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Kiwi steady over weekend

September 1st, 2009

Today’s Commentary

The Kiwi starts today steady against the majors after a quiet day yesterday as the markets wait for this afternoon’s RBA decision.

The local session saw the currency slip back as weak regional stock market performances kept investor dollars elsewhere. The release of positive news did little to shift the market from its course, as the NBNZ business confidence survey saw 26% of respondents expecting their business performance to improve in the next 12 months. The result wasn’t a surprise to the market (it’s the 6th month in a row of gains for the survey), Read Full Article »

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Aussie Falters as China Hopes Fizzle

March 20th, 2009

The Australian dollar has retreated from highs seen yesterday again testing support levels around 0.6300 as a correction swept across markets.  Talk of the Chinese stimulus package proved to be overdone in what was a classic case of buy the rumour and sell the fact. Chinese premier Wen Jiabao disappointed markets as he failed to announce any addition to the original 4-trillion-Yuan stimulus package in his annual speech overnight. Read Full Article »

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Dollar slide against baskets of Currencies

March 20th, 2009

Dollar extends losses after biggest slide since 1985

The dollar fell sharply for a second straight session on Thursday and the euro soared above $1.37 as investors feared the Federal Reserve’s government bond purchases would end up debasing the world’s reserve currency. It also said it will increase mortgage-backed debt purchases in a bid to rescue the economy, sending the dollar to its worst one-day loss since at least 1985 and sparking the biggest slide in U.S. benchmark Treasury yields since the 1987 stock market crash. Read Full Article »

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Yen falls to year low, BOJ announce new stimulus measures

March 18th, 2009

Aussie dollar stays

A rally in U.S. equities prompted investors to buy higher-yielding assets, maintaining the Australian dollar’s gain while the New Zealand’s currency slipped. “The Aussie continues to gain on broad-based U.S. dollar weakness as stock and commodity markets trade in positive territory,” said Nick Jones, a currency trader at Suncorp- Metway Ltd. in Brisbane. The Standard & Poor’s 500 index has rebounded 15 percent from a 12-year low on March 9, triggered by optimism that the worst of the financial crisis was over after Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co. said they were profitable in the first two months of the year. Read Full Article »

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Aussie Strong Despite Wall Street Fizzle

March 17th, 2009

The Aussie dollar has opened below .6600 this morning after a late night sell off in US equity markets ended a positive four-day run. The bull-run fuelled by strong performances in banking stocks ended after American Express announced US credit card delinquencies rose to 8.7% per cent in February - a rise of .4%.  The delinquencies were attributed to an increase in job losses and a deteriorating US economy. Read Full Article »

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