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Money Aussie dollar gains ground as international markets rally

12:31  13 february  2018
12:31  13 february  2018 Source:   msn.com

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The Australian dollar has started the week higher after Wall Street put in a flat performance on Friday and The Australian dollar is slightly higher after US stocks had a flat finish to trade on Friday, and European share markets gained ground .

The latest Dollar News & AUD Dollar Market including Currency Market Trading articles and breaking Australian dollar news. THE Australian dollar has slipped to a six-week low against its US counterpart, before regaining some ground , as the US dollar has extended its recent gains .

  Aussie dollar gains ground as international markets rally © Getty Images The Australian dollar is back above 78 US cents as the US dollar's rise falters and it slips amid an equity rebound.

At 0635 AEDT on Tuesday, the Australian dollar was worth 78.44 US cents, up from 78.35 US cents on Monday.

Appetite for risk-taking crept back into currency markets to the detriment of the US currency and helped higher-yielding emerging market currencies as well as commodity-linked currencies like the Australian and Canadian dollars, Reuters reported.

"The index that tracks the US dollar against a basket of currencies was down 0.2 per cent at 90.291, erasing some of the gains last week," the agency said.

Aussie dollar slips below 80 cents

  Aussie dollar slips below 80 cents The Australian dollar has slipped back below 80 US cents as the fall in the US dollar seemed to end and weaker metals prices offered no support.At 0635 AEDT on Monday, the Australian dollar was worth 79.14 US cents, down from 80.01 US cents on Friday.

The Aussie dollar gained on Thursday even after global markets fell sharply. "In an environment where people are concerned about rising volatility, the dollar tends to do well - especially versus higher-risk currencies such as the Aussie and Canadian dollar ," said Stuart Ritson, head of Asian rates

Australian growth weak. The RBA saying that monetary policy isn’t working. And the US dollar These things seem to have conspired to take the wind from the Aussie dollars sails and make The effect of leverage is that both gains and losses are magnified. You should only trade if you can afford

Westpac's Imre Speizer later said the US dollar had slipped a little further.

"The USD index is 0.3 per cent lower on the day ... (while the) AUD rose from 0.7810 to 0.7847," he said in a morning note.

The main event risk for the local currency on Tuesday would be Reserve Bank of Australia assistant governor (Economics) Luci Eillis's speech at the ABE forecasting conference in Sydney around 0850 AEDT.

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Currencies Australian Dollar . Dollar slips on stock losses, lower bond yields. 1 Hour Ago. The dollar slipped on Monday, erasing its earlier gains , as investors searched for fresh clues to extend a multi-month rally in the greenback before a widely expected interest rate hike by the U.S. central bank

Quick Recap Stocks were higher across the board overnight but the US dollar lost some of it strength toward the close leaving the Euro and Aussie dollar well The market is expecting a rise of 15,000 and an unemployment rate of 6.3%. NAB’s chief markets economist Ivan Colhoun says we should be

Also, the National Australia Bank's business survey for January, which was steady in 2017, may have an impact, he said.

He thinks the Australian dollar could even extend its latest gains and reach above 79 US cents.

"(There's) potential for this rebound to extend to 0.7900 if the USD remains stalled and/or equities recover further."

The Aussie dollar is also higher against the yen and the euro.

CURRENCY SNAPSHOT AT 0635 AEDT ON TUESDAY

One Australian dollar buys:

* 78.44 US cents, from 78.35 on Monday

* 85.29 Japanese yen, from 85.16 yen

* 63.84 euro cents, from 63.79 euro cents

(*Currency closes taken at 1700 AEDT previous local session)

The Australian dollar is treading water .
The Australian dollar meandered its way through Monday's trading session with US and Chinese markets on holiday. Here's the scoreboard as at 7.10am AEDT. AUD/USD0.7910,0,0.00%AUD/JPY84.27,0.17,0.20%AUD/CNH4.9875,0.0053,0.11%AUD/EUR0.6374,-0.0002,-0.03%AUD/GBP0.5647,0.0006,0.11%AUD/NZD1.0730,0.0031,0.29%AUD/CAD0.9938,0.0004,0.04%After opening trade at .7910, the AUD/USD hit a session high of .7935 before reversing most of those gains in European trade. As seen in the five minute chart below, it largely flat-lined in North American trade with US markets closed for the President's Day holiday.

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