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Australian dollar climbs to 7 month peak vs euro in yield search SYDNEY/WELLINGTON: The Australian dollar climbed to seven-month peaks against a soggy euro and Swiss franc on Wednesday, as investors continued their love affair with carry trades, giving it solid support versus its US counterpart. The euro fell to A$1.4431, its weakest level since November, having pierced key support at A$1.4500. It dipped to a one-month low of NZ$1.5819 against the New Zealand dollar. It has shed more than 4 cents against the Aussie in two weeks, and is down around 6 percent this year. The latest blow came after the European Central Bank (ECB) cut interest rates to record lows, encouraging investors to enter carry trades, where they borrow at a low rate in euros to buy higher yielding assets such as the Aussie and kiwi. Technicals suggest the next major support at A$1.4215, the 38.2 percent retracement of the 2012-2014 rally. The Aussie rose to a seven-month high against ...

Euro under fire in Asia, stocks sit on gains SYDNEY: The euro came under mounting pressure on Wednesday as the European Central Bank's embrace of negative interest rates encouraged flows out of the zone, while Asian shares consolidated near recent highs. The single currency was slipping across the board as investors looked to borrow euros at super-low rates and buy higher-yielding assets abroad, the so-called carry trade. In contrast the dollar found support in a run of improving US economic data which pushed up ...
Australia dollar hits 6-month highs vs euro & Swiss franc, NZ dollar firm SYDNEY/WELLINGTON: The Australian dollar held near six-month highs against the euro and Swiss franc on Tuesday as yield-hungry investors piled into carry trades, giving it a fillip against the US dollar. The New Zealand dollar consolidated gains ahead of an expected hike in interest rates later in the week. The euro slipped to A$1.4521, having gone as far as A$1.4508 where it met strong support. A break below A$1.4501, a low touched last week, would ...
New Zealand and Australian dollars nudge higher, eye data WELLINGTON: The New Zealand and Australian dollars traded a touch firmer in holiday dampened markets on Monday as investors moved on from last week's offshore induced activity and looked towards looming local data releases. The Antipodeans had been buffeted first by the US jobs numbers, which saw them appreciate, and then been weighed down by soft Chinese trade data released at the weekend. The Aussie was at $0.9353, in sight of Friday's three-week high of ...
Australian & NZ dollars sidelined as ECB holds centre stage SYDNEY/WELLINGTON: The New Zealand dollar dangled near three-month lows on Thursday and the Aussie struggled to make headway as investors waited to see how bold, or not, the European Central Bank might be in tackling the threat of deflation. The New Zealand dollar found a tentative footing at $0.8434, clawing back from a three-month low of $0.8401 set Wednesday. The kiwi has come under pressure in recent weeks amid a steady decline in prices for ...
Dollar near 4-month high as data lifts sentiment, euro wary of ECB SYDNEY/TOKYO: The dollar hovered near a four-month high against a basket of major currencies early on Tuesday, bolstered by upbeat U.S. data and taking advantage of a euro that is still in the doldrums ahead of a much-anticipated European Central Bank meeting later this week.Trading was choppy overnight, reflecting some confusion after the U.S. Institute for Supply Management corrected its manufacturing activity index for May to 55.4, from a below-consensus reading of 53.2. The ISM ...
A$ & NZ$ edge up after no surprises by RBA SYDNEY/WELLINGTON: The Australian dollar inched up on Tuesday after the Reserve Bank of Australia (RBA) said the currency was high historically, but refrained from trying to talk it down as some market watchers had speculated.The Aussie rose to $0.9270, from $0.9244 in early trade, pulling closer to a high of $0.9321 set on Monday. It was, however, still stuck in a familiar $0.9203-$0.9410 band, a range it has been unable to escape since late March.As ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln