The Australian dollar is slightly lower on concerns about the US fiscal cliff.At 1700 AEDT, the local unit was trading at 105.44 US cents, down from 105.52 cents at yesterday's close.
Australian stocks have finished the day at their highest levels for the year after a flat session influenced by good news out of China and bad news out of the US.
The property industry has urged the state government to not follow the lead of eastern states governments and continue offering the first home owners’ grant universally in Western Australia.
US stocks closed lower Thursday under a cloud of fiscal cliff concerns that overshadowed a batch of somewhat positive economic data on jobs, retail sales and inflation.
The Australian dollar has risen after the US central bank announced it would extend its bond buying program, in order to ease lending rates and stimulate spending.
Australian stocks have closed flat after a directionless day's trade, with gains among the big miners offset by weakness in the consumer staples sector.
The Reserve Bank's interest rate should be cut in the new year to boost ailing consumer and business confidence, Westpac chief executive Gail Kelly says.
Lower interest rates have yet to give a noticeable boost to a manufacturing sector that remains plagued by a high Australian dollar, a new survey suggests.
The head of National Australia Bank has called for an overhaul of Australia's industrial relations and taxation systems as the resources investment boom nears its peak.
Westpac does not expect conditions in the banking sector to improve any time soon, but says it is in good shape to deliver sound returns for shareholders.
The Australian market has opened flat after Wall Street fell in response to comments from US Federal Reserve chairman Ben Bernanke that there was nothing he could do if the US fell off the "fiscal
US stocks closed mostly flat on Wednesday after Federal Reserve Chairman Ben Bernanke warned politicians to reach a deal to avoid sending economy over the fiscal cliff.
Reserve Bank of Australia governor Glenn Stevens wonders whether there might be a better way of using monetary policy than the so-called "quantitative easing" of monetary policy being used by major
The Australian dollar has rallied to its highest level in almost three months after a surprise rebound in German investor confidence lifted global markets.
Australian firms are heading into Christmas on a pessimistic note, with business confidence slumping to its lowest point since the global financial crisis.
Keeping inflation in check is important to maintain steady economic growth, but it is not enough, Reserve Bank of Australia governor Glenn Stevens says.
