The currency pair EURAUD reflect the relation of European currency against the Australian dollar. In this couple, the euro represents base currency and the Australian dollar - quoted, therefore the price of the tool shows how many Australian dollars cost 1 euro at the moment. EURAUD refer to the so-called cross-rates, having among traders rather weak popularity because of quiet volatility and low liquidity.
EURAUD is a couple uniting two currencies far from each other as in the geographical, so in the economic perspective. Europe’s common currency EUR is provided by 19 states of the eurozone from more than 325 million inhabitants. The economy of the eurozone countries is based on the industry and different types of services.
The Australian dollar (AUD) covers the Australian union with Christmas Island, Norfolk Island and the Cocos Islands, and also the independent states of Kiribati, Nauru and Tuvalu. The basis of the Australian economy is constituted by products of the agricultural sector (generally - livestock sector) and export of various natural resources.