THE Australian dollar has opened higher, as a fresh bout of US dollar weakness and firmer commodities prices pushed the local currency towards 105 US cents.
At 7am AEST today, the Australian dollar was at 104.90 US cents, up from yesterday's local close of 104.24 US cents.
During the overnight offshore session, the local unit traded between a low of 104.14 US cents and a high of 105.09 US cents.
Bank of New Zealand currency strategist Mike Jones said an upbeat night on global equity markets lifted risk sentiment and prompted investors to buy currencies such as the Australian and New Zealand dollars.
Mr Jones said higher commodities prices - oil, gold and copper futures contract prices all settled firmer in New York trading - also lifted demand for the Australian dollar.
"It a positive backdrop for the Aussie dollar, which is flirting once again 105 US cents level this morning," Mr Jones said. "It certainly was broad US dollar weakness that boosted the Aussie overnight."
Wall Street closed firmer - the Dow climbed 0.4 per cent and the S&P500 advanced 0.35 per cent - while stock markets in Europe also posted gains.
Mr Jones said the release of Chinese trade figures today was expected to be the main focus for markets.
In local economic news, Reserve Bank of Australia assistant governor of economics Christopher Kent will speak at the Bloomberg Australia economic summit in Sydney today.
The Westpac-Melbourne Institute's monthly survey of consumer confidence will be released.
Không có nhận xét nào:
Đăng nhận xét