I stumbled across an article on the nine.com.au website today that I thought some of our readers may find interesting.
The article reads as follows:
The Australian dollar is being resilient, lifting against the greenback despite softer Chinese trade numbers on Monday.
At 0714 AEST on Monday, the local unit was trading at 76.54 US cents, up from 76.11 cents on Monday.
Westpac senior market strategist Imre Speizer said the Aussie could head towards 77.00 cents against the greenback, given the demand.
“That the AUD (Australian dollar) rallied while the US dollar index tracked sideways illustrates underlying global demand for this high-yielder,” he said in a note.
The main risk event for the currency on Tuesday is Chinese inflation data and the NAB business confidence monthly numbers.
CURRENCY SNAPSHOT AT 0714 AEST ON TUESDAY
One Australian dollar buys:
- 76.54 US cents, from 76.11 cents on Monday
- 78.39 Japanese yen, from 77.72 yen
- 69.04 euro cents, from 68.66 euro cents
- 107.19 NZ cents, from 106.95 NZ cents
- 58.67 British pence, from 58.33 British pence
GOVERNMENT BOND YIELDS AT 0714 AEST ON TUESDAY
- CGS 5.25pct March 2019, 1.450pct, unchanged from Monday
- CGS 4.25pct April 2026, 1.951 pct, unchanged
Sydney Futures Exchange prices:
- September 2016 10-year bond futures contract was at 98.030 (implying a yield of 1.970 per cent), unchanged from Monday.
- September 2016 3-year bond futures contract was at 98.580 (1.420 per cent), unchanged from Monday.
(*Currency closes taken at 1700 AEST previous local session, bond market closes taken at 1630 AEST previous local session)
Follow the Professionals Christies Beach real estate blog for more interesting articles.
Article – Australian dollar lifts on strong demand
This article was posted by Melissa Chaplin