Australian dollar strengthens

dollarThe Australian dollar is up against the US dollar ahead of US President-elect Donald Trump’s closely-watched inauguration and speech.

The local currency was trading at 75.43 US cents at 0630 AEDT on Friday, up from 75.23 on Thursday. The Aussie hit 75.74 US cents Thursday evening Australian time.

The president-elect is expected to detail his infrastructure spending plans during his speech, which will put an end to weeks of market speculation and uncertainty.

The Aussie is also stronger against the Chinese Yuan this morning, trading at 5.19 CNY at 0811 AEDT on Friday, up from 5.12 on Thursday.

The move comes as markets await the release of Chinese GDP data later today, which could set the pace for both the Chinese and Australian economies in 2017.

Chinese GDP reports are expected to be released at 1pm AEDT today.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.


Comment Manually


When Crumpler CEO Adam Wilkinson stepped up to lead the Tigerlily brand earlier this year, he asked customers for f…

22 hours ago

The supermarket giant has received the highest ever fine issued by the Australian Communications and Media Authorit…

2 days ago

Kathmandu's sales have risen sharply over the past six weeks, but CEO Xavier Simonet remains cautious about the ret…

2 days ago