Australian dollar rises over weekend

The Australian dollar has risen slightly over the weekend to 70.42 US cents, up from 70.22 US cents on Friday.

The Aussie dollar also trades at 62.67 euro cents, 54.20 British pence, $1.03 New Zealand dollars, 78.24 Japanese Yen, and 4.733 Chinese Renminbi.

Australian markets are also expected to be affected by Monday’s public holiday in Victoria, South Australia, Tasmania and the ACT.

CommSec chief economist Craig James says its no surprise that after the losses in the US, there would be similar declines in our own market on Monday.

“US investors are trying to mull up the state of the economy – job figures were much weaker than expected but the question is whether this is just a one off type development. And housing stats were much firmer than expected,” he told AAP.

“So that data was more mixed than anything.”

He said investors could expect Monday to be a little softer in terms of volume, and potentially, growth because of the public holiday.

He said because of that, no major economic data had been released.

But what everyone is waiting for is a development in the US-China trade dispute.

“Without new information, we are effectively in a holding pattern.”

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Loading...

Inside Retail Polls

Retail Outlook 2019
How are trading conditions for you in 2019?

Twitter

Supermarket giant Coles has expanded its Uber Eats trial to four more stores in Sydney, and widened the range of go… https://t.co/ud3eyY7qDm

8 hours ago

Coffee chain sets up fund to invest in food and retail startups. https://t.co/N1lZhVWtLB

10 hours ago

Premier Investments seeks to broaden the brand's customer base, expanding into 5 new Asian markets, 4 European mark… https://t.co/YnMEgwL1qc

12 hours ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered