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Australian & NZ dollars jump on sterling, bonds underpinned WELLINGTON/SYDNEY: The Australian and New Zealand dollars held on to hefty gains against sterling on Thursday after enjoying their biggest one-day rally in six months after the Bank of England surprised markets by signalling it was in no rush to hike rates.The British central bank caused a ruckus by slashing its forecast for wage growth and saying higher rates hinged largely on an improved outlook for pay.Sterling was at A$1.7941, having slumped more than 1 percent Wednesday to a two-month low of A$1.7920. Against the New Zealand dollar, it fell to a three-week trough of NZ$1.9653 to be last at NZ$1.9698.There was less action elsewhere, with the Aussie idling at $0.8296, having peaked at $0.9320 overnight where it met heavy resistance. It has been unable to sustain a break above $0.9300 since last week's shock jump in Australia's unemployment rate.Also weighing on the Aussie is a weakness in commodities with ...

Pound hits 4-month low after BoE's dovish shift, euro eyes GDP SYDNEY/SINGAPORE: Sterling set a fresh four-month low on Thursday, staying on the defensive after the Bank of England surprised investors the previous day by signalling it was in no hurry to raise interest rates.The pound touched a low of $1.6668, its lowest level since mid-April, and down 3 percent from a near six-year high of $1.7192 touched in mid-July. It last traded at $1.6680, down about 0.1 percent on the day.Wrong-footing the market again, Governor ...

Won leads Asia FX gains despite South Korea central bank rate cut SINGAPORE: The won hit a two-week high on Thursday, leading gains among emerging Asian currencies, as a widely expected interest rate cut by South Korea's central bank caused investors to cover short positions.Regional units broadly rose on expectations of continuous monetary policy stimulus from major central banks. The Philippine peso, the Malaysian ringgit and the Thai baht advanced on demand from offshore funds.The won started the local trade weaker amid caution ahead of the central ...

Dollar-euro flat ahead of eurozone second-quarter data NEW YORK: The dollar was flat against the euro Wednesday ahead of expected poor growth numbers from the eurozone, while the yen slipped on news the Japanese economy contracted 1.7 percent last quarter.The dollar spiked lower early in US trade after the Commerce Department's report that retail sales stagnated in July, when economists had expected a pickup.But the greenback quickly recovered to end the day virtually unchanged, with support for the euro dampened by more ...

Pound hits 10-week low vs dollar after BoE slashes wages forecast LONDON: Sterling fell to a 10-week low against the dollar on Wednesday after the Bank of England slashed its forecast for wages growth in half and said earnings would help determine the timing and pace of interest rate rises.The new forecast, outlined in the bank's inflation report, prompted markets to push back expectations of when rates will rise. Sterling overnight interbank average rates were pricing in the chance of a February hike, compared with a ...

Indian rupee falls on IIP, CPI disappointment MUMBAI: The Indian rupee fell on Wednesday after higher-than-expected consumer inflation and dull June industrial output hit sentiment. Emerging market currencies were also subdued due to weaker retail sales data from China.Broader losses were, however, capped as domestic shares managed to edge higher in late trade on the back of brighter corporate results.Fund flows are expected to be key for the rupee going forward, especially in a fluctuating global risk aversion scenario.Foreign investors have sold ...

C$ little changed as traders await corrected jobs data TORONTO: The Canadian dollar was little changed on Wednesday against its US counterpart, as traders tread cautiously following news from the country's statistical agency that it would be restating July's employment report.The currency had strengthened briefly after an unexpectedly flat US retail sales report indicated a moderation in consumer spending early in the current quarter and pressured the US dollar.In Canada, data showed that home prices rose in July and the pace of 12-month home ...


Index Closing Chg%
Arrow DJIA 16,979.13 0.35
Arrow Nasdaq 4,526.48 0.02
Arrow S&P 1,986.51 0.25
Arrow FTSE 6,755.48 0.35
Arrow DAX 9,314.57 0.21
Arrow CAC-40 4,240.79 0.32
Arrow Nikkei 15,454.45 0.03
Arrow H.Seng 25,159.76 0.15
Arrow Sensex 26,314.29 0.40

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln