THE Australian dollar has bounced back above 78 US cents ahead of Tuesday’s highly anticipated Reserve Bank board meeting.
At 0645 AEST on Tuesday, the March share price index futures contract was up 17 points at 5,588.
In local economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and makes interest rate decision.
The Australian Bureau of Statistics releases building approvals and international trade in goods and services data, both for December The Dun and Bradstreet business expectations survey and the ANZ-Roy Morgan weekly consumer confidence survey are due out.
In equities news, Navitas is expected to
post half year results. In Australia, the market on Monday closed higher
for an eighth session in a row as a lift in the price of oil boosted
the energy sector, and investors speculated on a cut in the official
interest rate on Tuesday.
The benchmark S&P/ASX200 index was up 37 points, or 0.66 per cent, at 5,625.3 points.
The broader All Ordinaries index rose 34.9 points, or 0.63 per cent, at 5,586.5 points.
At 0630 AEDT on Tuesday, the local currency was trading at 78.16 US cents, up from 77.81 cents on Monday.
There’s a two-in-three chance the RBA will cut the cash rate to a new record low of 2.25 per cent at 1430 AEDT, according to market expectations.
In local economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and makes interest rate decision.
The Australian Bureau of Statistics releases building approvals and international trade in goods and services data, both for December The Dun and Bradstreet business expectations survey and the ANZ-Roy Morgan weekly consumer confidence survey are due out.
In equities news, Navitas is expected to
post half year results. In Australia, the market on Monday closed higher
for an eighth session in a row as a lift in the price of oil boosted
the energy sector, and investors speculated on a cut in the official
interest rate on Tuesday.The benchmark S&P/ASX200 index was up 37 points, or 0.66 per cent, at 5,625.3 points.
The broader All Ordinaries index rose 34.9 points, or 0.63 per cent, at 5,586.5 points.
At 0630 AEDT on Tuesday, the local currency was trading at 78.16 US cents, up from 77.81 cents on Monday.
There’s a two-in-three chance the RBA will cut the cash rate to a new record low of 2.25 per cent at 1430 AEDT, according to market expectations.
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