Results for 'Australia'

6 articles with this tag name

Fundamental Update: The RBA saves its ammunition

Updated  Feb 4, 2013 11:47:57 PM

The RBA returned to the policy table today, where it decided to leave the official cash rate unchanged. The market had largely priced in the decision by the bank, thus the initial reaction from the aussie was somewhat muted, although the accompanying statement by Governor Stevens resulted in a small sell-off in the commodity currency. AUDUSD was sent sliding towards 1.0395, but didn’t have the momentum to push through a significant support zone around this  [...] Continue Reading ...

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Asia Session: USDJPY nears 100.00

Updated  Apr 8, 2013 12:43:31 AM

USDJPY may be poised to break 100 sooner rather than later. The pair flirted with a resistance zone just below 99.00 today, and given the strength of the easing message sent last week by the BoJ, it would be bold to fight against the bank at this stage. There is still a lot more the bank can do in terms of aggressively easing policy; measures which may be enacted in the BoJ’s quest for 2%  [...] Continue Reading ...

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Asia Session: Shirakawa passes the baton to Kuroda

Updated  Mar 6, 2013 11:34:39 PM

The BoJ’s two-day policy meeting was largely a non-event for the market, with the bank holding off on further easing in light of an upcoming power handover. This was Shirakawa’s last meeting as BoJ governor. At the bank’s next meeting in April, it will be headed by former Asian Development Bank Chief Kuroda. Under his tenure the market is expecting a much more dovish BoJ than was the case under Shirakawa. This puts a lot  [...] Continue Reading ...

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Asia Session: JPY slides in the lead up to Kuroda’s first policy meeting as BoJ chief

Updated  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  [...] Continue Reading ...

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Asia Session: Australia’s GDP saved by exports

Updated  Mar 5, 2013 10:49:50 PM

Australia’s much anticipated Q4 GDP was released today, with mixed results. The headline figure was in line with market expectations of 0.6% q/q and Q3 GDP was revised up to 0.7% q/q from 0.5% q/q, but the share of GDP within Australia is still widely skewed to mining. Western Australia (Australia’s mining capital) grew 14.2% y/y, while NSW’s and Queensland’s economies grew a much more modest 2.4% and 2.2%, respectively. Victoria actually sank over the  [...] Continue Reading ...

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Asia Session: AUDUSD held its ground despite softer than expected Q3 AU GDP data

Updated  Dec 4, 2012 10:28:33 PM

AUDUSD managed to hold onto its overnight gains despite a softer than expected Q3 Australian GDP figure. The market was expecting GDP to have expanded 0.6%, the same as Q2. Instead, the headline figure for the September quarter was 0.5%, which brings y/y GDP growth to 3.1%. The number brings with it some mixed feelings regarding the health of the Australian economy. Whilst Australia has one of the highest growth rates amongst developed nations, it  [...] Continue Reading ...

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