Australian dollar ascends after weak US economic figures
February 14, 2014 6:47 am
The Australian dollar has snapped back, following a weak US economic data that lifted hopes the US Federal Reserve might not increase the tapering of its bond-buying program any time soon. The currency gained 0.3% to 90.03 US cents as of 1:58 p.m. (Australian time), set for a 0.5% gain this week. It incurred 0.3% to NZ$1.0793, after reaching NZ$1.0736 yesterday, the least since January 31.
The US Commerce Department report showed the retail sales dropped 0.4% in January, while up 4.2% in the last 12 months to January, the weakest annual profit in four years. The yield on 10-year Australian government bonds went down two basis points to 4.15% from yesterday, when it fell 4.5 basis points (or 0.045 percentage point).
Today, the Reserve Bank of Australia Assistant Governor (Economic) Christopher Kent is set to give his speech to the Committee for Economic Development of Australia (CEDA) Economic and Political Overview in Sydney.
The US Commerce Department on Thursday reported retail sales sank 0.4% in January, the second straight monthly decrease.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar has snapped back, following a weak US economic data that lifted hopes the US Federal Reserve might not increase the tapering of its bond-buying program any time soon. The currency gained 0.3% to 90.03 US cents as of 1:58 p.m. (Australian time), set for a 0.5% gain this week. It incurred 0.3% to NZ$1.0793, after reaching NZ$1.0736 yesterday, the least since January 31.
The US Commerce Department report showed the retail sales dropped 0.4% in January, while up 4.2% in the last 12 months to January, the weakest annual profit in four years. The yield on 10-year Australian government bonds went down two basis points to 4.15% from yesterday, when it fell 4.5 basis points (or 0.045 percentage point).
Today, the Reserve Bank of Australia Assistant Governor (Economic) Christopher Kent is set to give his speech to the Committee for Economic Development of Australia (CEDA) Economic and Political Overview in Sydney.
The US Commerce Department on Thursday reported retail sales sank 0.4% in January, the second straight monthly decrease.
The material has been provided by InstaForex Company – www.instaforex.com
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