Tag Archives: AUD
FX Daily Strategist: US
No cut from the RBA this week. AUD should be due a rebound. The RBA is expected to remain on hold Tuesday after unexpectedly cutting rates last month.
US Morning Update
Major overnight headlines: •Norway’s may manufacturing PMI at 52.0 •ECB says banks deposited eu85.6 bln with it overnight
FX G10/EM Morning Trader Views
EUR – so month end doesn’t conform to expectations/or models by selling off into and rallying into the close to stand at 1.3020 as we open in ldn this morning.
FX Daily Strategist: Europe
A critical data week for the US dollar The US dollar faces key data this week, beginning with Monday’s ISM manufacturing PMI and culminating with the May employment report on Friday.
FX Morning Rundown
Asian bourses were mixed overnight with the Nikkei leading losses (unofficially closes down 3.72% at 13,261.82)
“Carry” currencies – The Double Whammy
• The Emerging Market and commodity currencies (“carry” currencies) have depreciated against USD and EUR in May, in particular AUD and ZAR have been hit.
CFTC: JPY short at 2007 high – dollar long rise for a fourth week
Hedge Funds continued to accumulate dollars during the week ending May 28 according to the latest data from the Commodity Futures Trading Commission.
Retail Trade – April 2013, Business Indicators – QI 2013
• Retail trade grew by 0.2% in April to be 3.2% higher through the year. • Over the month of April, retail trade growth was strongest in clothing, food and cafes.
The Week Ahead in FX
In the week ahead investors will be focusing the outcome of policy meetings by the European Central Bank, Bank of England and Reserve Bank of Australia.
Tapering – NZ Style
• Growth indicators moderating • But still robust • Profits and employment looking good
RBA Credit – April 2013
• Private sector credit rose by 0.3% in April to be 3.1% higher over the year. • Housing credit increased by 0.4% in April following an increase of 0.4% over March. It is up 4.5% over the year.
Australia Building Approvals – April 2013
• The number of residential building approvals surged by 9.1% in April to be 27.3% higher over the year.