THE Australian dollar is higher after the release of the US Federal Reserve’s January policy meeting minutes.
At 0630 AEDT on Thursday, the local dollar was trading at 78.32 US cents, up from 78.23 cents on Wednesday.
The Fed does not appear ready to start raising its interest rates anytime soon, with officials expressing concerns about inflation and lingering problems in the labour market.
Meanwhile, US new home construction fell 2.0 per cent and wholesale prices dropped 0.8 per cent in January, pulled down by the plunge in petrol prices.
In local economic news on Thursday, the CoreLogic RP Data Residential Land Report for the September quarter is due out.
In equities news, Wesfarmers, Virgin Australia, Fairfax Media, Crown Resorts, Origin Energy, Webjet, Tatts, Drillsearch, iiNet and Super Retail Group are among the companies expected to post half year results, while AMP and Oceana Gold are slated to release full year results.
In Australia, the market on Wednesday hit another new six-and-a-half year high as a massive takeover offer for logistics group Toll sent its stocks soaring.
The benchmark S&P/ASX200 index was up 57.5 points, or 0.98 per cent, at 5,915.7 points.
The broader All Ordinaries index was up 55.6 points, or 0.95 per cent, at 5,877.9 points.
At 0630 AEDT on Thursday, the local dollar was trading at 78.32 US cents, up from 78.23 cents on Wednesday.
The Fed does not appear ready to start raising its interest rates anytime soon, with officials expressing concerns about inflation and lingering problems in the labour market.
Meanwhile, US new home construction fell 2.0 per cent and wholesale prices dropped 0.8 per cent in January, pulled down by the plunge in petrol prices.
In local economic news on Thursday, the CoreLogic RP Data Residential Land Report for the September quarter is due out.
In equities news, Wesfarmers, Virgin Australia, Fairfax Media, Crown Resorts, Origin Energy, Webjet, Tatts, Drillsearch, iiNet and Super Retail Group are among the companies expected to post half year results, while AMP and Oceana Gold are slated to release full year results.
In Australia, the market on Wednesday hit another new six-and-a-half year high as a massive takeover offer for logistics group Toll sent its stocks soaring.
The benchmark S&P/ASX200 index was up 57.5 points, or 0.98 per cent, at 5,915.7 points.
The broader All Ordinaries index was up 55.6 points, or 0.95 per cent, at 5,877.9 points.
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