Australia
Tuesday, 07 May 2013 04:19
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SYDNEY: The euro struggled to gain any momentum in early Asian trade on Tuesday, while the Australian dollar nursed losses as bears bet on the prospect of a cut in interest rates later in the session.The common currency was at $1.3073, having pulled back from Monday's high of $1.3141. It fell as far as $1.3053 after the head of the European Central Bank (ECB) reiterated the central bank's readiness to cut interest rates again if needed.In a speech in Rome, ECB President Mario Draghi said the bank would monitor incoming data closely and be ready to cut rates further, including the deposit rate currently at zero.Initial support for the euro is seen around $1.3024, the 76.4 percent retracement of its April 24-May 1 rally and the 55-day moving average at $1.3021.Vassili Serebriakov, strategist at BNP Paribas, said further downside risks for the euro are likely to be limited thanks to ...
SYDNEY: Australian shares rose 0.7 percent on Thursday, underpinned by the financial sector as record overnight highs for the Dow Jones Industrial Average and the S&P 500 boosted risk appetites.Among banks, Westpac Banking Corp rallied 1.7 percent while biggest lender the Commonwealth Bank of Australia climbed 1.1 percent.The S&P/ASX 200 index added 31.4 points to 4,999.4 by 0201 GMT, after reaching an intraday high of 5,013.2. The index fell 0.2 percent on Wednesday.Miguel Audencial, sales ...
SYDNEY: The yen held near one-month highs on Wednesday, remaining susceptible to bursts of short-covering as political uncertainty in Italy kept the euro under the gun.
Comments from Federal Reserve Chairman Ben Bernanke that eased market concerns of an early end to the Fed's bond buying programme, also somewhat cooled demand for the greenback.
The dollar was at 91.99 yen, up from a one-month low of 90.85 touched on Monday. The euro stood at 120.18, having skidded ...
WELLINGTON: The local government authority for New Zealand city's biggest city Auckland said on Thursday it was putting a planned issue on hold as it looked at the implications of a court case.
Earlier this week, the Auckland Council had announced plans for the issue of up to NZ$175 million of six year, fixed rate secured bonds for infrastructure and other spending.
However, it said a court decision involving possible council liability for poorly constructed buildings raised ...
WELLINGTON: New Zealand's Auckland Council said on Monday it would look to raise up to NZ$175 million ($143 million) through a bond issue to fund infrastructure.
It said it would offer six year, fixed rate secured bond, with the offer closing on Oct 12, when the interest rate would be finalised.
The rate would be the aggregate of the applicable 6-year swap rate at that time plus a margin of 1.08 per cent per annum on that ...
SYDNEY: US soybeans rose on Thursday to hover below $16 a bushel, as investors looked for bargains following declines in the previous session when renewed concerns over the euro zone debt crisis and the record pace of the US harvest dragged on prices.
Corn, which hit a near three-month low on Wednesday, and wheat both climbed as well.
FUNDAMENTALS
Chicago Board Of Trade November soybeans gained 0.48 percent to $15.80-1/2 a bushel, after closing down 2.39 percent on ...
WELLINGTON/SYDNEY: The Australian and New Zealand dollars were holding ground on the US dollar on Tuesday, but nursed losses against the yen due to Japanese fund repatriation ahead of their half-year book-closing.
The Aussie edges up to $1.0438, from $1.0412 in early trade, having bounced from $1.0387 offshore. Key support at $1.0340, the 200-day MA and 61.8 pct of the $1.0165/$1.0625 move with resistance at $1.0564, last week's high.
The NZ dollar firm around $0.8237 after an ...
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