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Australian & NZ dollars feel the Fed pinch SYDNEY/WELLINGTON: The Australian and New Zealand dollars nursed deep losses on Thursday after the Federal Reserve showed enough confidence in the US economy to stay on track to raise interest rates next year, giving the US dollar a fillip. The kiwi slipped to a one-week low of $0.7690 in volatile trade, brushing off domestic data showing stronger-than-expected quarterly economic growth. "The data doesn't change our forecast for the first Reserve Bank of New Zealand (RBNZ) rate hike to come in December 2015, that's a long time away," said Tim Kelleher, head of institutional FX sales at ASB bank. "And in the meantime you're going to see Fed rate hikes as early as April theoretically, so the bullish US dollar trend will continue." Closing out a two-day meeting, the US central bank said it would take a "patient" approach towards raising rates. Kelleher added that the kiwi would suffer more if ...

Australia & NZ dollars pinned down by China, yen rally SYDNEY/WELLINGTON: The Australian dollar fell to 4-1/2-year lows on Tuesday, while the New Zealand dollar struggled as growth concerns in China and plunging oil prices encouraged investors to buy the safe haven yen. The Australian dollar was at $0.8222, having touched $0.8200, its weakest since mid-2010 and an area packed with option barriers. A clear break would target the 2010 low of $0.8066. It got cold-shouldered after China's factory activity slowed more than expected last ...
Australia dollar battered by oil dip, hostage incident, NZ dollar softer SYDNEY/WELLINGTON: The Australian dollar dropped to 4-1/2-year lows on Monday on falling commodity prices and concerns about global growth, while a hostage incident in Sydney further undermined sentiment. The Australian dollar slipped to $0.8214, from $0.8244 in early trade. It plumbed $0.8204, the lowest since mid-2010, as Brent crude futures fell to a new five-year low near $60 a barrel. Selling against the yen also pressured the Aussie which dropped to a six-week trough of ...
Australia dollar on defensive after RBA boss speaks, NZ dollar holds gains SYDNEY/WELLINGTON: The Australian dollar struggled to stabilise on Friday after the Reserve Bank of Australia (RBA) chief said the currency should be much lower, putting it on track for a fourth week of losses. In contrast, the New Zealand dollar was on track to show its first weekly gain in a month. The Australian dollar eased to $0.8250, not far from a fresh 4-1/2-year trough of $0.8214 set overnight. The Aussie has lost 3 percent ...
Australian dollar edges up after mixed jobs report SYDNEY: The Australian dollar nudged up on Thursday after a better-than-expected job report. The Aussie jumped to a week high of $0.8378, before paring back to $0.8367, still up 0.6 percent on the day. The Aussie has touched a four-year low of $0.8223 earlier in the week. Copyright Reuters, 2014 ...
NZ dollar rallies after RBNZ, drags Australian dollar up SYDNEY/WELLINGTON: The Australian and New Zealand dollars regained some ground on Thursday after the Reserve Bank of New Zealand sounded less dovish than some had wagered on, while the US dollar suffered a shakeout of long positions. The kiwi surged nearly 2 percent to $0.7850 after the Reserve Bank of New Zealand (RBNZ) said "some further increase in the cash rate is expected to be required at a later stage" to return rates to a ...
Dollar drop eases pressure on metals SYDNEY: Metals edged higher on Thursday as the dollar weakened against an index of currencies on year-end positioning and partly due to risk-aversion triggered by steep losses in oil. "All these extreme moves in the oil markets have repercussions on sentiment in other asset classes. But generally metals have held up extremely well," said analyst Mark Keenan of Societe Generale in Singapore."A lot of that is because metals discounted the Chinese slowdown quite early on ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln