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Dollar edges higher


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The Australian dollar is slightly higher as investors wait for the release of important US jobs data.

At midday Friday, the local currency was trading at 92.40 US cents, up from 92.14 cents on Thursday.

US non-farm payrolls data for March is due to be released on Friday night, and will influence where the Aussie dollar goes next, ThinkForex senior markets analyst Matt Simpson said.

Poor jobs figures could see the Australian dollar rise against its US counterpart to 93.50 US cents, he said.

“But there’s been a general feeling the ‘weather-effect’ we experienced over the past two releases has thawed and we may see a positive jobs figure,” Mr Simpson said.

“If we see particularly good employment figures then I’d expect to see the Australian dollar target 91.70, 91.50 US cents.”

Meanwhile, Australian bond futures prices were higher.

At 1200 AEDT on Friday, the June 2014 10-year bond futures contract was trading at 95.835 (implying a yield of 4.165 per cent), up from 95.800 (4.200 per cent) on Thursday.

The June 2014 three-year bond futures contract was at 96.890 (3.110 per cent), up from 96.880 (3.120 per cent).

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