This report provides an analysis and evaluation of a carry trade strategy between AUD and USD between 2nd October 2015 to 18th December 2015. Methods include various regression analysis such as autocorrelation and ordinary least squares using the e-views software. Recommendations include, going long on AUD against USD and evaluating the analyses from time to time for constant accurate forecasts. This report also has certain limitations which has eventually helped in tying up the whole report together.