The Australian dollar is considered the barometer of the health of the global economy. Why is this currency given such a title?
This is because Australia's biggest economical sector is mining. And this is the raw minerals used in constructions and development. When economies of the world slows with their developments and constructions the raw minerals have no more demand causing their prices to drop. Ultimately it would affect the Australian dollar as people do not buy the minerals no more.
This is because Australia's biggest economical sector is mining. And this is the raw minerals used in constructions and development. When economies of the world slows with their developments and constructions the raw minerals have no more demand causing their prices to drop. Ultimately it would affect the Australian dollar as people do not buy the minerals no more.
