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 »
Aussie Falters as China Hopes Fizzle
March 20th, 2009
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| tags:general motors, Gold, Greenback, Interest Rate, Interest Rates, lows, Market sentiment, recession, Risk Aversion, STI, Stimulus Package, unemployment, Unemployment Rate
Aussie Races Past 0.6500
March 13th, 2009
For a third day the Aussie has opened higher against the greenback as risk appetite continues to return to the market boosting confidence and benefiting high yielding currencies. The local unit was helped with the Dow rallying for the third straight day, closing up over 3% this morning. Read Full Article »
Share this article: | tags:Greenback, rally, retail sales, retail sales figures, risk appetite, STI, struggle, Trade Balance, unemployment, Unemployment Rate
CAD Rally Continues Despite Data
March 13th, 2009
Jobs Data and Trade Balance Both Disappoint
USDCAD continues to grind lower this morning with the pair briefly trading with a 1.26 handle despite a rather sobering run of Canadian data released ahead of the North American open. Though Canada’s performance, with respect to the employment market, has been well ahead of that of the US over the past 15 months, Canadian businesses are now clearly shedding positions at a rate that could soon see Canada’s unemployment rate rival that of its southern neighbour. Read Full Article »
Share this article: | tags:Geithner, global economy, losses, lows, Market sentiment, rally, STI, struggle, Trade Balance, trade deficit, unemployment, Unemployment Rate, us treasury bonds, USD
Aussie Firms Ahead of Unemployment Rate
March 12th, 2009
The Aussie has opened higher against the greenback this morning as risk appetite continues to return to the market. Further speculation that the global financial crisis is nearing an end reducing investor reliance on the USD was the cause of the rally. Read Full Article »
Share this article: | tags:global financial crisis, Greenback, Interest Rate, Interest Rates, losses, NZD, rally, risk appetite, struggle, Trade Balance, trade surplus, unemployment, Unemployment Rate, USD
Aussie Falters as China Hopes Fizzle
March 6th, 2009
The Australian dollar has retreated from highs seen yesterday again testing support levels around 0.6300 as a correction across markets was prompted. 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 »
Share this article: | tags:general motors, Gold, Greenback, Interest Rate, Interest Rates, lows, Market sentiment, recession, Risk Aversion, STI, Stimulus Package, unemployment, Unemployment Rate
