The Australian dollar is lower as traders take profits after the currency reached a five-month high on the back of yesterday's central bank interest rate decision.
US stocks have rallied for a third straight day, buoyed by hopes for more stimulus from the Federal Reserve and the European Central Bank to boost weak economies.
The Australian dollar closed slightly higher, after peaking just above 106 US cents, following after the central bank's decision to keep interest rates on hold.
Australian shares opened stronger, buoyed by overnight leads and hopes the European Central Bank will take action soon to relieve the euro zone debt crisis.
US stocks scored moderate gains Monday, extending Friday's sharp rally on hopes that the European Central Bank may soon take action to relieve the eurozone sovereign debt crisis.
The Australian dollar is more than half a US cent higher, following optimistic job figures from the US.At 1700 AEST, the local unit was trading at 105.60 US cents, up from 104.95 cents.
The Australian share market started the week strongly, closing up by more than one per cent on robust overseas leads, following better than expected US jobs data.
Investment firm Argo Investments says global equity markets are unlikely to show any meaningful recovery in the short term but, in the long term, the Australian market represented relatively good v
Western Australia’s top 100 companies have outperformed the national stockmarket over the past decade, but when markets turn down it’s the WA stocks that suffer the most.
The Australian dollar has risen three-quarters of a US cent with better than expected jobs figures giving investors reason to be optimistic about the US economy and Spain agreeing to austerity meas
The Reserve Bank of Australia is expected to keep the official interest rate at 3.5 per cent over the next couple of months, following the rate cuts in May and June.
The Australian share market has opened lower after expectations the European Central Bank (ECB) would announce immediate monetary measures to ease the debt crisis failed to bear fruit.
US stocks slid for a fourth straight day, as the European Central Bank took no action to address the eurozone sovereign debt crisis but suggested it may intervene on the markets to lower borrowing
The construction union has backed a call by former Reserve Bank of Australia (RBA) board member Warwick McKibbin for the central bank to intervene to limit the strength of the Australian dollar.
US stocks have closed lower after the Federal Reserve kept monetary policy unchanged -- a widely expected move that nevertheless disappointed those hoping for a sign of new economic stimulus.
The Australian sharemarket has closed slightly lower after investors took a cautious approach ahead of US Federal Reserve and European Central Bank meetings.
