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Dollar bulls bank on Fed losing its patience SYDNEY: The dollar stood steady in Asia on Wednesday just hours before the Federal Reserve was expected to take a major step toward lifting interest rates for the first time in almost nine years. A Fed statement is due at 1800 GMT, followed half an hour later by a press conference with Chair Janet Yellen. The central bank will also release members' forecasts for inflation and interest rates, and some analysts suspect the trajectory of future increases could be lowered.A string of strong payroll reports has left the strong impression the Fed will drop its reference to being patient on policy but still make a rate increase conditional on economic developments, in particular inflation. "Our baseline view is that the Fed can start its normalisation process around mid-year," said Tom Kenny, an analyst at Australia and New Zealand Bank. "That said, any further drift lower in core inflation could see ...

Australia, NZ dollars firmer on USD; stand tall vs sombre euro SYDNEY/WELLINGTON: The Australian and New Zealand dollars edged up on Friday as a shakeout in bullish US dollar positions gave the beleaguered Antipodeans some respite.The Australian dollar was at $0.7697, having jumped 1.4 percent on Thursday when disappointing US retail sales hurt the US dollar and triggered a wave of short covering. Resistance was found around $0.7735, then $0.7775."The greenback finally hit a bump and the long overdue consolidation may be upon us," said Stephen ...
NZ dollar rallies as RBNZ says economy strong, rates on hold for some time WELLINGTON: The New Zealand dollar jumped a full U.S. cent in volatile trade on Thursday, bouncing from a five-week low after the Reserve Bank of New Zealand said the domestic economy remained strong compared to other nations which have been forced into rate cuts.The kiwi surged to a high of $0.7309, rebounding from $0.7193, its lowest since early February hit in offshore trade, after the RBNZ kept its official interest rate unchanged at 3.5 percent ...
Embattled euro licks wounds in Asia, still vulnerable SYDNEY: The euro wallowed just above a fresh 12-year low early on Thursday having faced an unrelenting onslaught this week as the European Central Bank kicked off its 1 trillion euro bond-buying campaign.The program has already driven yields of many euro zone bonds deeper into negative territory and others to all-time lows. A 30-year German bond now offers a yield that is less than that of a two-year U.S. Treasury note.Unsurprisingly, investors kept well clear ...
Australia dollar perks up on fair value comment by RBA official SYDNEY/WELLINGTON: The Australian dollar pushed higher on Thursday after a top central banker remarked that the currency was now much closer to fair value than at any time in the past few years.Reserve Bank of Australia (RBA) Deputy Governor, Philip Lowe, also said low interest rates were proving less effective in spurring economic activity than in the past. The market reacted to his comments by driving the Aussie up to $0.7840, from a session low ...
Australia dollar jumps after RBA holds off on rate cut SYDNEY/WELLINGTON: The Australian dollar staged a broad rally on Tuesday as the market trimmed crowded bearish positions after the Reserve Bank of Australia (RBA) surprised some by not cutting interest rates at its monthly policy meeting.The Aussie jumped more than 50 pips to a session high of $0.7845. Oddly, it started to climb moments before the RBA announced the decision at 0330 GMT.Interbank futures fell sharply, with the March contract suffering the biggest blow. It ...
Aussie up, kiwi down in becalmed FX markets LONDON: The Australian and New Zealand dollars were the main movers among major currencies on Thursday, pushed in opposite directions by contrasting signals on the health of two struggling economies.Two days of testimony from US Federal Reserve chief Janet Yellen have done little to move on the debate over when US interest rates will rise, although if anything expectations have been prodded back to later in the second half of this year.The Aussie fell as ...

 



 
Index Closing Chg%
Arrow DJIA 17,683.58 0.26
Arrow Nasdaq 4,991.94 0.34
Arrow S&P 2,068.76 0.39
Arrow FTSE 6,535.68 0.76
Arrow DAX 10,890.63 1.52
Arrow CAC-40 4,711.54 2.01
Arrow Nikkei 20,112.12 2.08
Arrow H.Seng 25,236.28 3.18
Arrow Sensex 28,208.76 0.41





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln