Forex News
New Zealand: RBNZ cash rate decision: No surprises with rates on hold
The RBNZ kept the cash rate unchanged at 2.5%. The RBNZ continued to keep rates steady at a record low of 2.5% (Barclays & consensus:2.5%). The cash rate has been at 2.5% since March 2011.
Asia today: Oz CPI weaker but no real guarantee of lower rates
Trade data was the early focus during today’s Asian session, with both New Zealand and Japan reporting numbers for June. Australia’s all-important Q2 CPI data followed shortly after.
Asia today: Flash China PMI improves; Risk rebound unconvincing
The major event for Asia today was the release of the China HSBC flash PMI reading for July. The PMI improved to 49.5 from 48.2, the first improvement seen in 3 months and the highest reading since February (49.6).
Asia today: Greece is (again) the word; Spain a very close second
There were further damaging press headlines for the Eurozone over the weekend so the EUR started this week off on an even weaker note.
Asia today: Asia stays calm after the post-Bernanke volatility
There was relative calm in the currency markets during the Asian session following the volatile gyrations seen overnight post-Bernanke.
Asia today: A mild hawk bias to RBA minutes; Bernanke up next
Reserve Bank of Australia minutes were the highlight of a slightly busier Asian session today. The RBA kept rates unchanged at 3.5 percent at the last meeting and the minutes showed members felt there was no need for further adjustment after recent “hefty cuts” and signs the economy has more momentum than previously thought.
Asia today: Bernanke QE hopes lift risk appetite (for now)
A Tokyo holiday ensured a quiet Asian session with risk currencies locked at slightly higher levels after the strong rebound seen towards the close on Friday.
Euro posts new lows, but no conviction
Developments were rather few and far between today after another dubious set of data were released from China. Euro touched a new local low vs. the USD, JPY and GBP but there was no conviction in the move.
Asia today: China Q2 growth slides to 3-year low; muted reaction
The Asian week finished with a bang as China’s Q2 GDP numbers came in slightly below expectations, though not enough to cause too much of a stir.
Market throws a tantrum on positive US jobless claims
A very positive weekly US jobless claims number (or was it?) sees risk off and the USD rallying as it frustrates this QE-seeking market. The USD rally is very much back on track.
Asia today: Aus employment hits the skids; BOJ eases further
AUD and JPY both fell against USD in the Asian session Thursday after surprises from their respective economies. In Australia’s case it was a large miss on employment figures, while for Japan it was an increase to its short-term asset purchase programme.
Australia: Employment and unemployment, June 2012 – A disappointing result
Employment disappointed with a large fall after recent strong gains. After recent strong gains, totalling 80k over the past three months, employment dropped by 27k in June (Barclays: 15k; consensus: flat).