Aussie Helped in Forex Trading by Stimulus Package
by Trader Rich
Australian dollar gains in currency trading
The Aussie is moving higher in forex trading today, after the announcement of a stimulus package. It amounts to billion in Australian currency. Calculated Risk breaks it down according to what it would be compared to a U.S. stimulus package:
This is about 4% of GDP, or the equivalent of close to a 0 billion stimulus for the U.S. (as percent of GDP).
This is a fairly significant move. And, because Australia had a trade surplus (thanks to its position as a commodity provider) and a budget surplus, the country is in reasonably good shape. Compare this to the U.S., which entered the global recession in debt and with a trade deficit.
See Also
- Australian Dollar in Currency Trading
Forex trading on the currency market
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