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Finance News Update, what you need to know

Finance News Update, what you need to know

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Source: AAP


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WORLD FINANCE UPDATE:

The Australian dollar has outperformed all major currencies as Brexit jitters momentarily fade and commodities bounce.

At 0700 AEST on Thursday, the local unit was trading at 75.21 US cents, up from 74.41 cents on Wednesday.

And the Australian market looks set to open higher following a positive lead from the US, where the Federal Reserve said it wouldn't raise interest rates soon.

At 0650 AEST on Thursday, the share price index was up 36 points to 5,190.

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ELSEWHERE:

WASHINGTON - Federal Reserve policymakers decided in June that interest rate hikes should stay on hold until they have a handle on the consequences of Britain's vote on EU membership, according to the minutes from the Fed's June policy meeting.

WASHINGTON - The US trade deficit widened more than expected in May as rising oil prices helped to push up the import bill while exports were constrained by the lingering effects of a strong dollar.

WASHINGTON - US services firms expanded last month at the fastest pace since November.

LONDON - The number of British property funds suspended following the country's vote to leave the EU has doubled to six, leaving STG15 billion ($A26.19 billion) frozen in the biggest seizing up of investment funds since the 2008 financial crisis.

PARIS - France and Britain are vying for fifth place on the list of the world's biggest economies, with France nudging ahead after a renewed slump in the pound in the wake of the Brexit vote, Reuters calculations show.


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