Europe’s and North America’s, so the UTC times above shift twice a year. Full details are in global market trading hours. Track releases in the economic calendar.
AUD/USD pip value and position size
| Lot size | Units | Value of 1 pip | Value of a 50-pip move |
|---|---|---|---|
| 1.00 (standard) | 100,000 AUD | $10.00 | $500 |
| 0.10 (mini) | 10,000 AUD | $1.00 | $50 |
| 0.01 (micro) | 1,000 AUD | $0.10 | $5 |
Suppose AUD/USD is at 0.6500 (an illustrative price) and you open 0.10 lots. The position is worth A$10,000, or $6,500. At 1:200 leverage the margin is only $32.50. The pip value is still $1, so a 50-pip move against you costs $50, about one and a half times the margin. A low price makes the margin look small; it does not make the position small. Size the trade with position sizing.
AUD/USD vs NZD/USD vs USD/CAD
| Feature | AUD/USD | NZD/USD | USD/CAD |
|---|---|---|---|
| Key exports | Iron ore, coal, natural gas | Dairy, meat | Crude oil, natural gas |
| Main outside influence | China | China and Australia | United States |
| Dollar position in the quote | Quote currency: commodity strength lifts the price | Quote currency | Base currency: commodity strength lowers the price |
| Pip value per 1.00 lot | $10, fixed | $10, fixed | 10 Canadian dollars, varies in US dollars |
| Central bank | Reserve Bank of Australia | Reserve Bank of New Zealand | Bank of Canada |
| Read more | This guide | NZD/USD guide | USD/CAD guide |
AUD/USD and NZD/USD usually move together, so holding both in the same direction doubles one view rather than adding a second. See correlated positions.
What it costs to trade AUD/USD as a CFD
At Marketsall AUD/USD is traded as a CFD: no currency is delivered and your account is credited or debited with the price difference. See what a CFD is and spot FX vs CFDs.
| Cost | When it applies | Note for AUD/USD |
|---|---|---|
| Spread | Every trade, at entry | Tightest in Asia-Pacific and London hours, wider late in the New York evening |
| Commission | Not charged on currency trades at Marketsall | Cost is built into the spread |
| Swap | Positions held past the daily rollover | Depends on the gap between Australian and US rates and on your direction. See triple swap Wednesday. |
| Slippage | Fast markets, gaps, news | Most likely around RBA decisions, Chinese data surprises and US releases |
Key risks
Growth shocks. Bad news on China or commodities can move the Aussie more than any Australian release.
Risk-off moves. The pair can fall quickly when equities sell off.
Weekend gaps. Asia-Pacific markets open first after the weekend, so gaps show up here early. See holding trades over the weekend.
Leverage. A low price means low margin per lot, which makes oversizing easy.
Risk warning. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on this website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money.
Frequently asked questions
Why is the Australian dollar called a commodity currency?
Raw materials such as iron ore, coal and natural gas make up a large share of Australia’s exports. When their prices rise, Australia earns more from trade and demand for its currency tends to increase. When they fall, the opposite happens, so AUD/USD often moves with commodity prices.
How much is one pip worth in AUD/USD?
One pip is 0.0001. On a standard lot of 100,000 Australian dollars a pip is worth $10, on a mini lot $1 and on a micro lot $0.10. The value is fixed in US dollars because the US dollar is the quote currency.
How does China affect AUD/USD?
China is the largest buyer of Australian exports, especially iron ore. Stronger Chinese growth, construction or stimulus tends to lift demand for those exports and support the Australian dollar. Weak Chinese data tends to weigh on it, often more than Australian data does.
When is AUD/USD most active?
AUD/USD is most active in the Asia-Pacific morning, roughly 00:00 to 06:00 UTC, when Australian and Chinese data are released and the Reserve Bank of Australia announces decisions. A second active period follows US data releases from 12:30 UTC in summer or 13:30 UTC in winter.
Why does AUD/USD fall when markets are nervous?
Investors treat the Australian dollar as a growth-sensitive currency and the US dollar as a safe haven. When markets are stressed, money moves out of growth-linked assets and into dollars, which pushes AUD/USD lower even if nothing has changed in Australia.
Related reading
Learn to read China's PMIs
China's official PMIs are released at 01:30 UTC, in the middle of the Aussie's most active hours. PMI surveys: why traders watch them explains what the 50 line means and which sub-indices traders check first.
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