05302016Mon
Last update: Mon, 30 May 2016 06am

Australia

Markets - FXMM - Australia

Australia, NZ dollars nurse losses as China weighs SYDNEY: The Australian and New Zealand dollars nursed losses on Wednesday as concerns about China and global growth sent investors to the safety of government bonds.The Australian dollar dipped to $0.7234 from $0.7273 early, having skidded 1.6 percent on Tuesday.Commodity currencies, including Brazil's real, took a blow overnight following a sharper-than-expected fall in Chinese imports. China is the world's largest importer of commodities."One of the reasons behind the weakness in the Australian dollar remains global growth concerns," said Elias Haddad, senior strategist at Commonwealth Bank of Australia, seeing the Aussie at 66 cents by the end of the year.A soft reading in Chinese inflation numbers on Wednesday only added to concerns about deflationary pressures. Support was found at $0.7190 and a break would target the 20-day moving average of $0.7130. Resistance was found at Monday's two-month peak of $0.7382. Also undermining the Aussie was a surprise increase in home loan ...

Markets - FXMM - Australia

Dollar stung by Fed minutes, commodity currencies outperform SYDNEY: The dollar started trade in Asia on Friday under a cloud, having come under renewed pressure after minutes of the Federal Reserve's September meeting reinforced doubts that the central bank will hike interest rates this year.The minutes revealed a deeply cautious central bank that delayed a long-anticipated tightening because policymakers wanted to make sure that a global economic slowdown would not threaten to derail a U.S. recovery."The minutes were viewed as mirroring the dovish ...

Markets - FXMM - Australia

Australian, NZ dollars underpinned by global equities rally SYDNEY/WELLINGTON: The Australian and New Zealand dollars were on a firmer footing on Thursday, as a sharp rebound in Asian stock markets and better than expected business spending plans in Australia encouraged buying.The Australian dollar rose to $0.7142, from $0.7110 early, pulling away from a 6-1/2-year trough touched on Monday. Resistance was found at $0.7155 where dealers cited stops. The Aussie regained some ground against the yen at 85.71, having dropped to a low of ...

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 ...

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 ...