US stocks tumbled on Thursday ahead of a much-anticipated speech by Federal Reserve Chairman Ben Bernanke on Friday and as European woes renewed global growth worries.
The Australian dollar has fallen to its lowest level in more than a month after official figures showed investment in the mining sector is likely to grow by less than expected this year.
Fortescue Metals Group chairman Andrew Forrest has spent nearly $39 million in two days increasing his shareholding in the mining company he founded, as its shares and iron ore prices plunge.
Fund manager Perpetual will cut more jobs next year as it continues with a major restructure that contributed to a 57 per cent drop in its full year profit.
US stocks see-sawed in more light, noncommittal trade on Wednesday to close almost flat for the third straight session, amid fresh data that sent more mixed signals on the economy.
The Australian dollar is flat as markets wait for a key address by the US Federal Reserve chairman that could hint at further moves to stimulate the American economy.
US stocks have finished mixed after economic data gave no clear direction on the economy, and as investors awaited a key speech by Federal Reserve chief Ben Bernanke on Friday.
Weaker commodity prices have helped the Australian dollar drift to a fresh one month low while traders sit tight ahead of a closely-watched US Federal Reserve summit.
The Australian dollar fell to its lowest level in a month, amid negative sentiment about China's economic outlook and speculation that Australia's mining boom might be waning.
The Australian share market has closed slightly lower as investors wait to see if the United States and China will take further measures to stimulate their economies.
US stocks turned lower this week after six straight weekly gains as fresh signs of frailty in the global economy emerged and a number of companies cut their corporate profit forecasts.
The Australian dollar is at it's lowest level in five weeks amid pessimism about the outcome of talks between the Greece, French and German leaders on the weekend.
Sharp falls by blue chips Boeing and Hewlett-Packard have helped give US stocks their worst day so far this month, amid more signs of weak growth in major economies.
The top brass of the Reserve Bank of Australia will face further grillings about scandals involving its note-making companies when they appear before a powerful parliamentary committee.
