Jamelle Agbuis

The Australian dollar has opened stronger today trading at 1.0050 following news that the dangerous situation in Japan is easing.

The Australian Dollar (1.0050) moved slowly and steadily upwards in Asian trade yesterday as commodities in general started the week on a firmer foot and news out of Japan confirmed that 2 out of the 6 reactors at the Fukushima Nuclear Power Plant were under control.

US existing home sales fell by 9.6pct in February to an annual rate of 4.88 million - a near nine year low and more than double the fall analysts had expected. The supply of homes available for sale rose to 8.6 months.

The Australian dollar has opened firmly in the mid 0.9900’s this morning after one of the wildest weeks in the currency markets since the GFC in late 2008.

The Australian Dollar has bounced dramatically off 3-month lows against the greenback around the 0.9780 area and opens the new week at 0.9950.

The Group of Seven nations intervened in currency markets on Friday to reduce the value of the Japanese yen - the first co-ordinated intervention since 2000. A strong yen would hamper economic recovery in Japan.

The Australian dollar has opened lower this morning as investors remain focused on news from Japan overnight.

U.S. stocks were on track to post their first gain in four sessions Thursday as bets that rebuilding efforts in Japan could lift energy and industrial companies and offset anxieties around the country's nuclear power crisis.

US consumer prices rose by 0.5pct in February - marking the largest monthly increase in 18 months. In the 12 months to February consumer prices were up 2.1pct. Gasoline prices was the key driver rising by 4.7pct.

The AUD has gone into freefall this morning as fears grow over the ongoing nuclear crisis in Japan.

News of another explosion at the Fukushima nuclear power station sent shockwaves through global markets.

The Australian share market closed in the black for the first time in the past six trading sessions, triggered by strong gains in Tokyo and buoyed by bargain hunting.

US producer prices rose by 1.6pct in February - marking the largest monthly increase in 18 months. In the 12 months to February producer prices were up 5.6pct. Energy price surged by 3.3pct in February.

The Australian Dollar weakened against the US Dollar as Japan's biggest earthquake dampened demand for higher yielding assets.

U.S. stocks fell to six-week lows Monday as investors worried about the financialfallout from Japan's devastating earthquake and tsunami.

The OECD leading economic indicator rose from 102.8 to 103.1 in January with gauges for most industrialised economies strengthening in the month except China, India and Brazil.

The Australian Dollar climbed following reports of increased industrial production and steady inflation for China.

The Australian share market has suffered its worst weekly fall in just over nine months, losing ground on Friday as sentiment was further eroded by economic concerns in Europe and the United States.

US retail sales rose by 1.0pct in February - in line with forecasts and the strongest gain in four months. Excluding autos, sales rose 0.7pct.

The Australian dollar has opened lower this morning as disappointing Chinese trade data weighed on markets overnight.

The Australian Dollar moved lower overnight on a renewed bout of risk aversion and opens today at parity with the greenback.

Blue-chip stocks suffered their biggest intraday drop since October as reports of Saudi police firing on protesters added a new worry to a day of broader economic concerns.

The Bank of England left its key lending rate unchanged at 0.50pct on Thursday. The central bank also made no changes to it´s £200 billion program of asset purchases.

The Australian sharemarket is falling for the second straight day with the All Ordinaries index (XAO) 1.2 pct or 58.6 pts lower to 4804.6. Almost all sectors are lower except for the defensive healthcare space.

The Australian dollar has traded in a relatively tight range overnight, with this trend likely to continue until later this morning when employment data for February is due to be released.

The Australian Dollar traded in a 40 pip range (1.0060 - 1.0100) during the Asian time zone with the market holding steady in buying or selling the local unit. Despite a relatively downbeat reading in the Westpac Consumer Sentiment report (Actual -2.4%; Previous 1.4%), its lowest reading since July 2010, as investors still continue to weigh up the timing of the next move in domestic interest rates.

The Australian share market closed lower as investors ignored a positive lead from United States markets and pulled back from the resources sector.

US wholesale inventories rose by 1.1pct in January to $436.88 billion the highest level since November 2008.

The Australian Dollar is weaker this morning, currently around the USD1.0100 level as equity markets recovered their previous day’s losses and oil eased.