Jamelle Agbuis

Soaring bank shares led the broader U.S. stock market higher Tuesday as Bank of America raised hopes it will increase dividends and share buybacks.

US chain store sales rose 2.3pct last week compared with the prior week. Chain store sales are up 2.6pct on the same period a year ago.

The Australian Dollar opens up trading this morning in the low 1.0100’s after weaker equity markets and rising concerns about the tension in the Middle East.

The Australian Dollar was supported above US101 cents during Monday's Asian session after the ANZ series of job advertisements rose for the tenth consecutive month.

The technology sector led U.S. stocks lower Monday as an analyst downgrade weighed on the sector while investors continued to fret over the potential impact of rising oil prices.

US consumer credit surged by $5.01 billion in January, well ahead of analyst expectations and marked the fourth straight monthly gain.

The Australian sharemarket has wiped out all last week's modest gains after just a few hours of trade this morning.

The Australian Dollar opens up trading this morning in the mid 1.0100’s after the release of jobs data in the US on Friday which was close to expectations.

After much caution on Friday ahead of key US jobs data, the Australian Dollar opens the new week little-changed at 1.0126.

Worries about the potential impact of oil's climb above $100 a barrel sent U.S. stocks lower Friday, but came short of wiping out gains recorded earlier in the week.

US non-farm payrolls (employment) rose by 192,000 in February, slightly above expectations for a gain of 185,000. But the unemployment rate fell from 9.0pct to a 2-year low of 8.9pct - below forecasts centred on a result near 9.1pct.

The Australian dollar has opened slightly weaker this morning after the release of stronger than expected US data overnight.

Australian Building Approvals fell by 15.9% for the month of January and our Trade Balance narrowed it was revealed yesterday.

The Australian sharemarket proved resilient to a steady stream of negative news from the Middle East, closing flat on solid performances from resources and healthcare sectors.

US ICSC comparable chain store sales rose 4.2pct in February from a year earlier. Luxury retailers were the standout performer with sales up 10.1pct on a year ago. US initial jobless claims fell by 20,000 to 368,000 in the past week - a 2½-year low.

Australia's GDP rose by 0.7% in Q4, marginally below expectations. The next release for Q1is widely expected to be flat, given the impact of widespread flooding throughout the summer.

The Australian Dollar had a mixed day's trade onshore during Asia yesterday with a better than anticipated 0.4% increase in retail sales initially pushing the Aussie to very briefly test 1.0200.

The Australian sharemarket closed lower as tensions in the Middle East continued to rattle markets and spike up oil prices. The benchmark S&P/ASX200 index fell 23.2 points, or 0.48 per cent, to 4,803.2 points, while the broader All Ordinaries index was down 22.1 points, or 0.45 per cent at 4898.3.

According to the US Federal Reserve´s Beige book, economic activity continued to grow at a moderate pace in January and early February. The report also noted that retail sales increased in all 12 regional bank districts in early 2011, while some retailers had already raised prices or intend to do so in the next few months.

The Australian Dollar has opened lower today after a weak night in US equities driven by renewed concern about the price of oil with a 4% rise in WTI and Brent oil.

US ISM manufacturing rose from 60.8 to 61.4 in January - marking the highest reading in seven years. The new orders sub component also hit a seven year high. The employment sub index rose to its highest reading since 1973.

Comments from a Chinese banker pertaining to monetary policy saw the Australian Dollar finish yesterday's local session almost half a cent higher.

U.S. stocks were mixed Monday as oil prices paused from their recent rally while investors were encouraged by comments from a top Federal Reserve official.

US personal spending rose by a less than expected 0.2pct in January - marking the seventh straight month of gains.

With little influential data released during the offshore session the AUD traded fairly flat, opening only slightly higher this morning at USD1.0180.

The Australian market has started off the week a little lower for the fifth day out of the last six. The All Ordinaries index (XAO) is down 0.2 pct or 12.1 pts to 4912.8. Most sectors are in the red at lunch, however the energy sector is gaining quite strongly after a few hours of trade.

The Australian Dollar has opened firmer this morning, trading around 1.0150 after touching a high of 1.0185 during Friday night's offshore session.

The Australian Dollar gained a full cent during Friday's trade as ongoing concern for rising oil prices and political unrest in Libya weaken the US Dollar.

U.S. stocks rose Friday after three days of losses as shares of Boeing surged and as lessening fears over oil supply helped crude prices stabilize.