05012016Sun
Last update: Sun, 01 May 2016 01pm

Australia

Markets - FXMM - Australia

Australian, NZ dollars capped by Chinese market turmoil SYDNEY/WELLINGTON: The Australian and New Zealand dollars were held hostage on Wednesday to developments in China in another choppy trading session, with sentiment remaining brittle amid concerns over the Asian giant's economy.The Australian dollar was down 0.1 percent at $0.7132, having swung between positive and negative territory. It received a modest boost after data showing domestic construction work rose 1.6 percent in the second quarter, handily beating forecasts of a 1.5 percent fall."The positive is that the construction sector, which accounts for around 15 percent of the economy, will add to growth in the June quarter," said Andrew Hanlan, a senior economist at Westpac.Australia's second-quarter gross domestic product data is due next week. However, the focus quickly returned to the Chinese share markets' reaction to the latest stimulus. The People's Bank of China cut interest rates and lowered the amount of reserves banks must hold for the second time in ...

Markets - FXMM - Australia

Australia, NZ dollars seen lower again on rate outlook SYDNEY: Analysts have again cut their forecasts for the Australian and New Zealand dollars to reflect the diverging outlook on interest rates between the Antipodean nations and the United States. A Reuters poll of 50 analysts found the Aussie was seen falling to $0.7100 on a 12-month horizon, compared with July's forecast of $0.7300.It touched a six-year low of $0.7234 last week to currently stand at $0.7366, a level that seems better suited for the ...

Markets - FXMM - Australia

NZ dollar jumps after RBNZ cuts rates, softens FX stance WELLINGTON: The New Zealand dollar jumped to a one-week high on Thursday after the Reserve Bank of New Zealand delivered a smaller interest rate cut than some in the market expected and softened its rhetoric on the kiwi following its recent, dramatic fall. The kiwi climbed half a US cent to $0.6654, its highest since July 15, after the central bank cut its Official Cash Rate by 25 basis points to 3.0 percent in response ...

Markets - FXMM - Australia

Australia, NZ dollars subdued after week of contrasting fortunes SYDNEY: The Australian and New Zealand dollars were subdued on Friday after a week that saw the Aussie rally as chances for a interest rate cut receded, while the kiwi was set for an eighth week of decline as New Zealand's central bank began an easing cycle.The Aussie was steady at $0.7748, not far off a peak of $0.7793 set on Thursday after a surprisingly strong employment report made another interest rate cut unlikely. On ...

Markets - FXMM - Australia

NZ dollar edges up after Fonterra milk payout announcement WELLINGTON: The New Zealand dollar rose on Thursday after dairy co-operative Fonterra forecast a slight improvement in global milk prices in the coming year. The kiwi rose to around $0.7260 after the world's biggest dairy exporter announced an initial farmgate payout forecast of NZ$5.25 ($3.81) per kilogram milk solids, compared with this year's NZ$4.50. The kiwi recovered from an initial dip to around $0.7220 after the announcement. Copyright Reuters, 2015 ...

Markets - FXMM - Australia

Australia, NZ dollars at multi-week lows on Fed hike risk SYDNEY/WELLINGTON: The Australian and New Zealand dollars fell to multi-week lows on Wednesday as the US dollar got a lift from growing expectations of an interest rate hike later this year.The Australian dollar eased to its weakest in a month at $0.7726, after major support at around $0.7775 gave way. It slumped 1.2 percent on Tuesday, and now has lost more than four cents since mid-May. It last traded at $0.7742.Upbeat US economic data gave ...

Markets - FXMM - Australia

Australian and NZ dollars rise on euro, lag on USD SYDNEY/WELLINGTON: The Australian and New Zealand dollars extended gains versus the euro as more easing by the European Central Bank and the ongoing Greek debt crisis dented appetite for the common currency.They had less luck against a firm US dollar with the Aussie sluggish at $0.7826, not far from a three-week low of $0.7804 set on Monday. Support was found at a major retracement level of $0.7775.It has shed more than 3 cents since it ...