Results for 'China'
32 articles with this tag name
Aktualisiert Apr 9, 2013 12:09:40 AM
USD was the biggest loser today, with the yen sell-off taking a break. EURUSD burst through a resistance zone around 1.3040 which trigged a push to a session high around 1.3070. There was no real fundamental reason for the drive. Instead, it seems bulls overwhelmed bears after the pair failed to hold below 1.3000 in last night’s NY session. China’s CPI is expected to ease further Commodity currencies were bolstered by China’s March inflation
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Aktualisiert Apr 3, 2013 12:31:55 AM
The US dollar outperformed, with commodities and the euro taking a bit hit. XAUUSD was hit by a second wave of selling in as many sessions, while EURUSD continued to drift lower. Also, the ASX 200 ignored positive local and international data in favour of weak Australian new home sales figures. The equity sell-off was mainly contained to Australia, although the Hang Seng has retraced its opening gains. The Nikkei 255 however, is currently in
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Aktualisiert Apr 2, 2013 12:31:14 AM
The RBA elected to leave the official cash rate on hold at 3.00%, citing slightly below trend growth and target levels of inflation. The bank retained a modest easing bias using its well-worn line that inflation provides scope for further easing if needed to stimulate demand. Then again, the bank noted that downside risk to global growth appears to be abating. On balance, the rhetoric from the RBA today is consistent with the bank’s current
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Aktualisiert Apr 1, 2013 5:30:32 PM
The Reserve Bank of Australia is widely expected to keep the official cash rate (OCR) at 3.00% at a policy meeting later today, citing recent strong domestic economic indicators and mixed conditions offshore. However, there is the possibility of another rate cut/s later this year if the Australian dollar strengthens further and/or non-mining growth fails to fill the gap left by an expected decrease in resource investment later this year. Today, the RBA is
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Aktualisiert Mar 28, 2013 12:10:35 AM
Fear of growth respective policies in China and ongoing European concerns hit risk sentiment, with the region’s biggest commodity currencies and most major equity markets falling, despite an impressive 17.2% y/y increase in China’s industrial profits. AUDUSD briefly dipped below its overnight low, before finding some sticky ground around 1.0420, while NZDUSD bounced off a support zone around 0.8350. Kuroda’s back on the wires In Japan, BoJ chief Kuroda was back in-front of parliament
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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 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 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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Aktualisiert Mar 10, 2013 11:59:56 PM
Policy makers in Beijing face a dilemma as inflation and growth concerns move onto their radar at the same time. Inflation is increasing (CPI +3.2% in February, expected +3.0% and prior +2.0%), limiting Beijing’s ability to respond to potential weakness in the economy. Recent soft economic data is compounding the problem. China’s imports fell 15.2% y/y in February, both unofficial and official manufacturing PMI’s disappointed last month, as did retail sales and industrial production. In
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