Money Aussie dollar gains ground as international markets rally

12:31  13 february  2018
12:31  13 february  2018 Source:

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The Australian dollar is slightly higher after US stocks had a flat finish to trade on Friday, and European share markets gained ground . Aussie dollar flat Aussie miners suffer stock plunge.

The Australian dollar is trading almost unchanged from where it began Friday’s session, gaining ground late last week on the back of a strong rally in US stocks. At the margin, higher crude and iron ore prices may have also assisted the Aussie ’s late push higher

  Aussie dollar gains ground as international markets rally © Getty Images The Australian dollar is back above 78 US cents as the US dollar's rise falters and it slips amid an equity rebound.

At 0635 AEDT on Tuesday, the Australian dollar was worth 78.44 US cents, up from 78.35 US cents on Monday.

Appetite for risk-taking crept back into currency markets to the detriment of the US currency and helped higher-yielding emerging market currencies as well as commodity-linked currencies like the Australian and Canadian dollars, Reuters reported.

"The index that tracks the US dollar against a basket of currencies was down 0.2 per cent at 90.291, erasing some of the gains last week," the agency said.

Aussie dollar slips below 80 cents

  Aussie dollar slips below 80 cents The Australian dollar has slipped back below 80 US cents as the fall in the US dollar seemed to end and weaker metals prices offered no support.At 0635 AEDT on Monday, the Australian dollar was worth 79.14 US cents, down from 80.01 US cents on Friday.

Once. Gains / Loses Gains Loses. In this section, the AUD is paired against the USD (United States Dollar ) the official currency of the United States, and the predominantly used currency in majority of international financial transactions.

The Australian Dollar was under pressure most of the week until Friday when it gained back most of its loss on short-covering in response to a mixed U.S. jobs report.For the week, the AUD/USD settled at .7398, down 0.0004 or -0.06%.Early in the week, the Aussie lost ground in response.

Westpac's Imre Speizer later said the US dollar had slipped a little further.

"The USD index is 0.3 per cent lower on the day ... (while the) AUD rose from 0.7810 to 0.7847," he said in a morning note.

The main event risk for the local currency on Tuesday would be Reserve Bank of Australia assistant governor (Economics) Luci Eillis's speech at the ABE forecasting conference in Sydney around 0850 AEDT.

Iron ore prices are grinding higher

  Iron ore prices are grinding higher Iron ore spot markets continue to grind higher, logging a third straight day of gains on Tuesday. According to Metal Bulletin, the price for benchmark 62% fines rose 0.3% to $75.92 a tonne, leaving it at a two-week high. © Business Insider AustraliaSmall gains were also seen across lower and higher grades.58% fines increased 0.5%, closing the session at $43.87 a tonne. Ore with 65% Fe content added a smaller 0.2%, settling at $91.90 a tonne.The modest gains mirrored similar price action in Dalian iron ore futures. require(["inlineoutstreamAd", "c.

Overview of the world`s largest and most important stock market indices on a world map. NYSE International 100 USA. 5,636.55 5,666.48. U.S. Dollar Index USA.

Earlier, the dollar rallied after a report showed the U.S. economy grew in The dollar traded higher versus the yen . Against pound Sterling , the greenback also gained . The euro also lost ground after figures showed the first rise in Germany's seasonally adjusted jobless total in over two years.

Also, the National Australia Bank's business survey for January, which was steady in 2017, may have an impact, he said.

He thinks the Australian dollar could even extend its latest gains and reach above 79 US cents.

"(There's) potential for this rebound to extend to 0.7900 if the USD remains stalled and/or equities recover further."

The Aussie dollar is also higher against the yen and the euro.


One Australian dollar buys:

* 78.44 US cents, from 78.35 on Monday

* 85.29 Japanese yen, from 85.16 yen

* 63.84 euro cents, from 63.79 euro cents

(*Currency closes taken at 1700 AEDT previous local session)

The Australian dollar is treading water .
The Australian dollar meandered its way through Monday's trading session with US and Chinese markets on holiday. Here's the scoreboard as at 7.10am AEDT. AUD/USD0.7910,0,0.00%AUD/JPY84.27,0.17,0.20%AUD/CNH4.9875,0.0053,0.11%AUD/EUR0.6374,-0.0002,-0.03%AUD/GBP0.5647,0.0006,0.11%AUD/NZD1.0730,0.0031,0.29%AUD/CAD0.9938,0.0004,0.04%After opening trade at .7910, the AUD/USD hit a session high of .7935 before reversing most of those gains in European trade. As seen in the five minute chart below, it largely flat-lined in North American trade with US markets closed for the President's Day holiday.

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