Articles By Christine Gaylican
Bell FX Currency Outlook: The Australian Dollar traded below parity on Friday night for the first time since June, 2012 as the USD moves upward against most major currencies.
Bell FX Currency Outlook: The Australian Dollar has tumbled almost two US cents to its lowest level in more than 11 months and could well find itself below parity in the next 24 hours.
Bell FX Currency Outlook: The Australian Dollar remains below USD 1.0200 this morning as central banks around the world are reacting to the enormous levels of cash pumping through their economies.
Bell FX Currency Outlook: The Australian Dollar has opened lower this morning again following yesterday's decision by the Reserve Bank of Australia to reduce interest rates by 0.25% to 2.75%.
The decision of Australia's central bank to cut interest rates to 53-year low has been well received by business groups still reeling from aneamic economic fundamentals led by exports and low consumer demand.
US closed mixed, with Bank of America advancing strongly on news of a key mortgage securities settlement. The broad-based S&P 500 edged to a new all-time closing high, rising 3.08 (0.19 per cent) to 1,617.50. The Dow Jones Industrial Average slipped 5.07 (0.03 per cent) to 14,968.89 and the tech-rich Nasdaq Composite Index rose 14.34 (0.42 per cent) to 3,392.97.
Bell FX Currency Outlook: The Australian Dollar has opened lower this morning ahead of the Reserve Bank's interest rate announcement today.
IG MARKETS CHIEF STRATEGIST, CHRIS WESTON'S VIEWS:
Asian markets have opened the new week on a firmer footing after the solid US payrolls report. Still, with Japan offline today volumes have been pretty poor in the markets that are still open.
The Dow Jones Industrial Average was up 142.38 (0.96 per cent) to 14,973.96 on Friday, after having breached the 15,000 mark earlier for the first time.
Bell FX Currency Outlook: The Australian Dollar has pushed higher by half a US Cent, to now be above USD1.0300, due to a strong US jobs market result on Friday night.