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Australia dollar pressured on heightened rate-cut chatter SYDNEY/WELLINGTON: The Australian and New Zealand dollars hovered near multi-year lows on Monday on heightened speculation the Reserve Bank of Australia will cut rates to record lows this week to spur economic growth. The Australian dollar was hemmed in at $0.7784, not far from a six-year trough of $0.7720 set last week. Major support was found at $0.7720-30, an area which was tested three times in as many sessions.The Aussie remained vulnerable as speculators increased large short positions in the local currency, according to data from the Commodity Futures Trading Commission.Not helping was a private gauge of Australian inflation at a two-and-a-half year low in January, pointing to scope for a cut in interest rates.The central bank holds its first policy meeting of the year on Tuesday and markets are betting heavily that the cash rate will be cut.Interbank futures <0#YIB:> imply a 62 percent probability of a move to ...

Euro floored as SNB decision puts spotlight on ECB, franc surges SYDNEY: The euro hovered above an 11-year trough early on Friday as investors wagered the Swiss move to abandon its currency cap meant it was almost certain the European Central Bank would launch large-scale bond buying next week.The euro suffered its biggest one-day drop against the Swiss franc in history after the Swiss National Bank (SNB) stunned markets by suddenly abandoning its long-held pledge to keep the franc above 1.20 per euro. After falling 30 ...
Australian dollar falls, hits 2 months low vs yen as copper slide spooks market SYDNEY/WELLINGTON: The Australian dollar sagged to its lowest in over two months against the yen on Wednesday as a sudden dive in copper prices spooked a market already worried about persistent weakness in oil. After a fairly steady start, the commodity-sensitive Aussie turned tail as a wave of stop-loss selling pushed London copper to a 5-1/2-year low. The industrial metal is often considered a barometer of global demand.The Aussie shed 1.1 percent against the safe-haven ...
Australia & NZ dollars resilient, China trade supports SYDNEY/WELLINGTON: Upbeat Chinese trade figures supported the Australian and New Zealand dollars on Tuesday, offsetting weaker sentiment from an overnight slide in oil and commodity prices. The Australian dollar edged up to $0.8185, from an early $0.8127 low but remained short of a one-month peak of $0.8254 hit on Monday. Hourly resistance was found at $0.8205 with support at the 20-day moving average of $0.8136.The Aussie touched a six-year trough of $0.8033 last week, hit ...
Dollar slips with yields, oil still dropping SYDNEY: The US dollar took a dip on Monday as Asian investors caught up with a benign payrolls report and the subsequent slide in Treasury yields, though turnover was light with Tokyo on holiday. Share markets were mixed following a soft finish on Wall Street though sentiment was supported by speculation the Federal Reserve would be patient in tightening policy given the weakness of wages apparent in the jobs numbers.Wages fell by the most since ...
Australian & NZ dollars regain poise as euro, pound pressured SYDNEY/WELLINGTON: The Australian and New Zealand dollars regained further ground on Monday courtesy of a broadly weaker US counterpart and expectations the European Central Bank will soon be forced to take bold stimulus measures. The Australian dollar climbed to $0.8231, building on gains made late last week when investors sold the US dollar across the board on the back of the fall in US wages even as payrolls increased by a brisk 252,000. The Aussie ...
Oil price plunge could help RBA weaken Australian dollar further SYDNEY: The plunge in global oil prices could give Australia's central bank leeway to reduce interest rates with the aim of pushing the Australian dollar down to levels the bank would like to see. The Reserve Bank of Australia has long wanted a lower exchange rate to help the economy adjust to rapidly fading mining investment and to relieve the pain of hefty price falls for its main export, iron ore. The Aussie dollar fell ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln