James Kong

Poor growth data released in Japan yesterday was enough for investors to once again eschew riskier assets which saw the Australian Dollar dip towards 0.8860 early in the Asian session.

The local market opened lower today following a weak lead from overseas on the weekend.

The Australian share market has started the trading week in the red, as losses from the banks and miners weigh on overall sentiment. The All Ordinaries Index (XAO) is down 25.4pts or 0.6pct to 4455.5 at lunchtime in the East.

The Australian Dollar has opened weaker this morning trading around the 0.8950 level after a fairly quiet US session on Friday night in which US data releases were not that bad in relation to consensus.

US retail sales rose by 0.4pct in July, following a revised 0.3pct drop in June. The July result was marginally below forecasts for a gain of 0.5pct. Excluding autos and gasoline, sales rose fell by 0.1pct. US consumer sentiment rose from the final June reading of 67.8 to 69.6 in July.

U.S. stocks fell slightly Friday, with Intel, DuPont and Home Depot among the decliners in the final session of the market's worst week since early July.

The Australian Dollar opens a shade lower on Monday at 0.8928 as risk aversion keeps a lid on high-yielding currencies.

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The Australian stock market finished over one per cent higher, led by gains in the mining and energy sectors, as investors took the previous day's decline as a buying opportunity.

It was a quiet night for currencies overnight, the AUD grinding higher at one stage, back above USD0.9000.

The Aussie dollar experienced a roller coaster ride over the last 24 hours dropping to 0.8920 in Asia before bouncing back to 90 cents in early Europe only to retest 0.8920 in North American trade overnight.

U.S. stocks fell for a third straight day Thursday as a revenue warning from Cisco Systems weighed on other technology stocks, including Hewlett-Packard and Microsoft, while disappointing U.S. jobs data also sent jitters across the market.

The Australian share market closed sharply lower, dragged down by weaker banks and miners as concerns about the global outlook hampered investor appetite for risk.

The Australian market fell sharply today following negative leads from the US overnight.

The Australian Dollar continued to be sold off late yesterday and into the evening trading session ahead of the widely anticipated FOMC Meeting overnight.

The US Federal Reserve has left the federal funds target between zero and 0.25 percent but it has elected to further support a slowing economy.

U.S. stocks fell Tuesday as weakness in the supply chain system for personal computers weighed on Intel and Microsoft while signs of tapering demand in China weighed on materials stocks including Alcoa.

The Aussie dollar traded lower yesterday dropping from 0.9160 to an Asian session low of 0.9105 following a disappointing NAB Business survey and Chinese Trade data which soured sentiment towards growth in the region.

Thin trading volumes and weak economic data saw the Australian share market ease today, with both major indices shedding 1.2pct. The All Ordinaries Index (XAO) fell 52.6pts to 4563 while the S&P/ASX 200 Index (XJO) was off 54.2pts to 4540.7.

U.S. stocks rose Monday following encouraging sales results from McDonald's and as technology companies Cisco Systems and International Business Machines benefited from rival Hewlett-Packard's moment of weakness.

The US Conference Board employment trends index rose from 96.7 to 97.0 in July.

The AUD has opened slightly weaker this morning currently trading at USD 0.9160 as many investors square up some positions before the Federal Reserve's meeting tonight.

A larger than forecast 3.9% decline in Australian home loans during June and disappointing ANZ job advertisements data halted the progress of the Aussie dollar in Asia yesterday as it entered offshore exchange relatively unchanged from the weeks open at 0.9185.

The Australian share market closed in positive territory amid expectations of strong results from the materials sector and a good performance from energy and financial stocks.

The Australian Dollar has opened this morning just under 0.9200 after breaching this level on Friday night after the market digested the release of US July non-farm payrolls that saw a decline of 131k in the month, which was more than the forecast loss of 65k.

US non-farm payrolls (employment) fell by 131,000 in July, above expectations for a decline of 87,000.

U.S. stocks fell modestly in a day of volatile trading Friday, after a disappointing jobs report cast fresh doubts over hopes for the U.S. economic recovery.

Friday's release of the RBA Monetary Policy statement swayed little from the recent central bank rhetoric with a relatively neutral document.

The Australian share market closed flat, paring back early losses during the afternoon trade in quiet trading conditions.