The Australian dollar closed on Friday the 16th April 2010 at 1.659 to the British Pound and 1.072 to the US Dollar. The Australian Dollar was higher at noon on Thursday afternoon but had traded in a tight range as investors awaited concrete overseas leads. The Australian Dollar was lower at noon on Friday as ongoing worries about Greece’s public debt had investor off-load holdings on high-risk assets. The Dollar closed lower on Friday as continued concern over Greek debt helped strengthen the US Dollar.
Australians are cautious about adding to their credit debt regardless of optimistic consumer confidence. Recent data released from the Reserve Bank of Australia (RBA) confirmed that the total value of transactions on credit and charge cards increased by 6.05 per cent in February. The average credit card account balance increased by 1.9 per cent to $3,250 in February and it was 3.29 per cent higher than last year.
The Australian share market finished the week on a sour note, after broad-based selling pushed the European stock exchange lower. Energy and well as materials were down, but the financials were about one quarter of a per cent lower. Resources giant, BHP Billiton fell 35 cents to $43.54 and rival Rio Tinto was down $79.67. Macathur Coal jumped up $1.26, or 8.25 per cent, to $16.54 after American coal giant Peabody on Thursday evening made cash offer fro the company at $16 per share.
AUD/USD 0.9326
AUD/EUR 0.688
AUD/GBP 0.6037
AUD/JPY 86.9
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