Tag Archives: AUD
Asia FX Rundown
News and markets Hong Kong and India on holiday today. The votes are being counted in the Mexican presidential and congressional elections held yesterday.
Australia and New Zealand Weekly: The carbon tax and inflation
The carbon tax starts on 1 July and should add 0.7pp to the CPI. This matches RBA and Government forecasts, although we estimate a larger 0.5pp boost to underlying inflation. The risk is that the boost to the CPI is larger, although with some delay.
Asia FX Rundown
Europe news It’s all about the EU summit today. Here’s the statement: Summit. The market is most excited about the idea that the ESM/EFSF will not be senior to other Spanish bondholders, indeed this is good news for Spanish bonds.
Asia FX Rundown
News and markets Cyprus was downgraded by Moody’s yesterday to junk status and quickly asked the EU for a bailout.
CFTC: Dollar long cut by 44 percent; AUD back to neutral
Hedge funds and other money managers cut their net dollar long exposure through IMM currency futures by 44 percent following the Greek election and ahead of the US Federal Open market Committee meeting.
AUD Analysis
The currency is holding steady versus the U.S. currency ahead of the release of minutes for the June 5 meeting by the Reserve Bank of Australia when it slashed the cash rate target by 25 basis points to the lowest level since 2009, citing worries about the spread of the debt crisis in Europe and […]
Currency Weekly: Commodity currencies: not quite what you think
With commodity prices falling in recent weeks, the market has been selling the traditional commodity currencies (AUD, NZD, and CAD). However, the relationship is more complex than it appears.
Currency Outlook: Euro fallout: GBP beware schadenfreude
We believe Greece will remain in the euro, but analyse the situation using a simple decision tree framework to look at other possible scenarios. We would caution that GBP may not be the shelter from the euro storm that many suggest. There are grounds for GBP’s resilience, but these could vanish were the euro situation […]
Asia today: 3 in a row! Oz trade data better than consensus
For the third day in a row, Australia was in the spotlight during the Asia session. This time it was the turn of trade data for April. The trade balance came in at a deficit of A$203 mln, well below consensus estimates of a A$900 mln deficit and a sharp improvement on the revised A$1.282 […]
AUDCAD: a second chance for tardy bears
AUDCAD has ripped higher in sympathy with the crazy rally in markets on the hopes that central bank intervention will once again put a bid under risk assets. The Australian dollar is often one of the higher beta currencies to risk appetite among the major currencies, and the last several days of market action have […]
Asia today: AUD soars (again) after very strong employment data
The Australian economy is on a roll with another data set today that almost defies belief. After yesterday’s stunning GDP performance it was the turn of labour data to beat consensus estimates by a large margin. The Australian economy added 38.9k jobs in May, well above the flat reading expected, and it was difficult to […]
Asia today: No worries mate! Australia’s Q1 GDP is sky high
Spectacular! That is the only way to describe the performance of the Australian economy in the first quarter of the year, at least according to the latest data from the Australian Bureau of Statistics.