EURAUD is a major currency pair that represents the exchange rate between the Euro (common currency of the European Union) and the Australian dollar (official currency of Australia). It measures how many Australian dollars are needed to buy one euro. Here's how the conversion works: If the EURAUD exchange rate is 1.5 for example, then 1 euro would be worth 1.5 Australian dollars.
The history of EURAUD can be traced back to the introduction of the euro in 1999, when it replaced the European Currency Unit (ECU) as the official currency of the European Union. The euro has since become one of the most widely traded currencies in the world, while the Australian dollar is also a popular currency in the global foreign exchange market.
Over the years, the exchange rate between EURAUD has fluctuated greatly due to a variety of factors, including changes in interest rates, economic performance, political events, and global market trends. Traders and investors use the pair to speculate on these fluctuations in order to profit from changes in the exchange rate.
The price history of EUR/AUD has seen significant fluctuations over the years due to various economic, political, and global factors.
In the early 2000s, the Euro was introduced as a currency, and since then, the EUR/AUD exchange rate has been volatile. In the years following its introduction, the Euro was relatively weak against the Australian Dollar, and the exchange rate reached a low of around 1.35 in 2008. However, following the global financial crisis, the Euro appreciated against the Australian Dollar, and the exchange rate reached a high of around 2.10 in 2012.
Since then, the EUR/AUD exchange rate has been fluctuating between these two levels, with occasional spikes and dips due to economic and political events such as changes in interest rates, central bank policies, and global economic conditions. Overall, the price history of this pair reflects the complex interplay between economic factors and geopolitical events that impact global currency markets.
EUR/AUD is a popular currency pair to trade because it involves two major currencies and represents the exchange rate between the Eurozone and Australia. Traders may choose to trade this pair because it could offer significant opportunities for profit due to its high liquidity and volatility.
Other currency pairs that traders may consider include major pairs such as USD/JPY, GBP/USD, and EUR/USD, as well as exotic pairs such as USD/TRY, USD/ZAR, and EUR/TRY. The choice of currency pair to trade depends on the trader's individual trading strategy and preferences. It's important to thoroughly research and analyze any currency pair before trading to minimize risk and maximize potential profits
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.