AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
FOREX - AUSTRALIAN DOLLAR OPENS HIGHER - NOV 1, 2007.
SYDNEY, Nov 1 Asia Pulse - The Australian dollar has opened above 93 US cents for the first time since 1984, surging to a 23-year high after the US central bank announced an interest rate cut.
The domestic currency is tipped to overtake 94 US cents if the Reserve Bank of Australia (RBA) raises interest rates next week, as expected.
At 0700 AEDT, the Australian dollar was trading at $US0.9312 15, up almost one US cent from yesterday's close of 0.9213 19.
Overnight, it traded between a low of $US0.9210 and a high of 0.9337.
The domestic currency shot up to its 23-year high at 0555 AEDT, 40 minutes after the US central bank's interest rate setting arm, the Federal Open Market Committee (FOMC), announced a quarter of a percentage point cut to the US federal funds rate to 4.5 per cent.
This was the Australian dollar's highest level since April 4, 1984, when it closed at 93.93 US cents, data from the RBA showed.
In its statement, the FOMC said the pace of US economic expansion was likely to slow in the near term, with a housing sector downturn given some of the blame.
- ANALYSIS - WEAKER AUSTRALIAN DOLLAR MAY DELAY RATE CUT.
- News wire article from: AsiaPulse News September 19, 2008 700+ words
SYDNEY, Sept 19 Asia Pulse - A weaker Australian dollar could delay an interest rate cut as central bank policymakers worry about...on global financial markets has caused the Australian dollar to shed 19 per cent in the past two months...
- Australian Dollar Strengthens
- Newspaper article from: Xinhua English Newswire November 6, 1996 700+ words
The Australian dollar defied an interest rate cut to end firmer against the US dollar today. The Australian dollar ended at 79.08 US cents from...factored in a bigger interest rate cut than today's reduction and...
- Australian Dollar Dominates Despite Dovish RBA Outlook, Though GDP Report Could...
- News wire article from: Mena Report June 3, 2009 700+ words
The Australian dollar dominated on Tuesday, rallying more than 1 percent against...if the Q1 GDP results prove to be disappointing, the Australian dollar could fall on future rate cut expectations. On the other hand, signs of resilience...
- FOREX - AUSTRALIAN DOLLAR OPENS WEAKER - OCT 23, 2008.
- News wire article from: AsiaPulse News October 23, 2008 700+ words
...sentiment dominating trade, the Australian dollar fell two per cent against...flow-on effect for the Australian dollar," Mr Kelleher said...Depending on the New Zealand rate cut, the Australian dollar was expected to trade between...
- FOREX - AUSTRALIAN DOLLAR OPENS STRONGER - OCT 18, 2007.
- News wire article from: AsiaPulse News October 18, 2007 700+ words
...Oct 18 Asia Pulse - The Australian dollar opened stronger today...the potential to hurt the Australian dollar as worries about the sub...of another US interest rate cut. The Australian dollar is tipped to trade between...
- Australian Dollar Rebounds Ahead of Key Reserve Bank of Australian (RBA) Rate...
- News wire article from: Mena Report July 7, 2009 700+ words
...territory. The rally in the Australian dollar also comes ahead of...00 percent, but the Australian dollar may only respond to a surprise rate cut or a biased monetary...news could weigh on the Australian dollar. On the other hand...
- FOREX - AUSTRALIAN DOLLAR OPENS FIRMER - SEPT 19, 2007.
- News wire article from: AsiaPulse News September 19, 2007 700+ words
...Asia Pulse - The Australian dollar opened more than...per cent interest rate cut. The domestic...0700 AEST, the Australian dollar was trading at...expecting. News of the rate cut saw the Australian dollar jump by one US...
- FOREX - AUSTRALIAN DOLLAR CLOSES HIGHER - JULY 28, 2009.
- News wire article from: AsiaPulse News July 28, 2009 700+ words
...8330. At 1700 AEST, the Australian dollar was trading at US$0...interest rates supported the Australian dollar. "The market interpretation...the RBA has finished its rate cut cycle." The Australian dollar rose 1.2 US cents in...
Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS HIGHER - NOV 1, 2007.