THE Australian dollar is up half a
US cent after the Federal Reserve’s chief appeared to be in no hurry to
raise the central bank’s interest rate.
At 0630 AEDT on Wednesday, the local dollar was trading at 78.23 US cents, up from 77.70 cents on Tuesday.
Fed chair Janet Yellen told a Congressional committee that the US labour market still showed some weakness and inflation continued to fall, making any interest rate hike unlikely before June.
In local economic news on Wednesday, the Australian Bureau of Statistics is due to release the wage price index along with construction work done figures, both for the December quarter. In equities news, Westfield Corporation is slated to post full year results.
Southern Cross Media, Seven Group, WorleyParsons, Mortgage Choice, Charter Hall Group and Veda Group are expected to release half year results.
In Australia, the market on Tuesday hit another new seven year high, boosted by what investors considered a good financial result from BHP Billiton despite a big drop in the global miner’s profit. The benchmark S&P/ASX200 index rose 19.0 points, or 0.32 per cent, at 5,927 points.
At 0630 AEDT on Wednesday, the local dollar was trading at 78.23 US cents, up from 77.70 cents on Tuesday.
Fed chair Janet Yellen told a Congressional committee that the US labour market still showed some weakness and inflation continued to fall, making any interest rate hike unlikely before June.
In local economic news on Wednesday, the Australian Bureau of Statistics is due to release the wage price index along with construction work done figures, both for the December quarter. In equities news, Westfield Corporation is slated to post full year results.
Southern Cross Media, Seven Group, WorleyParsons, Mortgage Choice, Charter Hall Group and Veda Group are expected to release half year results.
In Australia, the market on Tuesday hit another new seven year high, boosted by what investors considered a good financial result from BHP Billiton despite a big drop in the global miner’s profit. The benchmark S&P/ASX200 index rose 19.0 points, or 0.32 per cent, at 5,927 points.
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