none
none

AUSSIE DOLLAR CLIMBS AFTER 8 MONTH SLUMP

22-03-2016
by 
in 

The Australian dollar has gotten stronger thanks to higher oil and iron ore prices, as the unit is now trading at US76.27 cents, up from US75.77 cents yesterday.

However, according to Westpac economists the dollar is facing strong downward pressure from a firming greenback.

“This downward correction targets sub-US75.70 cents today,” they said in a note.

The country’s economy grew quicker than forecasted late last year, prompting investors to pare bets on monetary easing and making the local currency one of the chief beneficiaries of recent weakness in the greenback.

Source: The Australian

Related news & editorials

  1. Lots of moneyb
    06.02.2018
    06.02.2018
    by      In
    Confidence continues to rise as Australian businesses predict healthy profits well into the year, according to illion’s latest Business Expectations Survey. The preliminary survey for the June quarter sees the Business Expectations Index rising by 31% over the previous year.
    Business confidence has... Read More
  2. Australian manufacturing
    01.02.2018
    01.02.2018
    by      In
    The inexorable rise of the Australian Performance of Manufacturing Index during 2107 has continued into the new year with production leading the way. The AI Group’s Australian PMI has come in at 58.7 in January 2018, showing an increased level of growth, and the production subindex jumped to 62.7,... Read More
  3. Belgian cement works
    31.01.2018
    31.01.2018
    by      In
    Australian technology company, Calix, has secured EUR3.4 million in working capital from Efic to build the CO2 capture facility for the Low Emissions Intensity Lime and Cement (LEILAC) project in Belgium.
    Efic, the Australian Government’s export credit agency, is a specialist financier that... Read More
  4. Lots of money
    24.01.2018
    24.01.2018
    by      In
    This year looks likely to be the last chance for small businesses to take advantage of the Federal Government’s $20,000 instant asset write-off. So any business with an annual turnover of less than $10 million has until 30th June 2018 to make a qualifying investment.
    The scheme originated in the... Read More