Australian Dollar opens the week higher against most major currencies

In short

1. The Australian dollar rose on Friday night
2. It has opened higher against the US Dollar (USD), Euro (EUR), British Pound (GBP), Japanese Yen (JPY) and New Zealand Dollar (NZD)
3. Chinese GDP data out on Friday

The Australian dollar has opened up agains most major currencies this morning following a strong Friday night.

The move higher in the AUD to USD exchange rate was largely driven by a weaker US dollar. Non Farm Payroll figures came on Friday night. They are a good measure of employment in the US. While the figures did show jobs grown of over 140,000 , it was lower than what was expected which moved the USD slightly lower.

Interestingly, the Australian dollar also moved up against

• The Euro to above 62 cents
• The Japanese Yen to above 75.50 from 75
• The NZ Dollar to above 1.0400
• The British Pound to open just under 53 pence

This broad based strength in the Aussie dollar signals it could move higher this week.