Australian Economy Archives

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S&P Reforms View on Australia’s AAA Amidst Economic Recovery

Leave a Comment / Stock News / By Benjamin Chadwick

On Monday, June 7, S&P Global Ratings reformed its view on Australia’s AAA rating from negative to stable. It cites the nation’s rapid economic recovery from the coronavirus pandemic, which directed a recession. The country’s A$2 trillion ($1.55 trillion) economy greatly bounced back, surpassing the pre-pandemic levels. This is due to Australia’s successful leadership in …

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29Metals Plans to Raise Us 471 Million in IPO

Leave a Comment / Commodity News / By Penny Collins

Australian copper mining company 29Metals LTD, the country’s second-largest listed company, is seeking to raise U.S. 471 million in an initial public offering with its shareholders in Sydney. According to the terms of the deal, the company plans to issue new shares worth A$245 million. In comparison, existing shareholders, including EMR Capital Advisors, will issue …

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The Australian dollar may gain as the commodity prices soar

Leave a Comment / Forex news / By Benjamin Chadwick

Asia-Pacific markets gained on Monday. However, they may decline slightly today as investors on Wall Street abandoned technology stocks. Valuation concerns, along with coronavirus pandemic worries, linger over the global economic backdrop. On Tuesday, the tech-heavy Nasdaq 100 index tumbled down by 0.60%, while the Dow Jones Industrial Average ended the session 0.16% lower. …

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Australia S&P/ASX 200 up 0.27%, Japan’s Nikkei 225 up 0.09%

Leave a Comment / Stock News / By Benjamin Chadwick

Australia stocks edged higher after the close on Friday. As rises in the Gold, Metals & Mining, and Resources sectors, in particular, led shares higher. The S&P/ASX 200 rose 0.27% at the close in Sydney. On the S&P/ASX 200, the session’s best performers were Webjet Ltd, rising 7.42% or 0.33 points to trade at 4.78 …

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The Australian Dollar Gained Today. What Is the Forecast?

Leave a Comment / Forex news / By Penny Collins

The commodity currencies soared on Thursday. The Australian dollar rallied as high as $0.7754 for the first time since March 23, following a 1% surge from the previous day when it broke out of its tight trading band for the first time over the past few weeks. The New Zealand dollar also soared to a …

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Who Suffers and Who Benefits from Rising Commodity Prices?

Leave a Comment / Commodity News / By Penny Collins

The surge in the price of energy, metals, and crops highlights some economies’ strengths and others’ vulnerabilities. Since November, oil prices have risen 75%. At the same time, the price of copper has reached levels not seen for a decade. Food prices have been increasing every month since May. Petrobras, Brazil’s state oil company, increased …

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Australia to Offer Subsidized Flights to Support Tourism

Leave a Comment / Economy News / By Benjamin Chadwick

Tourism, one of Australia’s biggest industries, is worth more than A$60 billion. It employs about 5% of the country’s workforce. However, the sector was crippled when the nation shut its international borders last year. As travel restrictions were imposed to curtail the spread of COVID-19, tens of thousands of Australians were left on the country’s …

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dollar, Safe-Haven Currencies rose against U.S. Dollar on Wednesday

U.S. dollar rebounded. How did the Aussie and the Kiwi fare?

Leave a Comment / Forex news / By Penny Collins

The U.S. dollar soared on Wednesday, recovering some of the losses from the previous session. U.S. yields rebounded following their plunge from one-year highs, boosting the Dollar as well. On the other hand, riskier currencies, such as the Australian and New Zealand dollars, declined after hoarding big gains on Tuesday. The euro tumbled down by …

U.S. dollar rebounded. How did the Aussie and the Kiwi fare? Read More »

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