Arab Today, arab today australian dollar touches 11week high
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Australian dollar touches 11-week high

Arab Today, arab today

Arab Today, arab today Australian dollar touches 11-week high

Tokyo - Arabstoday

The Australian dollar strengthened to the highest level in 11 weeks against the greenback as Asian stocks extended a global equity rally, boosting demand for higher-yielding assets. The so-called Aussie gained for a fifth day before US jobs data that may add to the case for more monetary stimulus from the Federal Reserve. Demand for the Australian and New Zealand dollars was supported as volatility for major currencies slid to the lowest since November 2007, making investments in nations with higher interest rates more attractive. The Aussie and kiwi “are certainly looking quite strong at the moment,” said Jeremy Jukes, a foreign-exchange dealer in Auckland at Velocity Trade. “Mild weakness in the US data has been positive for risk assets because there’s going to be more chance of more stimulus.” Australia’s dollar gained as much as 0.3 per cent to $1.0398 (Dh3.8), the highest level since May 1, before trading at $1.0392 as of 2.46pm in Sydney on Thursday. New Zealand’s dollar rose 0.1 per cent to 80.14 cents from Wednesday, when it climbed 0.3 per cent. It earlier touched 80.19, the highest since July 6. The MSCI Asia Pacific Index of stocks rose 1.5 per cent following a 0.8 per cent advance in the MSCI World Index on Wednesday. US economy Applications for first-time jobless benefits in the US probably increased by 15,000 in the week ended July 14 to 365,000, according to median estimate of economists surveyed by Bloomberg News before the Labour Department releases figures on Thursday. The Fed released its Beige Book business survey on Wednesday, saying the US economy expanded at a “modest to moderate” pace last month as retail sales and manufacturing cooled in some regions. It gives central bankers anecdotal evidence on the economy before they open a two-day policy meeting on July 31. Implied volatility on three-month options for Group-of-Seven currencies matched Wednesday’s low of 8.67 per cent, the least since November 2007, according to the JPMorgan G7 Volatility Index. The average over the past five years is 12.4 per cent. Three-month implied volatility for the Australian dollar today matched Wednesday’s low of 10.05, the least since May 2. Carry trade The Aussie’s volatility “has made another local low,” according to a note from National Australia Bank’s currency strategy team led by Ray Attrill. “This means that ‘volatility adjusted’ attractions of the Australian dollar as a carry trade are enhanced.” Central bank interest rates in Australia and New Zealand are 3.5 per cent and 2.5 per cent respectively, versus near zero in the US and Japan. Australia’s government bonds declined, with the yield on ten-year debt up two basis points, or 0.02 percentage point to 2.95 per cent. Sales of A$500 billion (Dh1,911 billion) of three-month bills drew bids valued at 8.83 times the amount on offer, the highest bid-to-cover ratio since April 2011. “Markets like Australia, Korea, Canada, Singapore that typically perhaps have been small parts of global portfolios are becoming more important because the core large markets are increasingly looking very poor quality,” Richard Yetsenga, head of global markets research at Australia & New Zealand Banking Group, said in a Bloomberg Television interview. Yetsenga expects the Australian dollar to rise to $1.05. In New Zealand, the number of job advertisements in newspapers and on the internet declined 1.4 per cent in June from the previous month, according to a report from ANZ. The country’s two-year swap rate, a fixed payment made to receive floating rates, was little changed at 2.63 per cent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australian dollar touches 11week high Arab Today, arab today australian dollar touches 11week high

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australian dollar touches 11week high Arab Today, arab today australian dollar touches 11week high

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday