Thursday, 16 May 2013 03:45
Posted by Imaduddin
SYDNEY/WELLINGTON: The Australian dollar was labouring against a firmer US dollar on Thursday as soft commodity prices weighed, while the New Zealand dollar bounced off two-month lows ahead of the annual government budget.NZ annual budget due at 0200GMT with expectations the government will lift its forecast of economic growth and budget surpluses from 2014/15.The Aussie struggling at $0.9896, having hit a fresh 11-month low of $0.9852 overnight. Charts show the recent sharp decline seen as ...
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SYDNEY/WELLINGTON: The Australian and New Zealand dollars regained ground on Tuesday as suspense grew over whether the US Federal Reserve chief would signal his intention to start tapering the bank's bond-buying programme.The Aussie dollar rose to $0.9828 by 0557 GMT, from $0.9793 earlier. It had already gained 0.8 percent on Monday, further recovering from a 11-month trough of $0.9711 set last week.It climbed as high as $0.9836, buoyed by a wave of short-covering on growing expectations Fed Chairman Ben Bernanke may maintain his super easy policy for a while during his testimony to Congress on Wednesday.Recent comments by other Fed officials have fuelled speculation the US central bank may start to reduce its bond purchases soon."Markets are looking forward to Bernanke's speech and they will be very disappointed if they are expecting a change in tune," said David Scutt, a trader at Arab Bank Australia, seeing a rally in Treasury, ...
SYDNEY/WELLINGTON: The Australian and New Zealand dollars were near multi-month lows on Friday after being battered by the clearest hint yet that the US Federal Reserve's loose money policies could start coming to an end late in the year.The Australian dollar lower at $0.9820 from $0.9900 late on Thursday, having touched a fresh 11-month low of $0.9796. It has fallen more than 5 percent so far this month.Little support seen before the June trough of ...
TORONTO: The Canadian dollar held steady against its US counterpart in quiet trading on Monday, finding support from US retail sales figures that signaled underlying strength in the economy.US retail sales in April rose unexpectedly, leading forecasters to bump up second-quarter growth estimates."Considering some of the other commodity currencies have been under so much pressure recently, the Canadian dollar is holding in quite well," said David Bradley, director of foreign exchange trading at Scotiabank, attributing ...
