Results for 'ASX'
6 articles with this tag name
Updated May 8, 2013 6:43:59 PM
Earlier this week the RBA cut Australia’s official cash rate to an all-time low of 2.75%, which along with positive leads from overseas markets’ sent the ASX 200 to its highest level since June 2008. But can the equity binge in Australia continue? Australia’s unemployment rate has been steadily trending higher as local equities have been rallying, at the same time as Australia’s stubbornly high Aussie dollar has been hurting trade exposed sectors of the
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Updated May 8, 2013 1:17:52 AM
RBNZ Governor Wheeler sparked a sell-off in the kiwi after he stated that the RBNZ has been selling NZ dollars and is capable of further intervention to weaken the kiwi. This isn’t the first time the Governor has talked about intervention, but the idea of being on the wrong side of the fence if the bank were to start heavily amassing foreign currency spooked the market. NZDUSD lost just fewer than 100 pips immediately after
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Updated Mar 12, 2013 12:29:37 AM
Rumours that BoJ Governor nominee Kuroda is considering surprise action to combat deflation spurred a sell-off in the yen that was extended by dovish comments from BoJ Deputy Governor nominees Iwata and Nakaso, as well as dovish meeting minutes from the BOJ’s February meeting and weak domestic data. The Nikkei newspaper in Japan reported that Kuroda may launch the start of his easing cycle as soon as he takes office, as opposed to waiting for
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Updated 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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Updated Apr 15, 2013 12:53:33 AM
A slew of weak Chinese economic figures underpinned a risk sell-off and stocked fears that China’s economic recovery is already burning out. China’s Q1 GDP increased 7.7% y/y, significantly lower than the 8.0% y/y rise that was expected. Over the same period industrial production and fixed asset investment in the world’s second largest economy also missed estimates, increasing 8.9%y/y and 20.9% YTD y/y respectively. Retail sales were in line with estimates of a 12.6% rise.
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Updated 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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