The Aussie dollar has opened above .6500 this morning after another positive performance in global equity markets on Friday. Whilst positive equity market performance has heightened the demand for high yielding currencies - the Aussie, whilst strong - still failed to reach that psychological trading level of .6600. Read Full Article »
Aussie Holds Above .6500
March 16th, 2009
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| tags:global equity, international markets, RBA, STI, Wall Street
Crunch Time for the Kiwi
March 12th, 2009
The Kiwi stayed range-bound yesterday as global equity markets held onto the previous night’s gains, which in turn further weakened the USD.
The Kiwi’s local session was dominated by the opening of local markets and their reaction to Wall St’s jump. With Citigroup likely to post a first-quarter profit, fears have eased about the stability of the US’s banking system, and stocks rose across Asia. Read Full Article »
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Kiwi up as stock markets rebound
March 5th, 2009
The Kiwi climbed overnight as a small degree of confidence returned to global equity markets.
It wasn’t all sunshine and kittens for the Kiwi though as the local session saw it and AUD pulled back from the previous night’s gains. The biggest drop came when the Australian GDP figures were released showing a surprising contraction of 0.5% in Q4 2008 – the first drop in 8 years and considerably under the expected 0.2% rise. The AUD dropped a cent against the USD on the news (pulling the Kiwi lower) as investors wondered whether the RBA’s confidence had been misplaced, with pressure now being brought to bear for a large rate cut in April. Read Full Article »
Share this article: | tags:gdp figures, global economy, global equity, house price, Interest Rate, kiwi, rally, RBA, risk appetite, STI, Stimulus Package, Stock Market, stock markets, USD
AIG in Search of More Help
February 24th, 2009
Insurer Said to be Looking for Third Bailout
The Dow Jones Industrial Average hit a 12-year low yesterday in touching the 7105-mark on heavy volumes while Toronto’s TSX hit a 6-year low at 7640 and Tokyo’s Nikkei hit a 27-year low overnight. Global equities, furthermore, were sent into a tailspin yesterday on news reports that American International Group, rescued twice last year by the U.S. government, could be coming to the U.S. Treasury, cap in hand, asking for more cash. A source familiar with the situation is reporting that the firm is facing a potential fourth quarter loss in the range of $60B USD, which, if true, would mark the largest single quarter loss in corporate history, dwarfing even Time Warner’s 2002 disaster of $54B in a three-month period. Read Full Article »
Share this article: | tags:global equity, home price index, house price, housing market, lows, Monetary Policy, Obama, oil price, oil prices, STI, TSX, USD, Wall Street, Yen
