Last night the Australian Dollar increased massively after interest rates were cut by 0.25 percent. The cuts take the cash rate to the lowest its been since October 2009.
US
manufacturing data released overnight had boosted the local currency.
We saw some key manufacturing indicators, and on balance, they've seemed less gloomy than expectations.
That's started the quarter on a relatively positive note.
The
equity market posted good gains, commodity prices were up, and a
general risk-on sentiment pulled the Aussie dollar higher.
Overnight, the Institute of Supply Management in the US said its
index of factory activity rose 51.5 in September, from 49.6 in August.
In China on Monday, the NBS purchasing managers' index (PMI) showed a slight rise in September to 49.8 from 49.2 in August.
Pound To Australian Dollar - 1.5675
Euro to Australian Dollar - 1.2529
US Dollar to Australian Dollar - 0.9704
Bye For Now
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