The Australian dollar has fallen to a fresh two-month low during overnight trade, before recovering most of its lost ground amid gains on US share markets.
The blue-chip Dow Jones Industrial Average has closed above 15,000 for the first time as investor optimism about the US economy bolstered equities like Caterpillar.
The Reserve Bank of Australia cut the official interest rate by 25 basis points at its monthly board meeting today, taking rates to a historically low level of 2.75 per cent.
Falling commodity prices and lower than expected Chinese gross domestic profit drove down the total market capitalisation of WA's listed companies by 2.6 per cent in April, combining with a weaker
The Australian dollar is still higher after getting a boost from better US employment figures, increasing optimism about the America's economic recovery.
The Australian sharemarket has opened more than one per cent higher after strong US jobs numbers pushed American stocks to a record high and helped miners outperform the market.
European and US stock markets soared to end last week, with the Dow, S&P 500 and Germany's Dax setting new records, as strong US jobs data for April revived confidence in the US economic recovery.
Perth-based lender P&N bank has pre-empted the Reserve Bank of Australia on interest rates, cutting the rate on its three-year fixed rate home loans to 5.1 per cent.
Shedding light on the social impact of Western Australia's remarkable growth will be a priority focus for the new economics research centre at Curtin University.
The S&P 500 has reached a new all-time high, boosted by an expected European Central Bank interest rate cut and a surprisingly good US jobless claims report.
