The Swedish krona is the Swedish currency approved on the official level. It has a ninth place in the world if we speak about trading. Its medium volume for the day is about 56 million US dollars. However, it’s not the main asset currency. Sveriges Riksbank issues it.
In 2012, a non-professional artist and a freelancer issued fake coins worthy of ten kroner. The necessary quote was replaced with “Vår horkarl till kung,” which means “Our whorer of a King.”
Coins were actively spread among people, but they provoked various reactions. The artist wasn’t scared of being judged by the Court for the issuing counterfeit currency.
The following thing may sound strange to you: this currency is the most often one to counterfeit even though the Swedish country is used only in Sweden.
Moreover, Sweden was among those who abandoned gold coins, after all. They were used up to 1902.
The Australian dollar is the Australian currency on the official level. It has the fifth place to speak about trading (worldwide). Its medium daily volume reaches 174 million US dollars.
This currency has the sixth position (speaking about the frequency of involving the reserve currency). It’s 1.8% of the world’s currency. RBA, or the Reserve Bank of Australia, issue it.
The Australian dollar is frequently mentioned as the Pacific Peso. Besides, a one-dollar Australian note doesn’t exist because the least one is a five-dollar one.
The cost of the Australian dollar is changed along with the price of gold. The connection is simple: Australia is the third-largest exporter of this metal worldwide.
As long as Europeans first settled in the country in 1788, the barter system was widely used. Rum was the main thing for the exchanges. Such tradition remained for about one hundred years.
Krona’s value is connected with the policy of Sveriges Riksbank, the Swedish economic characteristics and it’s trading partners, mostly European countries (Norway and the USA are the most significant ones).
Moreover, as in plenty of other currencies, the trading terms of the issuing country have a significant influence on krona’s cost. In the situation with Sweden, exports play an essential role as long as industrial commodities (such as cars, engines and telecommunication stuff) account for more than 44% of the GDP. The global economic crisis may lead to the fall of the krona.
The Australian dollar’s value depends on the commodity prices and trading terms – import and export prices ratio. Australia exports copper, coal, iron, and oil. That’s why any fluctuations in trading volume and product prices can lead to changes in AUD.
The currency’s cost is also connected with the volume of international obligations in the country. The rise in this sphere can provoke a fall in the AUD’s value concerning the currencies of the major trading partners.
Besides, the differential between the RBA’s interest rate and the discount rate of other Central Banks may also have an influence as long as the money may flow to the countries with higher interest rates and the countries with the lower ones.
The majority of Forex traders aren’t well aware of the Swedish economy. Sweden generally involves technologies fast. Accordingly, in the mentioned pair, there is a correlation with NASDAQ.
There can be a difference in discount rates when this currency pair is mentioned because in Australia they are lower compared with Sweden and Scandinavian countries.
To sum up, the pair isn’t considered to be a top one, but it can become beneficial for those who are aware of the high technologies market and products market. As long as they are somewhat connected, you will be able to forecast the trend of the pair for the future.