Australian dollar up as Chinese industrial profits rise
THE Australian dollar is higher, amid signs that the Chinese economy is recovering from its slump of recent months.
Dollar
Don't miss out on the headlines from Dollar. Followed categories will be added to My News.
THE Australian dollar is higher, amid signs that the Chinese economy is recovering from its slump of recent months.
At 0630 AEST on Tuesday, the local unit was trading at 94.08 US cents, up from 93.89 cents on Monday.
Chinese industrial profits grew by 11.4 per cent in the month of June and rose by 17.9 per cent in the year to June.
Originally published as Australian dollar up as Chinese industrial profits rise
ASX marks second best close on record
The Australian sharemarket closed just off a record high on Thursday, as renewed optimism in the US-China relationship, spurred a rally in key stocks.
Coles slammed over mass product cull
Nationals leader David Littleproud has hit out at Coles after the supermarket giant flagged a cull in its product range, claiming prices at the checkout would rise.