Results for 'PMI'
12 articles with this tag name
Updated Apr 22, 2013 1:14:34 AM
The G20 has given a green light to the BoJ to continue on its path of aggressive monetary easing. The bank’s measures were not opposed by world leaders, which has resulted in a spout of yen weakens. The market was previously concerned that the BoJ would come under scrutiny for its aggressive easing campaign which has dramatically weakened the yen. However, it appears the G20 believes the rhetoric from Tokyo that the BoJ’s easing measures
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Updated Mar 4, 2013 11:28:06 PM
The RBA left the official cash rate at 3.00% at its policy meeting today, citing improving global sentiment and slightly below trend growth. The bank reiterated the inflation outlook provides scope for further easing if deemed necessary to support demand. On the financial sector, the RBA noted an improvement in sentiment compared to mid-2012, with risk spreads narrowing and funding conditions being more attractive. The bank also hinted at the improvement in prospects for
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Updated 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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Updated Apr 30, 2013 12:41:11 AM
The ASX 200 is looking like it may close at its highest level since 2008, with the financial sector leading the charge after ANZ raised its first-half dividend. Also, the broader market is feeding off a positive lead from the US on the back of better than expected housing data for March. Pending home sales increased 1.5% m/m, higher than an expected 1.0% increase and a prior 0.4% decrease. Building permits miss expectations, increasing
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Updated Feb 13, 2013 10:19:38 PM
Japan’s economy unexpectedly contracted in the three months to December, underscoring PM Abe’s calls for more action to spur growth and end deflation. While investors were looking for a small expansion in the final quarter of 2012 (0.1% vs. actual -0.1% q/q), the numbers are from a period before the new PM took office or, consequently, before a significant fall in the yen on the back of the PM’s aggressive push for more monetary easing
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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 Feb 28, 2013 11:33:30 PM
Two separate readings of manufacturing sentiment in China point a slowing expansion in the heart of its economy. Official manufacturing PMI slipped to 50.1 in February from 50.4 in the prior month. Economists were expecting to see a slight pick-up in sentiment according to Bloomberg. More evidence of a slowing expansion in manufacturing came from HSBC’s PMI data, with a more severe drop to 50.4 from 52.3, although this was largely expected as it was
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Updated May 1, 2013 12:56:08 AM
China’s growth rebound has taken another hit, with its manufacturing sector expanding less than expected according to an official survey of business sentiment. China’s purchasing mangers’ index fell to 50.6 in April from 50.9 the prior month, just missing a consensus estimate of around 50.7. The slump in sentiment in the heart of China’s economy is cornering, especially a decline in new export orders. While the headline figure is holding in expansion territory, albeit only
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Updated Feb 24, 2013 10:50:34 PM
An election in Italy, political wrangling in the US and mounting tension over BoJ nominations is keeping investors on their toes. The outcome of each event has the ability to significantly impact price action. Consequently, EUR is looking very nervous ahead of tonight’s final day of voting in Italy, while JPY looks to be banking on a very dovish nominee for BoJ Governor from PM Abe. Commodity currencies didn’t escape unharmed, with AUD and NZD
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Updated Apr 23, 2013 12:50:03 AM
Investor sentiment took a hit on the back of weaker than expected manufacturing data out of China, with investors flocking to safe haven assets. The yen was a particular favourite of the market today, which isn’t surprising given its safe haven status and its failed attempt to push through 100.00 yesterday. USDJPY was sent below 99.00 on the back of China’s PMI data and continued to sell-off for the rest of the session, before eventually
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