02132016Sat
Last update: Sat, 13 Feb 2016 01pm

Australia

Markets - FXMM - Australia

Australia underscores urgency of Asian rate cuts SINGAPORE: The Reserve Bank's quarter-point cut, which traders dismissed as a remote possibility just days ago, shows how vital monetary easing has become across the region. From Sydney to Singapore to Seoul, policymakers risk falling behind the curve and hurting investment and growth.The Reserve Bank of Australia cut its 2.5 percent official cash rate by a quarter percentage point on Feb. 3. "The economy is likely to be operating with a degree of spare capacity for some time yet.Futures market prices suggested a 22 percent probability of a rate cut as recently as Jan. 21. The probability of the rate being reduced rose to 63 percent on Feb. 2.The Monetary Authority of Singapore, which uses the local currency's exchange rate to guide financial conditions in the city-state, unexpectedly eased monetary policy on Jan. 28, ahead of its scheduled review in April.India reduced its benchmark repo, or repurchase, rate by a ...

Markets - FXMM - Australia

Australian dollar skids to 6-year low after RBA cuts rates TOKYO/SYDNEY: The Australian dollar skidded more than one US cent to a six-year low on Tuesday and plunged more than two percent against the yen after the Reserve Bank of Australia slashed interest rates to a record low.The Aussie's drop against the yen gave the US currency a cross-trading lift against the dollar, which shed about 0.5 percent to 117.03 yen.Australia's central bank cut its cash rate a quarter point to 2.25 percent at its ...

Markets - FXMM - Australia

Australia dollar pressured on heightened rate-cut chatter SYDNEY/WELLINGTON: The Australian and New Zealand dollars hovered near multi-year lows on Monday on heightened speculation the Reserve Bank of Australia will cut rates to record lows this week to spur economic growth. The Australian dollar was hemmed in at $0.7784, not far from a six-year trough of $0.7720 set last week. Major support was found at $0.7720-30, an area which was tested three times in as many sessions.The Aussie remained vulnerable as speculators increased ...

Markets - FXMM - Australia

Euro floored as SNB decision puts spotlight on ECB, franc surges SYDNEY: The euro hovered above an 11-year trough early on Friday as investors wagered the Swiss move to abandon its currency cap meant it was almost certain the European Central Bank would launch large-scale bond buying next week.The euro suffered its biggest one-day drop against the Swiss franc in history after the Swiss National Bank (SNB) stunned markets by suddenly abandoning its long-held pledge to keep the franc above 1.20 per euro. After falling 30 ...

Markets - FXMM - Australia

Australian dollar falls, hits 2 months low vs yen as copper slide spooks market SYDNEY/WELLINGTON: The Australian dollar sagged to its lowest in over two months against the yen on Wednesday as a sudden dive in copper prices spooked a market already worried about persistent weakness in oil. After a fairly steady start, the commodity-sensitive Aussie turned tail as a wave of stop-loss selling pushed London copper to a 5-1/2-year low. The industrial metal is often considered a barometer of global demand.The Aussie shed 1.1 percent against the safe-haven ...

Markets - FXMM - Australia

Australia & NZ dollars resilient, China trade supports SYDNEY/WELLINGTON: Upbeat Chinese trade figures supported the Australian and New Zealand dollars on Tuesday, offsetting weaker sentiment from an overnight slide in oil and commodity prices. The Australian dollar edged up to $0.8185, from an early $0.8127 low but remained short of a one-month peak of $0.8254 hit on Monday. Hourly resistance was found at $0.8205 with support at the 20-day moving average of $0.8136.The Aussie touched a six-year trough of $0.8033 last week, hit ...

Markets - FXMM - Australia

Dollar slips with yields, oil still dropping SYDNEY: The US dollar took a dip on Monday as Asian investors caught up with a benign payrolls report and the subsequent slide in Treasury yields, though turnover was light with Tokyo on holiday. Share markets were mixed following a soft finish on Wall Street though sentiment was supported by speculation the Federal Reserve would be patient in tightening policy given the weakness of wages apparent in the jobs numbers.Wages fell by the most since ...