Topic: Australian Dollar

Investors should expect a rally in the Australian stock market, as the Aussie dollar slips below parity against the U.S. dollar, experts told CNBC.

Australian employment far outpaced expectations by adding 15,500 in April while the unemployment rate surprisingly dipped to 4.9 percent, sending the local dollar higher as it should lessen the pressure for aggressive cuts in interest rates.

Australia's retail sales posted their biggest jump in nearly a year in March, an encouraging end to the quarter amid industry hopes for a sustained pick-up after a surprisingly large interest rate cut last week.

China's non-Manufacturing Purchasing Managers' Index (PMI) showed on Thursday that the services sector cooled last month, retreating from March's ten-month high to hit 56.1 in April.

With controversy building over its role in a Mexican bribery scandal, Wal-Mart’s desire to stay out of the limelight will now be put to a test. To help weather the fallout, Wal-Mart will rely on the relationships it has worked assiduously to develop in Washington during the last decade — relationships that its critics say have insulated it from political threats. The NYT reports.

House prices in Australia's major cities fell for the fifth straight quarter in the three months to March, underlining the weakness of the housing market in general and adding to pressure for an immediate cut in interest rates.

The Australian dollar fell sharply after the Reserve Bank of Australia slashed rates by a deeper-than-expected 50 basis points.

The euro dropped against the dollar on Monday and was on track for its worst month since December, weighed down by news of Spain slipping back into recession and signs of weaker economic momentum in the United States.

The euro recouped losses on Friday after a smooth Italian bond auction eased concerns over peripheral euro zone debt markets.

The euro was little changed against the dollar in a volatile session on Thursday which saw the single currency swing from a three-week high to losses and then higher after signs of a pickup in U.S. housing raised risk appetite.

The dollar gained against the yen and euro on Wednesday after the Federal Reserve gave no hints of further stimulus to the U.S. economy before 2014.

Australian consumer prices rose by far less than expected last quarter and underlying inflation was the slowest in over a decade, clearing the way for a cut in interest rates next week and knocking the local dollar.

The dollar slipped against the euro on Tuesday after data suggesting U.S. home prices may be stabilizing spurred investors to seek higher returns beyond U.S. borders.

The euro slid against the dollar on Monday after two days of gains, rattled by poor euro zone data and concerns that the region's debt crisis could spread to other healthier European nations after Dutch officials failed to agree on budget cuts.

The euro rose on Friday as investors took on more risk after a better-than-expected German business sentiment survey and news that the G20 pledged to increase the IMF's resources by $400 billion.