AUDSEK (Australian Dollar vs SEK). Exchange rate and online charts

AUD/SEK is not among the most popular currency pairs. This is a cross-rate pair. It means that the exchange rate of the AUD/SEK pair is calculated by reference to a third currency, namely the US dollar. Thus, when combining the AUD/USD and USD/SEK price charts, we can get a more or less clear picture of the AUD/SEK movement.

Features of AUD/SEK

AUD/SEK is not the most profitable pair. However, being a nonvolatile pair, it poses fewer risks to incur losses. This is why its exchange rate is quite steady. The quotes of this instrument are influenced by fluctuations in the commodity market.

The Swedish krona is the official currency of Sweden. This country has one of the world's leading economies. It is a major producer of engineering products and an important supplier of iron ore, non-ferrous metals, steel, and paper. A great chunk of Swedish products is exported to foreign markets. This is why Sweden is dependent on the volume of its exports. Its decrease can significantly weaken the country's economy.

Notably, Sweden is also dependent on the global price of oil and gas. Thus, a significant increase in the price of these commodities could have a negative impact on the country's economy as a whole, as well as the Swedish krona.

How to trade AUD/SEK

AUD/SEK is a low-liquid pair compared to EUR/USD, USD/CHF, GBP/USD, and USD/JPY. Therefore, when analyzing this instrument, it is necessary to focus on those pairs that are quoted against the US dollar. The US dollar has a significant impact on each currency. When predicting the price movement of the currency pair, it is important to keep in mind such major US economic indicators as interest rate, GDP, unemployment rate, and so on.

You should remember that AUD and SEK may react differently to changes in the US economy. Nevertheless, the AUD/SEK pair can serve as an indicator, reflecting the swings in the rate of both currencies.

When trading cross-rates, remember that brokers usually set a higher spread on such pairs than on the most popular currency pairs. For this reason, before trading cross-rate pairs, you should carefully study the trading conditions of the broker.