12 Aug 2020 18:38
Closing price, the previous day.
The highest price over the last trading day.
The lowest price over the last trading day
Price range high in the last 52 weeks
Price range low in the last 52 weeks
AUD/HKD is not a very popular currency pair on Forex market. AUD/HKD represents the cross rate against the U.S. dollar. Although the U.S. dollar is not obviously presented within this currency pair, it still has a significant influence on it. Thus, by combining AUD/USD and USD/HKD charts, you can get an approximate AUD/HKD chart.
The U.S. dollar has a significant influence on both currencies. For this reason it is necessary to take into account the U.S. major economic indicators for the correct prediction of a future course of this financial instrument. These indicators include: the discount rate, GDP, unemployment, new created workplaces and many others. Is necessary to note that AUD and HKD can respond differently towards the changes in the U.S. economy, therefore, AUD/HKD currency pair can be a specific indicator reflecting changes within the two currencies.
Hong Kong is famous for having one of the largest stock exchanges. The country leapfrogs a number of major European and American stock exchanges. As of today, Hong Kong takes a leading position among the top financial centers all over the world.
Hong Kong's economy is based on the free market principle, low taxation, and the non-interventional policy. Hong Kong lacks a mineral and food resources, which is why its economy depends on the mentioned above factors. Most of Hong Kong's income is generated by service industries, as well as re-exports from China. In addition, the tourism sector is well developed, too.
AUD/HKD is relatively illiquid compared with major currency pairs such as EUR/USD, USD/CHF, GBP/USD, and USD/JPY. Therefore, while analyzing this financial instrument, one should focus primarily on the currency pairs that include the U.S. dollar.
If you trade cross rates, it is necessary to remember that brokers usually set a higher spread for this currency pair than for more popular ones, so before you start working with the cross rates, learn carefully the conditions offered by the broker to trade with specified trading instrument.