05042016Wed
Last update: Wed, 04 May 2016 11am

Australia

Markets - FXMM - Australia

Australia dollar sunk by RBA rate cut, drags on NZ$ SYDNEY/WELLINGTON: The Australian dollar took a spill on Tuesday after the Reserve Bank of Australia (RBA) surprised some by cutting its cash rate to a record low, dragging the New Zealand dollar lower in turn. The Australian dollar skidded 1.4 percent to $0.7561 on the day. A break of $0.7548 would target the April low of $0.7490.The Aussie dropped to its lowest in two months against the yen, euro and pound , while it touched a six-month trough versus its Canadian peer.The RBA cut its cash rate by a quarter-point to a record low of 1.75 percent at its monthly policy meeting, the first easing in a year as it seeks to insulate the economy from creeping deflation.The market had been evenly split on whether it would ease in the wake of surprisingly low inflation, while the majority of economists had forecast rates on hold."The main trigger here was the ...

Markets - FXMM - Australia

Aussie plunges, Fed eyed for dollar direction LONDON: Australia's dollar plunged by almost 2 percent on Wednesday after data showed consumer prices fell unexpectedly in the first quarter, but most currencies traded in narrow ranges before a U.S. Federal Reserve policy decision later in the day.The dollar edged down 0.2 percent against a basket of major currencies, with traders expecting the Fed to be wary of sending too strong a message on imminent policy tightening, particularly after another batch of disappointing data.The ...

Markets - FXMM - Australia

Euro wobbles as ECB looms, gives dollar a break SYDNEY: The euro remained on the defensive early on Thursday, having made an about-face as investors adjusted positions in the lead up to a policy meeting by the European Central Bank. The ECB is widely expected to hold interest rates unchanged at record lows, but President Mario Draghi is likely to drive home the case for ultra-loose monetary policy."The task now for the ECB lies more along the lines of promoting the effectiveness of these ...

Markets - FXMM - Australia

Australia, NZ dollars carried by yield play SYDNEY/WELLINGTON: The Australian and New Zealand dollars stood near 10-month peaks on Wednesday after fading concerns about global growth and rising metal prices sparked demand for carry trades. The Australian dollar took a breather at $0.7785 after investors opted to book profits, having flown to $0.7827 on Tuesday, a high not seen since June. It has climbed two cents in three sessions with the next major resistance found at $0.7849. A break of this would ...

Markets - FXMM - Australia

Australia dollar derailed by oil rout, NZ dollar consoled by inflation SYDNEY/WELLINGTON: The Australian dollar skidded on Monday after a meeting of oil exporters hoping to freeze oil output collapsed, while its New Zealand counterpart offset losses as higher-than-expected inflation data pushed back anticipated rate cuts. The Australian dollar skidded around 1 percent in the session to $0.7655, from a near 10-month peak of $0.7735 touched on Friday. Charts suggest the Aussie is due for a deeper correction following recent failed attempts to hold sustainably above ...

Markets - FXMM - Australia

Australia, NZ dollars near 10 month peaks on China, commodities SYDNEY/WELLINGTON: The Australian and New Zealand dollars flirted with 10-month peaks on Wednesday, after upbeat Chinese export data and a rally in commodity prices underpinned appetite for risk assets. The Australian dollar stood at $0.7710, having powered up 1.1 percent on Tuesday and nearing the 2016 peak of $0.7723 set a few weeks ago. "The Aussie dollar has been on fire overnight with traders taking cues from firming global equities and commodities prices," said Stephen ...

Markets - FXMM - Australia

Yen rally tempered, oil price jump inspires commodity currencies SYDNEY/TOKYO: The safe-haven Japanese yen slid from recent peaks against the greenback on Wednesday as solid gains in oil prices helped underpin risk appetite.With hopes of a production cap agreed by top producers Russia and Saudi Arabia back in play, global oil prices climbed to four-month highs overnight. "The dollar gained along with the Australian dollar as risk appetite improved in the broader financial markets. What was eye-catching was that the dollar rose without support ...