THE Australian dollar has hit a four-week high following the release of some strong Chinese manufacturing data.
At 0630 AEDT on Thursday, the local dollar was trading at 78.96 US cents, up from 78.88 cents on Wednesday.
Data released by HSBC on Wednesday showed that Chinese factory activity expanded in February, ending two consecutive months of contraction, a bright spot for the world’s second-largest economy.
In local economic news on Thursday, the Australian Bureau of Statistics is due to release private new capital expenditure and expected expenditure data for the December quarter, along with average weekly time earnings for the six months to November.
In equities news, Sydney Airport is slated to post full year results.
Qantas, Nine Entertainment, Billabong International, Ramsay Health Care, Transfield Services, Perpetual, Blackmores and Ausdrill are expected to release half year results.
Meanwhile, Goodman Fielder has an extraordinary meeting on its takeover proposal.
In Australia, the market on Wednesday edged to yet another seven-year high despite major stocks falling as they traded without dividends.
The benchmark S&P/ASX200 index was up 17.9 points, or 0.3 per cent, at 5,944.9 points.
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| On Thursday morning, the dollar was trading at 78.96 US cents. |
At 0630 AEDT on Thursday, the local dollar was trading at 78.96 US cents, up from 78.88 cents on Wednesday.
Data released by HSBC on Wednesday showed that Chinese factory activity expanded in February, ending two consecutive months of contraction, a bright spot for the world’s second-largest economy.
In local economic news on Thursday, the Australian Bureau of Statistics is due to release private new capital expenditure and expected expenditure data for the December quarter, along with average weekly time earnings for the six months to November.
In equities news, Sydney Airport is slated to post full year results.
Qantas, Nine Entertainment, Billabong International, Ramsay Health Care, Transfield Services, Perpetual, Blackmores and Ausdrill are expected to release half year results.
Meanwhile, Goodman Fielder has an extraordinary meeting on its takeover proposal.
In Australia, the market on Wednesday edged to yet another seven-year high despite major stocks falling as they traded without dividends.
The benchmark S&P/ASX200 index was up 17.9 points, or 0.3 per cent, at 5,944.9 points.
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