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Australian dollar supported by business survey, vulnerable to China & EM risks SYDNEY/WELLINGTON: The Australian dollar nudged up on Tuesday after an upbeat survey on local business conditions squeezed Aussie bears, while the New Zealand dollars bounced from a three-week low. The Aussie found a firmer footing at $0.8764, from $0.8757 in early trade, after a private measure of Australian business conditions surprisingly jumped to its highest in more than 2-1/2 years in December. "It injected new life in the Aussie. The reading was quite encouraging," said Sean Callow, a senior currency strategist at Westpac Bank. The survey outcome was enough to trigger a classic squeeze on short positions which had been building up on concerns about economic health in China and emerging markets. The market often uses the Aussie as a liquid proxy to hedge against weakness, or wager on strength, in Asia. The Australian dollar dropped as far as $0.8660 on Friday, the lowest since mid-2010. Callow said near-term risks ...

Australian dollar hits 3.5-year low on comments by RBA board member SYDNEY/WELLINGTON: The Australian dollar fell to a fresh 3-1/2-year low on its US counterpart on Friday after Reserve Bank of Australia board member Heather Ridout was reported as saying the currency had not fallen enough. Ridout was also reported as saying the Aussie dollar at 80 US cents would be a "fair deal" for the economy. Ridout is a non-executive member of the RBA board and does not speak for the central bank on foreign ...
Australian dollar jumps as inflation deflates risk of rate cut SYDNEY/WELLINGTON: The Australian dollar surged three-quarters of a US cent on Wednesday after an unexpectedly sharp rise in inflation forced investors to greatly scale back wagers on another cut in interest rates. The Aussie shot up to $0.8870, from $0.8790, as the high inflation reading badly wrong-footed speculators who had been short of the currency in the wake of soft jobs numbers last week. Dealers said stops above $0.8850 were tripped, allowing the Aussie to ...
Australia dollar pinned near lows vs USD SYDNEY/WELLINGTON: The Australian dollar hovered near 3-1/2-year lows against its US counterpart on Monday, with further pressure heaped on the currency by a surging yen. The Aussie slipped to a low of $0.8756, the weakest since July 2010, from $0.8775 in early trade. It was last at $0.8800.A batch of data out of China, Australia's single biggest export market, offered some consolation after GDP data came in a touch above forecasts. The economy of Asia's ...
Dollar back in form as payrolls hangover lifts SYDNEY: The U.S. dollar traded at a near one-week high against a basket of major currencies early on Thursday, having returned to levels seen before last week's soft payrolls data as faith in the U.S. economic recovery was restored.Upbeat numbers this week held out hope that Friday's surprisingly soft jobs report was an anomaly and did not signal the economy had lost steam at the end of last year.U.S. data on Wednesday showed producer prices ...
Yen resumes slide, Aussie also feeling the heat SYDNEY: The yen and Australian dollar nursed heavy losses early on Wednesday, having suffered a swift turnaround in fortunes after upbeat retail sales data halted a slide in US yields to help the US dollar recover from a one-month low touched on Monday. Traders said the retail numbers helped offset Friday's disappointingly soft payrolls and halted a two-day slide in US Treasury yields.That in turn gave the greenback a shot in the arm. The dollar ...
Australian and NZ dollars pinned down, upbeat data no help SYDNEY/WELLINGTON: The Australian and New Zealand dollars struggled for traction on Thursday after data in China and at home failed to excite the market ahead of key offshore events in Europe and the United States. The Aussie was down at $0.8879, after speculative sellers took out stop-loss offers under $0.8880. "The market is containing the Aussie at the moment and the topside is fairly limited," said a trader at a European bank in Singapore. He ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln