Forex News
China PBOC Expands Market Ops, Sees Recent Yuan Moves Normal
China PBOC Expands Market Ops To Counter Liquidity Inflows The People’s Bank of China expanded the scope of its efforts to remove liquidity from
RBA Keeps Rate Unchanged; Reverts To Exchange Rate Jawboning
The Reserve Bank of Australia left its cash rate unchanged on Tuesday as widely expected but is once again trying to jawbone the currency, saying it remains high by historical standards.
RBA Board leaves cash rate unchanged and seeks a period of “stability”
The RBA left the cash rate at 2½% at the March meeting, as was universally expected. The consistent message in recentRBA commentary is that the “prudent” course for monetary policy is for a period of stability.
Balance of Payments – QIV 2013: External accounts looking rosy!
The QIV Current Account Deficit (CAD) shrank to $10.1bn, which was in line with market expectations of a $10.0bn deficit{CBA’s forecast was for a $9.6bn CAD}.
Building Approvals – January 2014
The number of residential building approvals lifted by a strong 6.8% in January, bettering market expectations whichcentred on a rise of 0.5% (CBA (f) +1.0%).
Business Indicators – QIV 2013
Gross company operating profits rose by 1.7% in QIV which was a little weaker than market expectations which centred ona 2.0% increase (CBA (f): 3.0%)).
Fed Officials Warned Of Another Possible Bond Market ‘Tantrum’
As the Federal Reserve throttles back on its bond buying and reduces monetary stimulus, the stage may be set for another bond market “tantrum” that could do
Fed Plosser: 6.5% Unemployment Irrelevant, No Rate Hikes Yet
Philadelphia Federal Reserve Bank President Charles Plosser said Friday the Fed’s 6.5% unemployment threshold for considering federal funds rate hikes has become “irrelevant” and
Euro area: Inflation surprises to the upside
The flash estimate of Euro-area HICP inflation in February came out at 0.8% y/y, which is unchanged from the revised January number and a small upside surprise to our expectations and consensus expectations of 0.7%.
Sweden: Great Domestic Product
Swedish GDP Q4 beats all expectation with positive surprises from both exports and private consumption. Inventories lifted y-o-y GDP growth by a full 1.5% point,
Economy Watch – Hot, Hot, Hot
Businesses have no doubt that economic activity will accelerate in 2014. It was written all over this afternoon’s business survey. To say the ANZ survey was strong would be the understatement of the past two decades.
RBA Credit – January 2014
Today’s credit data continues to show that the low interest rate environment is helping to lift housing-related borrowing.But annual growth in the other areas of lending,