The Australian dollar has fallen against a stronger US dollar following the release of Federal Reserve minutes showing it was determined to wind back its economic stimulus program.
US stocks have finished lower after minutes from the latest US Federal Reserve meeting showed some policymakers sought an early hike in the Fed's benchmark interest rate.
The Australian market closed slightly higher as gains from mining giant BHP Billiton's strong profit results were dragged down by a disappointing result from Coca-Cola Amatil.
The Australian sharemarket has opened stronger due to record Chinese credit growth, a strong lead from Wall Street and better-than-expected domestic earnings season.
US stocks have surged higher this week as investors were reassured by the Federal Reserve, cheered by a congressional move to raise the debt ceiling and undeterred by disappointing economic data.
The Australian dollar has risen after weak US economic figures raised hopes the US Federal Reserve might not increase the tapering of its economic stimulus program any time soon.
Negativity about the outlook for the European economy pushed the Australian dollar down from the one-month high hit on the back of strong Chinese trade figures.
Commonwealth Bank of Australia has increased its half yearly profit by 14 per cent to $4.27 billion, but its chief is still warning of volatile global and domestic markets.
US stocks have jumped more than one per cent after new US Federal Reserve chair Janet Yellen confirmed she would continue existing Fed monetary policy.
The Australian dollar has rallied to an almost one-month high after US Federal Reserve head Janet Yellen said she would maintain policy set under her predecessor, Ben Bernanke.
A double digit jump in ANZ Banking Group's first quarter profit has analysts predicting a sixth consecutive year of record earnings for the major banks.
