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FOREX - AUSTRALIAN DOLLAR OPENS LOWER - AUG 1, 2008.
SYDNEY, Aug 1 Asia Pulse - The Australian dollar has opened at its lowest level in six weeks as a fall in oil prices and a report showing an expansion in US economic activity gave support to the American currency.
At 0700 AEST, the Australian dollar was trading at $US0.9422 24, down from yesterday's close of 0.9453/54.
It was the Australian dollar's lowest opening since June 17, when the unit started the local session at $US0.9403/07.
Overnight, the Australian dollar moved between $US0.9400 and 0.9470.
Corporate dealer with online currency trader OzForex Darren Richardson said a combination of lower oil prices and some "sound" data gave support to the US dollar.
Gross domestic product (GDP) in the US increased 1.9 per cent for the year in the June quarter, below some economist's forecast of 2.0 per cent.
GDP in the second quarter was up from a revised 0.9 per cent in the March quarter and a 0.2 per cent contraction in the last quarter of 2007.
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- News wire article from: AsiaPulse News April 15, 2009 700+ words
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- News wire article from: AsiaPulse News July 15, 2009 700+ words
...At 0700 AEST, the Australian dollar was trading at $US0...Speizer, said the Australian dollar had benefitted from...Institute indices of economic activity for May. Mr Speizer forecasts the Australian dollar to move between...
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- News wire article from: AsiaPulse News November 22, 2006 700+ words
...25 per cent, the Australian dollar is an attractive...not provided the Australian dollar with much direction...leading index of economic activity, which indicates...At 1600 AEDT the Australian dollar on the Reserve Bank...
Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS LOWER - AUG 1, 2008.