Money The Australian dollar's been hosed

06:05  12 july  2018
06:05  12 july  2018 Source:

Australia shares to inch higher, NZ up

  Australia shares to inch higher, NZ up Australian shares are set to edge higher on Tuesday, tracking Wall Street, as weakness in the Australian dollar could prompt buying in healthcare stocks ahead of the Reserve Bank of Australia's cash rate decision due later in the day. The Aussie dollar hovered near recent lows on Monday, while the country's central bank is seen holding rates at record lows until next September, according to a Reuters poll. The local share price index futures (YAPcm1) rose 0.34 percent or 21 points to 6158, a 19.8-point discount to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark fell about 0.3 percent on Monday.

The Australian dollar (sign: $; code: AUD ) is the currency of the Commonwealth of Australia , including its external territories Christmas Island, Cocos (Keeling) Islands, and Norfolk Island

Currencies Australian Dollar . Dollar slumps after nonfarm payrolls data, tariffs kick in. 4:13 AM ET Mon, 2 July 2018. LONDON, July 2- The euro weakened half a percent and other high-yielding currencies such as the Australian dollar wilted on Monday as rising concerns over an escalation in

a man riding a wave on a surfboard in the rain© Provided by Getty

    The Australian dollar tumbled on Wednesday, recording its largest decline in a month.

    The catalyst was an escalating in trade tensions between the United States and China, something that took its toll on stocks, commodities and any China-linked asset, including the Aussie.

    Here's the scoreboard as at 7am in Sydney.

    AUD/USD 0.7366 , -0.0092 , -1.23%

    AUD/JPY 82.49 , -0.28 , -0.34%

    AUD/CNH 4.9516 , -0.0078 , -0.16%

    AUD/EUR 0.6308 , -0.0041 , -0.65%

    AUD/GBP 0.5576 , -0.0041 , -0.73%

    AUD/NZD 1.0898 , -0.0006 , -0.06%

    AUD/CAD 0.9725 , -0.0053 , -0.54%

    "[The] reaction to the US plans to impose tariffs on an additional $US200 billion of Chinese goods has triggered a sell off across risk assets overnight," said Rodrigo Catril, Senior FX Strategist at the National Australia Bank.

    The Australian dollar is charging higher as confidence improves around the world

      The Australian dollar is charging higher as confidence improves around the world The Australian dollar continued to surge on Monday, rising on a wave of improved investor confidence across the world.  The Australian dollar ripped higher on Monday, rising on a wave of improved investor confidence across the world.

    Here’ s the current Aussie dollar scoreboard. AUD /USD 0.7024 , -0.0116 , -1.62%. Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and

    The Australian dollar is worth more than the US dollar for the first time since it became a freely traded currency, following comments by the Federal Reserve chairman, Ben Bernanke, that the US was likely to pump more money into the struggling American economy.

    "European and US equities are down 0.5% and 1.6% and the commodity complex is also a sea of red with Brent oil down over 6%."

    Along with an escalation in trade rhetoric between the two sides, the US dollar also received tailwinds from stronger-than-expected US economic data with producer prices inflation and wholesale inventories both beating expectations, adding to the case for stronger economic growth, faster inflationary pressures and continued rate hikes from the Fed.

    The strength in the greenback, combined with the sharp deterioration in investor sentiment, saw commodity prices tumble across the board.

    As mentioned above, crude oil was smoked, as were base metals. Even precious metals -- regarded as safe-haven assets -- were pressured.

    Australia, New Zealand dollars gain respite as China calls for calm

      Australia, New Zealand dollars gain respite as China calls for calm <p>The Australian and New Zealand dollars gained a respite from recent selling pressure on Wednesday, as Beijing's efforts to stabilise its currency soothed sentiment just enough to spark profit-taking on U.S. dollar positions.</p>The Aussie dollar (AUD=D3) got an added lift from solid data on domestic retail sales and crawled up to $0.7403, moving away from an 18-month trough around $0.7311.

    The Australian one-hundred- dollar banknote was first issued in 1984 as a paper note. There have been two different issues of this denomination: initially a very light turquoise-blue paper note

    Australian Dollar ( AUD ) and Philippine Peso (PHP) Currency Exchange Rate Conversion Calculator. The exchange rate for the Australian Dollar was last updated on July 5, 2018 from The International Monetary Fund.

    It was plain ugly.

    Given the Aussie is not only a commodity-linked currency but also deemed by many to be a China-proxy, it's little wonder the AUD/USD finished the session nursing a loss of over 1.2%.

    The decline was the largest in percentage terms since June 14, and the third-largest this year.

    AUD/USD Hourly Chart© Provided by Supplied AUD/USD Hourly Chart

    The Aussie also lost ground against the crosses, including the New Zealand and Canadian dollars, with the latter supported by a increase in official interest rates from the Bank of Canada.

    Turning to the day ahead, with no major data events scheduled in Asia, sentiment and technicals look set to dictate the direction of the Aussie.

    If the prevailing theme of recent weeks is maintained, the movements in Chinese financial markets, especially the Chinese yuan, could prove influential.

    All the main releases arrive in the second half of the session with CPI data from Germany, France and the United States, along with Eurozone industrial production, the headline acts.

    Kashkari and Harker from the US Fed are also delivering speeches.

    $55 million Powerball winner FINALLY claims their prize .
    After nearly six months in hiding, a secret multi-millionaire has stepped forward to claim the winning $55 million Powerball jackpot ticket. The 50-game QuickPick entry drawn on January 11 has been claimed after an incredible 175 days, bringing months of speculation about the ticket to an end.It comes just a week before the $55 million windfalls would have been transferred to the Victorian State Revenue Office.But the identity of Australia's luckiest person will remain anonymous, with the Melbourne winner wanting to celebrate the life-changing achievement in private.

    —   Share news in the SOC. Networks

    Topical videos:

    This is interesting!