Currency Update: Yesterday the AUD rallied again, with trade data, retail sales and business confidence all beating expectations

Bell Potter

Stockbroker

Currency Update: Yesterday the AUD rallied again, with trade data, retail sales and business confidence all beating expectations. The AUD hit a 4 week high after Australian Bureau of Statistics data showed a surplus of $468 million in December. This contrasts with US figures, released overnight, which show America's trade deficit widened sharply in December following a decline in exports. Today in Australia, the RBA releases its Quarterly Statement on Monetary Policy. The big news in Europe overnight was the ECB keeping rates unchanged and providing no further stimulus. This saw strong gains in European equities and the EUR and GBP pound are up against the USD. The European Central Bank made no change to policy. The Bank of England also left policy unchanged. Tonight the major focus will be on US employment data.


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Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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