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Australia dollar perks up on fair value comment by RBA official SYDNEY/WELLINGTON: The Australian dollar pushed higher on Thursday after a top central banker remarked that the currency was now much closer to fair value than at any time in the past few years.Reserve Bank of Australia (RBA) Deputy Governor, Philip Lowe, also said low interest rates were proving less effective in spurring economic activity than in the past. The market reacted to his comments by driving the Aussie up to $0.7840, from a session low of $0.7804. Much of the gains have since evaporated, leaving the Aussie just a touch firmer on the day at $0.7825. It remained stuck in a slim range held since reaching a six-year trough of $0.7627 a month ago. Asked where he thought fair value for the Australian dollar was, Lowe said: "We're much, much closer to it than we were at any time over the past couple of years.Against the US dollar, we've come ...

Australia dollar jumps after RBA holds off on rate cut SYDNEY/WELLINGTON: The Australian dollar staged a broad rally on Tuesday as the market trimmed crowded bearish positions after the Reserve Bank of Australia (RBA) surprised some by not cutting interest rates at its monthly policy meeting.The Aussie jumped more than 50 pips to a session high of $0.7845. Oddly, it started to climb moments before the RBA announced the decision at 0330 GMT.Interbank futures fell sharply, with the March contract suffering the biggest blow. It ...
Aussie up, kiwi down in becalmed FX markets LONDON: The Australian and New Zealand dollars were the main movers among major currencies on Thursday, pushed in opposite directions by contrasting signals on the health of two struggling economies.Two days of testimony from US Federal Reserve chief Janet Yellen have done little to move on the debate over when US interest rates will rise, although if anything expectations have been prodded back to later in the second half of this year.The Aussie fell as ...
Australian dollar steady but remain vulnerable, New Zealand dollar pauses SYDNEY/WELLINGTON: The Australian and New Zealand dollars were on a steadier footing on Monday, but the antipodean currencies remained vulnerable to domestic factors including from monetary policy and a raft of economic data.The Australian dollar rose to $0.7834, from Friday's low of $0.7789, inching closer to key chart resistance around $0.7840 and $0.7875.The Aussie hovered near a one-month high against the yen at 93.25, having gained 0.7 percent on Friday.The Aussie, however, remains vulnerable to ...
Australia, NZ dollars firm after Fed disappoints hawks SYDNEY/WELLINGTON: The Australian and New Zealand dollars were on a firm footing on Thursday after minutes of the Federal Bank policy meeting were seen as dovish, hurting the US dollar and boosting bond prices.The Australian dollar was at $0.7810, having briefly popped to $0.7840 when the market pushed out the timing of rate hikes in the United States.Short-term Treasury yields boasted the biggest daily drop since mid-2011 after the minutes showed "many" Fed policy makers ...
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 ...
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 ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln