MARKET NEWS

$A continues to rise against subdued $US
21/07/2017 6:35 AM

The Australian dollar has held on to gains after it received a boost from the latest employment numbers which showed another rise in full-time employment.

At 0630 AEST on Friday the local currency was worth 79.58 US cents, from 79.23 US cents on Thursday.

The Aussie dollar spiked on Thursday, on the back of the news the Australian economy added 14,000 jobs in June, with full-time employment up by 62,000 - the second strongest one month increase in full time work since June 2011.

It came close to hitting 80 US cents before falling back to 79.24 US cents at 1700 AEST.

On Friday, the local currency surged well above 79 US cents, supported by a subdued US dollar.

The Aussie was also stronger against the Japanese yen, however lost momentum against the euro, which rose after the European Central Bank signalled tapering would be considered in a few months' time.

One Australian dollar buys:

* 79.58 US cents, up from 79.23 on Thursday

* 89.05 Japanese yen, up from 88.8 yen

* 68.42 euro cents, down from 69.02 euro cents

(*Currency closes taken at 1700 AEST previous local session)

$A strong ahead of employment data
20/07/2017 6:59 AM

The Australian dollar has continued to make gains, helped by a recovery in iron ore and oil prices and as traders stay bullish ahead of employment data later on Thursday.

At 0637 AEST on Thursday, the local currency was worth 79.54 US cents, from 79.22 US cents on Wednesday.

June employment data released by the Australian Bureau of Statistics is expected to show employment numbers increase by 15,000, according to market estimates and FXStreet analyst Valeria Bednarik said this would be an important factor in Thursday's session.

"Better-than-expected numbers, particularly with gains in full-employment, should result in a break above the 80 centsthreshold, with the upward momentum expected to accelerate then," she said.

On Wednesday, the local currency stayed at its highest level since May 2015, supported by higher commodity prices and a subdued US dollar.

The Aussie also made gains against the Japanese yen and the euro.

One Australian dollar buys:

* 79.54 US cents, up from 79.22 on Wednesday

* 88.96 Japanese yen, from 88.81 yen

* 69.08 euro cents, from 68.72 euro cents

(*Currency closes taken at 1700 AEST previous local session)

$A holds on to two-year high against $US
19/07/2017 6:38 AM

The Australian dollar has held on to its two-year high against its US counterpart, on the back of an upbeat assessment of the economy in the minutes of the Reserve Bank of Australia's July policy meeting.

At 0630 AEST on Wednesday, the local currency was worth 79.17 US cents, from 79.15 US cents on Tuesday.

Unexpected commentary from the RBA on Tuesday, which indicated a potentially more open mind to rate hikes, and a falling greenback combined to push the Aussie dollar to its highest level in more than two years.

The Australian dollar surpassed 79 US cents for the first time since May, 2015 and was trading at 79.16 US cents at 1700 AEST on Tuesday, having retreated from a session high of 79.24 US cents.

On Wednesday, the local currency continued to rise strongly as the US dollar remained weak against a basket of major currencies, after two more Republican senators doomed the Senate's attempt to replace and repeal America's national health care.

Despite the Aussie's gain against its US counterpart, the local currency fell against the yen and the euro.

One Australian dollar buys:

* 79.17 US cents, up from 79.15 on Tuesday

* 88.69 Japanese yen, from 88.75 yen

* 68.53 euro cents, from 68.66 euro cents

(*Currency closes taken at 1700 AEST previous local session)