Australian dollar still higher after biggest weekly gain
February 10, 2014 9:21 am
The Australian dollar stayed higher after its biggest weekly progress in five months, prior to the local data this week that may display home prices ascended as to a record and employment advanced.
Yields on the nation’s three-year government notes reached a one-month high last week as the Reserve Bank of Australia (RBA) increased its economic growth and inflation postulations, discarding speculation the RBA will trim borrowing costs. Demand for the Aussie and New Zealand dollars was supported after stock profits worldwide enhanced the allure of higher-yielding assets.
The Aussie listed at 89.49 US cents as of 11:23 a.m. (Sydney time), following a stronger 2.3% last week, the highest since September 6, to previously 89.59. It touched 89.99 US cents on February 7, the most since January 14. New Zealand’s kiwi dollar fell 0.1% to 82.85 US cents.
Australia’s three-year yields dropped one basis point to 2.99%, following its rise to as high as 3.03% at the end of last week, a level unnoticed since January 10.
A separate report from the bureau is predict to show the number of people employed went up to 15,000 in January. It unexpectedly fell to 22,600 in December, the first decrease in four months.
The MSCI World Index of shares advanced 1.2% on Feb. 7 as a government report showed the US jobless rate fell to 6.6%, the least since October 2008.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar stayed higher after its biggest weekly progress in five months, prior to the local data this week that may display home prices ascended as to a record and employment advanced.
Yields on the nation’s three-year government notes reached a one-month high last week as the Reserve Bank of Australia (RBA) increased its economic growth and inflation postulations, discarding speculation the RBA will trim borrowing costs. Demand for the Aussie and New Zealand dollars was supported after stock profits worldwide enhanced the allure of higher-yielding assets.
The Aussie listed at 89.49 US cents as of 11:23 a.m. (Sydney time), following a stronger 2.3% last week, the highest since September 6, to previously 89.59. It touched 89.99 US cents on February 7, the most since January 14. New Zealand’s kiwi dollar fell 0.1% to 82.85 US cents.
Australia’s three-year yields dropped one basis point to 2.99%, following its rise to as high as 3.03% at the end of last week, a level unnoticed since January 10.
A separate report from the bureau is predict to show the number of people employed went up to 15,000 in January. It unexpectedly fell to 22,600 in December, the first decrease in four months.
The MSCI World Index of shares advanced 1.2% on Feb. 7 as a government report showed the US jobless rate fell to 6.6%, the least since October 2008.
The material has been provided by InstaForex Company – www.instaforex.com
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