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Australian dollar still high vs fundamentals SYDNEY: Despite the recent fall in the Australian dollar, it remains "higher than most conventional estimates of fundamentals would indicate," a senior Australian central banker said on Tuesday. That means the exchange rate is offering less assistance than it would normally be expected in achieving balanced growth in the economy, Reserve Bank of Australia Assistant Governor Guy Debelle told a Citi conference in Sydney. "A lower exchange rate would be helpful in achieving that objective," he said.The Australian dollar slumped 4.2 percent in September on a trade-weighted basis, suffering its biggest monthly fall in over a year. But the decline has only taken it back to levels seen early this year. "Over that same period, Australia's terms of trade has continued to decline and some key commodity prices for Australia, most notably the iron ore price, have declined considerably," Debelle noted. "On that basis, the Australian dollar is still higher ...

Australian & NZ dollers edge up in choppy trade SYDNEY: The Australian and New Zealand dollars rose in choppy trade on Tuesday, proving resilient to a sharp sell off in global equities which sent investors to safe-haven assets such as government debt.The Australian dollar edged up to $0.8787, from $0.8760 in early trade and adding to Monday's 1 percent gains.However, it spent most of the session in the red after a spike in volatility encouraged investors to unwind popular carry trades, where the market ...
Australian dollar hit by growth woes, yen buying; kiwi recovers slightly SYDNEY/WELLINGTON: The Australian dollar hovered near four-year lows on Monday as global growth concerns encouraged investors to unwind carry trades, while the New Zealand dollar remained vulnerable to further losses though it managed to stabilise somewhat. The Australian dollar edged down to $0.8670, from $0.8700 in New York on Friday, pulling close to a four-year trough of $0.8642 touched last week. A break there would open the way to a retracement to $0.8066, the May ...
Aussie climbs, brushing off weak Australian jobs reading WELLINGTON: The Australian dollar edged up on Thursday, boosted by broad selling in the US dollar and as investors ultimately shrugged off a weak reading of Australia's labour market after major revisions to the series cast doubt on the data's reliability. The Aussie rose 0.2 percent to $0.8857, bouncing back from an initial slide to $0.8791 after official figures showed the Australian economy lost a net 29,700 jobs in September, wrongfooting expectations for a 20,000 ...
Australian & NZ dollars slip, jobs data eyed SYDNEY/WELLINGTON: The Australian and New Zealand dollars drifted lower on Wednesday, trimming overnight gains in an absence of major economic data and as investors were reluctant to take aggressive positions a day ahead of key Australian employment figures. Both Antipodean currencies had squeezed higher overnight in a wave of short covering as a further drop in US Treasury yields weighed on the greenback. The Australian dollar last traded at $0.8793, down 0.3 percent on the ...
Yen rallies broadly as global growth woes sap risk appetite SYDNEY/TOKYO: The safe-haven yen stood tall on Wednesday, having risen broadly as risk appetite waned in the wake of a plunge in German industrial output and after the IMF cut its global economic growth forecasts for a third time this year. The dollar traded at 108.335 yen after sliding to a three-week low of 107.82 yen, further recoiling from a six-year high of 110.09 set a week ago.The euro dipped to its lowest in a ...
Australian & NZ dollars clamber off lows on short squeeze SYDNEY: The Australian dollar clawed its way off eight-month lows on Thursday after an attempt on the downside fizzled out and squeezed bearish bets, giving a fillip to the New Zealand dollar.The Aussie dollar rallied to $0.8798, from $0.8728 in early trade, helped by surprisingly strong 3 percent increase in Australian building approvals.The Aussie had already started a modest recovery overnight after the market was caught short trying to trigger stops below $0.8660, a major ...

 



 
Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
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Arrow Sensex 27,371.84 0.90






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln