Aust Dollar Back Above US80c

The Australian dollar has recovered some ground after briefly dipping below US80c on the back of the European Central Bank economic stimulus decision. The currency dropped to a five-and-a-half year low of US79.95c on Friday morning after losing more than half a US cent overnight following the unveiling of the European Central Bank’s 60 billion euros ($85bn) a month stimulus plan. By 12.00pm (AEDT), the Australian dollar had bounced back to US80.34c, but was still down from US80.66c on Thursday. The ECB’s bond buying program was a little...

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Shares Jump After Energy Price Rebound

The Australian share market is rising strongly, with energy and resource stocks aided by a rebound in global oil prices over the weekend. Shortly before the midday (AEDT) the ASX 200 had added 69 points, or 1.3 per cent, to 5,368. The All Ordinaries index was 66 points higher at 5,343. Local investors are following the lead set by healthy gains on Wall Street on Friday night, when the S&P 500 rose 1.3 per cent. That rise was underpinned by a 5 per cent bounce in West Texas crude oil, to $US48.44 a barrel. As a result, oil-exposed Australian-listed...

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