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Dollar rate increase a bit
Australia, April 28, 2010 – At 5pm (AEST), the dollar was trading at $US0.9247/50, up 0.58 per cent from Friday’s close of $US0.9193/95 and from 7am (AEST) today, the local unit traded between $US0.9237 and $US0.9286. This has been reported from the news lately that despite of the weaker performance regarding the share markets fortunately the dollar rate showed increase with its currency.
According to Tim Waterer the CMC Markets foreign exchange dealer that the dollar rates get a short term support from the price index in which expected higher that it seems in the quarter of March. “I think we can put that mainly down to a day of lacklustre trading on the local equity market,” Mr Waterer said.
From the ABS report that the producer price index (PPI) with its final stage of production has been stated to increase by 1.0 per cent in the March quarter but fell by 0.1 per cent over the 12 months to the end of March. Exact time of 4.15pm (AEST) the benchmark S&P/ASX200 index was 1.5 points, or 0.03 per cent lower, at 4,880 points, at the same time as the broader All Ordinaries index was flat at 4913.3 points. Watere added that the shortage and the currency trading have weakened most in the Asia region.
Mr Waterer predicted the currency of the dollar to move between $US0.9210 and $US0.9290.
Source:
news.com.au
