THE Australian dollar has bounced back above 78 US cents despite growing concerns over a Greek debt default.
At 0630 AEDT on Tuesday, the local currency was trading at 78.21 US cents, up from 77.77 cents on Monday.
The Australian dollar has rebounded from disappointing Chinese trade data, despite the growing concerns over Greece, which have weighed on share markets overnight.
In a rousing policy speech to parliament, Greek Prime Minister Alexis Tsipras refused to apply for an extension for an international bailout, raising the prospects that the country could quit the eurozone.
In local economic news on Tuesday, National Australia Bank will release its monthly business survey while the Australian Bureau of Statistics will release quarterly property price data.
In equities news, law firm Slater and Gordon are expected to release their half year results, along with biotech firm Cochlear.
In Australia, the market’s stellar run came to an end on Monday as a sharp drop in Chinese imports caused weakness in the mining sector.
The benchmark S&P/ASX200 index was down 5.3 points, or 0.09 per cent, at 5,814.5. The broader All Ordinaries index was down 4.6 points, or 0.08 per cent, at 5,770.1.
At 0630 AEDT on Tuesday, the local currency was trading at 78.21 US cents, up from 77.77 cents on Monday.
The Australian dollar has rebounded from disappointing Chinese trade data, despite the growing concerns over Greece, which have weighed on share markets overnight.
In a rousing policy speech to parliament, Greek Prime Minister Alexis Tsipras refused to apply for an extension for an international bailout, raising the prospects that the country could quit the eurozone.
In local economic news on Tuesday, National Australia Bank will release its monthly business survey while the Australian Bureau of Statistics will release quarterly property price data.
In equities news, law firm Slater and Gordon are expected to release their half year results, along with biotech firm Cochlear.
In Australia, the market’s stellar run came to an end on Monday as a sharp drop in Chinese imports caused weakness in the mining sector.
The benchmark S&P/ASX200 index was down 5.3 points, or 0.09 per cent, at 5,814.5. The broader All Ordinaries index was down 4.6 points, or 0.08 per cent, at 5,770.1.
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