Off the wire
• North American leaders vow to cooperate against rising protectionism  • Interview: Mexican students become victims in teachers' conflict with gov't  • Stuttgart' s Rupp agrees on Hoffenheim deal  • Chinese vice premier meets with French politician on ties  • Roundup: LatAm countries united in condemning terrorist attack in Turkey  • Fed objects to capital plans of two large U.S. banks in stress tests  • Chinese envoy urges efforts to promote comprehensive, political solution of Darfur issue  • News Analysis: Uruguay heads for constitutional reform in bad timing  • More attacks feared in Europe after fewer would-be jihadists travel to warzone  • Relief aid enters 2 besieged Syrian areas for first time in 4 years  
You are here: 　 Home

Australian dollar rises as global market sentiment improves

Xinhua, June 30, 2016 Adjust font size:

The Australian dollar has lifted after global market sentiment improved.

At 7:00 a.m. local time (AEST) on Thursday, the Australian dollar was trading at 74.52 U.S. cents, up from 73.94 U.S cents on Wednesday.

By 9:30 a.m. local time (AEST), the Australian dollar had risen slightly to 74.55 U.S. cents.

Commonwealth Bank of Australia currency strategist Joseph Carpurso said that the Australian dollar lifted modestly, as it tracked higher equity markets and commodity prices.

"But the Australian dollar and New Zealand dollar are likely to ease today as fund managers adjust their hedges to reflect this month's sharp declines in global equity markets," Carpurso said.

"The next Australian dollar-centric event is the China manufacturing PMI tomorrow."

Westpac senior market strategist Imre Speizer noted that as sentiment stabilized, the Australian dollar should rise further.

"(It has the) potential to reach 75 U.S. cents," Speizer said. Endit