The Australian dollar has established a firm foothold above the 74 cent level on Monday morning, continuing to find support following the release of last Friday's US non-farm payrolls report in the US.
The bump for the Australian dollar could be short lived given the expected rate rise by the US Federal Reserve this month, although resurgent commodity prices should continue to lend the currency support.
Home-grown event risk returns to the forefront for the Australian Dollar in the week ahead. Most notably, the RBA is due to deliver a monetary policy announcement and third-quarter GDP figures are set to cross the wires.
The Australian dollar is higher against the yen and euro. “A quiet night news wise left US interest rates and the US dollar unchanged, although the Australian dollar and New Zealand dollar extended recent gains,” Westpac senior market strategist Imre ...
The Australian dollar climbed off the mat on Thursday after tumbling a day earlier, supported by strong Chinese economic data, US dollar weakness and an enormous reversal in iron ore prices after two days of equally enormous declines.
The Australian Dollar was steady on Monday after news of a pickup in Chinese service-sector output was published. The private Caixin Purchasing Managers Index (PMI) for the sector came in at 53.1 in November, up from 52.4 the month before.
GBP/AUD starts the new week in the red but studies confirm the possibility of further advances remains alive. Sterling buys 1.6979 Aussie Dollars on the inter-bank markets at the time of writing, less than the amount of 1.7029 we saw at the start of ...