Commodity currencies crash on USD dominance

<p><a href="https://admiralmarkets.com/analytics/traders-blog/commodity-currency-crash-usd"><img data-resize="auto" data-resize="auto" data-resize="auto" style="width:auto;" data-src="https://fxmedia.s3.amazonaws.com/articles/Commodity_currencies_crash_on_USD_dominance.jpg" alt="Commodity currencies crash on USD dominance" rel=""></a></p><p>The US dollar – which had been the worst-performing currency over the past few months – has roared back to life as investors weigh up the prospects of a second wave of the coronavirus and new national lockdown measures.</p><p>
The dominance of the currency which is set to record its best week since April has hit commodity currencies particularly hard. The Australian dollar vs US dollar (<a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/audusd" target="_blank">AUDUSD</a>) exchange rate has fallen more than 5% in September already, a huge amount in the five-trillion dollar a day currency market.
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Other commodity currencies such as the New Zealand dollar, South Africa rand and Mexican peso have also been hit hard. The general 'risk-off' mode this week has also infected global stock markets which are on track for the fourth week of declines.
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If you are feeling bullish or bearish on the price of AUDUSD or other global currencies, you can speculate on its price direction using CFDs. To get started, follow these five simple steps:
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<li>Log in to your existing Admiral Markets trading account, or open a <a href="https://admiralmarkets.com/signup" target="_blank">live</a> or <a href="https://admiralmarkets.com/start-trading/forex-demo" target="_blank">demo trading account</a> in just a few minutes. </li>
<li>Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform. </li>
<li>Type in AUDUSD, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart. </li>
<li>Use the one-click trading feature on the chart or right-click on select Trading -&gt; New Order. </li>
<li>Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.</li>
</ol><p><img data-resize="auto" src="https://fxmedia.s3.amazonaws.com/articles/Admiral_Markets_MetaTrader_5_Web,_AUDUSD,_Weekly.png" alt="Admiral Markets MetaTrader 5 Web, AUDUSD, Weekly" rel="" /></p><p><em>Source: Admiral Markets MetaTrader 5 Web, AUDUSD, Weekly – Data range: April 13, 2014, to September 24, 2020, performed on September 24, 2020, at 7:09 am BST. Please note: Past performance is not a reliable indicator of future results.</em></p><p><em><br></em></p><p>
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</p><a href="https://admiralmarkets.com/start-trading/forex-demo"><img data-resize="auto" src="https://fxmedia.s3.amazonaws.com/articles/Demo_Account_CTA-17.png" alt="Trade With A FREE Demo Trading Account" rel="" /><p><br></p></a><p><strong>INFORMATION ABOUT ANALYTICAL MATERIALS:</strong></p><p><em>The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:</em></p><p><em>1.This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.</em></p><p><em>2.Any investment decision is made by each client alone whereas Admiral Markets UK Ltd (Admiral Markets) shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.</em></p><p><em>3.With a view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.</em></p><p><em>4.The Analysis is prepared by an independent analyst Jitan Solanki, Freelance Contributor (hereinafter "Author") based on personal estimations.</em></p><p><em>5.Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.</em></p><p><em>6.Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.</em></p><p><em>7.Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the </em><a href="https://admiralmarkets.com/risk-disclosure" target="_blank">risks involved</a><em>.</em></p><p><a href="https://admiralmarkets.com/start-trading/forex-demo"></a><em><br></em></p>