AUD/SGD

AUD/SGD CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the Australian Dollar against the Singapore Dollar.  

The Australian Dollar, issued in Australia, holds a notable share of the foreign exchange market. According to the 2022 BIS Triennial Central Bank Survey, it is the sixth most traded currency globally. Australia is perceived to have strong economic ties with China, and the Australian Dollar may experience fluctuations in response to Chinese economic indicators and related factors.  

The Singapore Dollar, issued in Singapore, is managed by the Monetary Authority of Singapore (MAS) through an exchange rate policy, where it is allowed to fluctuate within a policy band against a trade-weighted basket of currencies.

Singapore's economy is heavily reliant on trade, finance, and manufacturing. Therefore, the AUD/SGD currency pairing will be influenced by the differences in the Australian and Singaporean economies, and also the global trade environment.