Results for 'AUD'
107 articles with this tag name
Aktualisiert Mar 27, 2013 12:18:30 AM
Asia’s two main commodity currencies, AUD and NZD spent the session consolidating overnight gains against the USD, while the yen continues to lose ground in the lead up to next week’s BoJ policy meeting. BoJ Governor Kuroda has been putting as much distance as he can between his and former BoJ Governor Shirakawa’s policies as part of PM Abe’s push for aggressive monetary easing. Shirakawa believes that easing is limited in its ability to spur
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Aktualisiert Mar 25, 2013 11:45:32 PM
The euro is licking its wounds after being assaulted by a wave of sellers overnight, as Cyprus announced its banks will remain closed until Thursday. EURUSD’s rise above 1.3000 on the back of Cyprus’s bailout deal was short-lived, with the pair falling victim to fear that the bail-in will set a precedent for future bailouts. Furthermore, renewed tensions in Europe bring to light fundamental weaknesses in key Eurozone economies which are weighing on the common
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Aktualisiert Mar 24, 2013 11:40:36 PM
Cyprus is set to receive a EUR10bln bailout after an agreement was reached between the struggling island nation and the troika and EU ministers. The deal is similar to a proposal put forward by the IMF and Germany last week, whereby the island’s two-largest lenders take the brunt of the pain imposed by the troika. However, it differs from last week’s proposed deal in one key area – the Bank of Cyprus will not be
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Aktualisiert Mar 21, 2013 12:33:30 AM
New Zealand recorded its fastest quarter of growth in three years during the three months ended December 31, posting an impressive 1.5% q/q increase in GDP. This was significantly more than the 0.9% increase the market was expecting and almost doubles the central bank’s 0.8% estimate, thanks to retailing and reconstruction efforts in Christchurch. The kiwi soared on the back of the data, erasing all of its losses over the last few days against the
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Aktualisiert Mar 19, 2013 11:39:46 PM
USD and JPY consolidated their overnight gains won on the back of Cyprus rejecting the EU’s bail-in conditions. A lack of headline data releases and a bank holiday in Japan kept most of the majors fairly range bound, with the exception of NZDUSD which appears to be playing catch-up with its 200day SMA. Coincidently, both EURUSD and AUDUSD found some support around their 200day SMA’s during the session. Kuroda’s first day in office Kuroda’s
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Aktualisiert Mar 19, 2013 12:26:16 AM
Uncertainty surrounding a proposed deposit levy in Cyprus weighed on investor sentiment and yet another NZ official talked down the kiwi. This time around NZ Finance Minister English was behind a sharp sell-off in the kiwi. He stated that he NZ dollar is overvalued and interest rates may stay lower for longer, which sparked a sell-off that sent NZDUSD to a support zone around 0.8240. Prior to today’s comments from English, RBNZ Wheeler talked down
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Aktualisiert Mar 18, 2013 12:15:28 AM
Risk assets are reeling from the details of a proposed bail-out deal for Cyprus, where the island nation is being asked to introduce an unprecedented once-off levy on deposit holders. In other words, the German-led group of creditors is asking Nicosia to pony-up some of the dough for its bail-out by taxing its citizens’ savings and foreign deposits at its banks. Unsurprisingly, the deal is being met with a lot of resistance in Nicosia and
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Aktualisiert Mar 15, 2013 12:25:06 AM
Kuroda, Iwata and Nakaso have received the approval of Japan’s upper house as BoJ governor and his deputies, respectively. All the BoJ officials passed with flying colours, even Iwata managed 124 votes towards his nomination (96 against) despite some opposition to his appointment from the DPJ. The decision by Tokyo was largely expected, thus the yen’s reaction was fairly limited. There are high hopes for the revamped BoJ to enact aggressive policy easing in
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Aktualisiert Mar 13, 2013 11:27:15 PM
Since late 2011 AUDNZD has dropped from above 1.3200 to below 1.2200, over 1000 pips in total. The separation of the two currencies was underpinned by a divergence of policy between the Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand (RBNZ), with the latter staying on hold as the former lobbed 175 bps off its cash rate. However, since the RBA’s tone turned more neutral than dovish at is February meeting,
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Aktualisiert Mar 13, 2013 12:18:14 AM
Australian consumer confidence has risen for the third straight month to its highest level since December 2010 (110.5). Investors have become much more optimistic this year about the prospects for global growth, and at the same time prior interest rate cuts are finding their way into the real economy, making consumers more cheerful about domestic growth. The turn in sentiment has been evident in a massive drive towards equities this year. Risk sentiment tumbles
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