THE Australian dollar has slipped back below 78 US cents on the back of better-than-expected jobs figures out of the US.
At 0630 AEDT on Monday, the local currency was trading at 77.70 US cents, down from 78.41 cents on Friday.
The US economy pumped out a better-than-expected 257,000 new jobs in January, official figures showed, while wage growth rebounded firmly after December’s fall.
The report also included large upward revisions to jobs growth in November and December and said hourly wage growth gained 0.5 per cent, a big improvement after a December drop.
In local economic news on Monday, Reserve Bank of Australia governor Glenn Stevens is scheduled to give a speech at the RMB Clearing Bank launch ceremony in Sydney.
In equities news, Ansell is expected to post half year results. In Australia, the market on Friday notched up its longest ever rally, with a 12th straight day of gains coming on strength in the mining and energy sector.
The benchmark S&P/ASX200 index was up 9.2 points, or 0.16 per cent, at 5,820.8.
The broader All Ordinaries index was up 9.2 points, or 0.16 per cent, at 5,774.7.
At 0630 AEDT on Monday, the local currency was trading at 77.70 US cents, down from 78.41 cents on Friday.
The US economy pumped out a better-than-expected 257,000 new jobs in January, official figures showed, while wage growth rebounded firmly after December’s fall.
The report also included large upward revisions to jobs growth in November and December and said hourly wage growth gained 0.5 per cent, a big improvement after a December drop.
In local economic news on Monday, Reserve Bank of Australia governor Glenn Stevens is scheduled to give a speech at the RMB Clearing Bank launch ceremony in Sydney.
In equities news, Ansell is expected to post half year results. In Australia, the market on Friday notched up its longest ever rally, with a 12th straight day of gains coming on strength in the mining and energy sector.
The benchmark S&P/ASX200 index was up 9.2 points, or 0.16 per cent, at 5,820.8.
The broader All Ordinaries index was up 9.2 points, or 0.16 per cent, at 5,774.7.
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