Aussie dollar falls to Covid low
The Australian dollar has fallen to a near-five-year low that is the worst seen since Covid.
The Australian dollar has fallen to a near-five-year low that is the worst seen since Covid.
The ASX 200 tumbled during Tuesday’s trading with A-REITs, consumer discretionary and financial stocks all down more than 1 per cent.
The Australian share market has endured a shocker final full day of trading for 2024 – with all but one sector closing the day lower.
Investors received a late Christmas present with the ASX 200 rising on the first trading session following the holiday break.
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A sharp sell-off in information technology and energy stocks dragged the Australian markets down during Wednesday’s trading.
A sharp sell-off in banking and tech stocks pushed the Australian sharemarket into the red on Tuesday, even as the heavyweight mining sector soared.
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The ASX 200 has traded down following weak investor sentiment and a key piece of US data coming out overnight.
The local market traded higher on Thursday but was unable to close above 8500 points due to a pullback in the afternoon’s trading.
A surprise jump in spending in major two areas has given early indications Aussies are starting to spend again, in spite of a high cost of living.
A leading mining figure has delivered a dark speech warning that Australians will need to “do more, move faster and work harder” to maintain prosperity.
Australian economic prospects have rarely been more bleak – and fears are growing that the dollar is headed for an almighty fall.
The Australian sharemarket has fallen just days after cracking a record high 8500 points in a broad market sell-off on Wednesday.
Original URL: https://www.adelaidenow.com.au/business/markets/australian-dollar/page/3