Aussie Dollar Flirts with 5-Year Low

Marcus Jacob
10 Mar, 2015
New York City

Australian dollar weakened along with currencies in Asia and emerging markets on the resurgent dollar. Gold declined and iron ore prices eased. AMP Limited raised $540 million for its global infrastructure fund.

[R]5:30 PM Sydney – Australian dollar weakened along with currencies in Asia and emerging markets on the resurgent dollar. Gold declined and iron ore prices eased. AMP Limited raised $540 million for its global infrastructure fund.[/R]

Australian indexes opened higher and advanced in the first two hours of trading. However, market sentiment reversed in the early afternoon and by close most of gains of the session were erased.

Australian dollar closed at 76.52 U.S. cents and in stock trading turnover increased to 784 million shares worth $4.8 billion.

ASX 200 Index edged up 2.90 to 5,824.20 and broader All Ordinaries Index rose 1.30 to 5,794.30.

In commodities trading, gold declined US$9 to US$1,162 an ounce and light crude oil gained 39 cents to US$50 a barrel.

Brent crude slid 47 cents to close at US$58.06 a barrel.

Australian Stock Movers

AMP Limited rose 0.2% to $6.52 after the banking and investment services provider raised more than US$540 million for its global infrastructure development fund in the six months.

Finbar Group Limited slipped 1.9% to $1.27 after the property developer said the company, on the launch weekend, sold 73 apartments totaling $66 million at its Aurelia Project in South Perth.

Sino Gas & Energy Holdings Limited closed unchanged at 19 cents after the energy company signed an agreement to sell natural gas sell at a price of US$9.62 per thousand cubic feet from Linxing Gas Station which is expected to deliver its first shipment by the mid-year.