Finance news you need to know today

NORDSTROM’S sales of first daughter Ivanka Trump’s line of clothing and shoes fell by nearly one-third in the past fiscal year.

HERE are five things making news in business and finance today.

1. SYDNEY — The Australian market looks set to open higher after international markets put in strong performances across the board in their last session. At 0704 AEDT on Monday, the share price futures index was up 10 points at 5,677.

2. SYDNEY — Meanwhile, the Australian dollar has outperformed, and is up against its US counterpart despite the US dollar also lifting against a basket of currencies. The local currency, whose lift coincided with a rise in the iron ore price, was trading at 76.81 US cents at 0704 AEDT on Monday, from 76.40 on Friday.

3. DUBAI — The head of the International Monetary Fund says US President Donald Trump taking office is likely good for the American economy in the short term, though rising interest rates and a strengthening dollar will challenge global trade.

4. LOS ANGELES — A campaign is building in Washington DC for Australian Prime Minister Malcolm Turnbull to address a joint meeting of US Congress, a rare honour bestowed on world leaders including Winston Churchill, Nelson Mandela and Pope Francis.

5. WASHINGTON DC — Nordstrom’s sales of first daughter Ivanka Trump’s line of clothing and shoes fell by nearly one-third in the past fiscal year, with sharp drops in sales weeks before the election, the Wall Street Journal reports.