06292016Wed
Last update: Wed, 29 Jun 2016 03am

Australia

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 Reserve Bank of Australia (RBA) which surprised some by recently dropping an explicit call for a lower currency The Aussie has shed around 10 percent this year and the RBA noted there was a 'reasonable chance' it would fall further once the Federal Reserve started to tighten monetary policy this year. Higher US rates would likely light a fire under the US dollar.In contrast, markets are wagering a steady rate outlook in Australia, pricing in ...

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 ...

Markets - FXMM - Australia

NZ Q1 jobless rate flat, wages contained  WELLINGTON: New Zealand's jobless rate was unchanged in the first quarter as the number of jobs created roughly matched the growth in thee workforce, while wage costs remained contained, backing views the central bank can hold rates for the forseeable future.The unemployment rate was steady at 5.8 percent, with about 16,000 jobs created, while the participation rate hit a record high of 69.4, according to official data on Wednesday.Statistics New Zealand said it had revised ...