The Australian dollar has climbed to a two-month high against its US counterpart after European leaders agreed to measures aimed at alleviating the euro zone's sovereign debt crisis.
US stocks leaped two per cent on Friday sparked by the dramatic measures adopted in Brussels to stem the eurozone crisis and stimulate growth, giving the markets a strong end to a rocky first half.
The Australian dollar has risen to its highest level in more than a week after European leaders announced a deal aimed at reducing borrowing costs for Spain and Italy.
The Australian sharemarket has closed higher in the last trading session of the financial year, with investors heartened by the fact that European leaders looked like they had settled on a plan to
US stocks have slashed steep early losses in the last hour of trade to end moderately lower, amid short covering and hopes that EU leaders would agree measures to stem the eurozone crisis.
The Australian share market surrendered most of its early gains to close almost flat as local investors waited to see if European Union leaders meeting in Brussels would act to contain the euro zon
The Australian share market has opened half a per cent higher, following Wall Street's overnight positive lead ahead of a key European Union summit on the euro zone debt crisis.
The Australian dollar has moved higher following a better performance in US stocks.At 0700 AEST, the Australian dollar was trading at 100.81 US cents, up from 100.55 cents yesterday.
A rebound in US durable goods orders in May, a sign of firmer action in US industry, has helped push US stocks higher in the wake of European and Asian markets.
The Australian share market has closed slightly higher, boosted by a positive lead from US markets, but trading remains weak and cautious ahead of a summit of European leaders later this week.
The Australian share market has closed lower as investors fear that the European debt crisis may worsen unless European leaders take decisive action at a summit later this week.
US stocks tumbled Monday as Europe's leaders appeared still-divided on how they will address their crisis in the coming crunch summit for the eurozone.
The Australian share market closed lower as investors expect a summit of European Union leaders this week to achieve little in solving the euro zone's ongoing problems.
Australian stocks have opened lower, led by falls in the resources-related sectors as market players looked past a positive lead from offshore markets.
Governments, banks and households struggling with too much debt are dragging down the world's economy and more needs to be done to make the banking system safer, a global organisation of central ba
Any chance of US markets enjoying a rally last week were torpedoed by warnings about weaker US growth and a sweeping indictment of the world's largest banks.
