Wednesday, 08 May 2013 02:37
Posted by Asad Naeem
TORONTO: The Canadian dollar closed at its strongest level versus its US counterpart since mid-February on Tuesday, rising with stock markets around the world in a risk rally fueled by signals that top central banks will keep supporting economic growth.The Canadian currency also gained sharply against its commodity-backed cousin in Australia after that country's central bank cut interest rates.Mark Chandler, head of Canadian fixed income and currency strategy at Royal Bank of Canada, said the Australian rate cut and the Canadian dollar's subsequent rally against the Aussie showed investors are more willing to bet on growth in Canada's biggest export market, the United States, than on a soft landing in Australia's biggest commodity customer, China."There is a bigger story developing this year," Chandler said."The nod went to Australia throughout much of the last few years," he said, referring to the Australian currency outperforming Canada's in that period, due in part ...
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TORONTO: The Canadian dollar closed at its strongest level versus its US counterpart since mid-February on Tuesday, rising with stock markets around the world in a risk rally fueled by signals that top central banks will keep supporting economic growth.The Canadian currency also gained sharply against its commodity-backed cousin in Australia after that country's central bank cut interest rates.Mark Chandler, head of Canadian fixed income and currency strategy at Royal Bank of Canada, said the Australian rate cut and the Canadian dollar's subsequent rally against the Aussie showed investors are more willing to bet on growth in Canada's biggest export market, the United States, than on a soft landing in Australia's biggest commodity customer, China."There is a bigger story developing this year," Chandler said."The nod went to Australia throughout much of the last few years," he said, referring to the Australian currency outperforming Canada's in that period, due in part ...
WELLINGTON/SYDNEY: The Australian dollar skidded to two-month lows on Tuesday after the Reserve Bank of Australia (RBA) cut interest rates to record lows and left the door open to yet more easing, sending bonds rallying sharply.The Aussie dropped over half a cent to as deep as $1.0178, its lowest since early March, piercing a triple bottom around $1.0220. It last fetched $1.0192, showing a loss of 0.7 percent on the day.Interbank futures rallied hard as ...
TORONTO: The Canadian dollar was marginally stronger against its US counterpart on Monday, tracking positive market sentiment following Friday's surprising US monthly jobs report.The benchmark S&P 500 index edged up to another record closing high on Wall Street, extending Friday's rally after US employment rose more than expected last month.The loonie strengthened after the release of Canadian building permits data, which surged past expectations in March, though the closely-watched residential, single family component was more ...
WELLINGTON/SYDNEY: The Australian and New Zealand made solid gains across the board on Tuesday as benign US and European inflation data pushed down bond yields and added to pressure for more easing by major central banks.The Aussie up around $1.0343 from Monday's late local level of $1.0325, touching a near two-week high of $1.0359 offshore. The currency has gained around 0.6 percent this month.Aussie support seen at $1.0310 with resistance at $1.0360 and the $1.0395/00 ...
WELLINGTON/SYDNEY: The Australian and New Zealand rose on Monday as a broadly weaker US dollar gave a boost to riskier assets, while the prospect of super easy monetary policies in Europe and United States benefited government bonds.The Aussie edged up to $1.0325, from $1.0287 early, while the kiwi rose 0.6 percent to a session high of $0.8529. Support was seen at $1.0250 and $1.0220, with resistance at $1.0320, ahead of $1.0350.Still, the Aussie was on ...
