07262016Tue
Last update: Tue, 26 Jul 2016 03am

Australia

Markets - FXMM - Australia

Australia, NZ dollars run into stiff resistance, Fed speculation SYDNEY/WELLINGTON: The Australian and New Zealand dollars fell on Wednesday as a bounce from recent lows was stymied by heavy chart resistance and speculation U.S. interest rates could rise as early as June.The Australian dollar slipped to $0.7293, from $0.7326 early on and a peak of $0.7368 touched on Wednesday. It met a wall of resistance near $0.7380-$0.7410, having failed five times this month to make a sustained breakthrough that range.It was unable to hold gains made on Tuesday when minutes of the May meeting of the Reserve Bank of Australia (RBA) wrong-footed some investors, prompting the market to trim the chance of an interest rate cut.Interbank futures are pricing a 26 percent chance of a cut in July, from 36 percent on Tuesday, though they are still fully priced for a move by the end of the year.Also undermining the Aussie was rising expectations the U.S. Federal Reserve (Fed) ...

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 ...

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 ...