3min read
PREVIOUS ARTICLE Facebook moves to make more vi... NEXT ARTICLE Stocks to watch...

The Australian dollar has extended the gains it made on better-than-expected jobs figures to be higher still against a stronger US dollar.

At 0635 AEDT on Friday, the Australian dollar was worth 76.76 US cents, up from 76.65 US cents on Thursday.

Westpac’s Imre Speizer described the markets as ‘fairly contained’ overnight with the European Central Bank and the Bank of England keeping their interest rates on hold, which had been expected.

And, the Australian dollar had added to the gains it made following the better-than-expected local jobs data.

‘The US dollar index is up 0.1 per cent on the day…. (and the) AUD extended its earlier jobs data-related gains to 0.7680 – a one-month high,’ Mr Speizer said in a Friday morning note.

Helping the US dollar were US retail sales data which showed a 0.8 per cent in November, which far surpassed expectations of a 0.3 per cent lift and the US Manufacturing PMI (Markit) which rose from 53.9 to 55.0 when it was expected to be unchanged.

There is no major local event risk for the local currency expected on Friday.

The Australian dollar would likely retain upward momentum, with the next technical target its November 2 higher of 77. 30 US cents ‘which probably requires the USD to remain subdued,’ Mr Speizer said.

The Aussie dollar is also higher against the euro but has fallen against the yen.

CURRENCY SNAPSHOT AT 0635 AEDT ON FRIDAY

One Australian dollar buys:

* 76.76 US cents, from 76.65 on Thursday

* 86.08 Japanese yen, from 86.31 yen

* 65.07 euro cents, from 64.82 euro cents

(*Currency closes taken at 1700 AEDT previous local session)