Australian labor statistics

Focus on Both Data and Central Banks

December 10, 2015

The dollar¬†showed a mixed performance overnight, falling by 1.0% and 0.6% against the Australian and New Zealand dollars, holding steady versus the yen and sterling, and rising 0.7% relative to the euro, 0.4% vis-a-vis the Swiss franc, 0.3% against the yuan and 0.1% versus the loonie. Japan’s Nikkei lost 1.3%. ¬†Elsewhere in the Pacific Rim, […] More

Tug of War on EUR/USD

April 16, 2015

Across-the-board overnight losses in the dollar masks opposing forces on the key EUR/USD relationship. Relative to key European monies, the dollar on balance has lost 0.6% against sterling, 0.4% versus the euro and 0.2% relative to the Swiss franc. At one point, however, the dollar had retreated as far as 1.0764 against the euro but […] More

Many Central Banks Are Heard From

December 11, 2014

Even before the highly awaited U.S. retail sales report, several central bank policy announcements held the market’s attention. The Reserve Bank of New Zealand kept its official cash rate at 3.5%.  Although inflation is currently modest, it is expected to approach 2% later in the forecast period, and that will likely necessitate a further increase […] More

Australian Labor Market Shocker, Chinese Price Data, and Four Central Bank Decisions

September 11, 2014

Australian employment shot up by a record 121,000 workers in August, propelled by a 106.7K advance in part-time positions.  The Jobless rate fell for the first time since April and to 6.1% from 6.4%, while the labor participation rate climbed 0.4 percentage points to a 16-month high of 65.2%.  Analysts had projected only an 18K […] More

New Zealand Interest Rate Hike and Soft Chinese Data

March 13, 2014

New Zealand became the first advanced economy to lift its benchmark interest rate.  The central bank, RBNZ, raised the Official Cash Rate to 2.75% from 2.5% and signaled that more increases will be forthcoming over the coming two years.  The action sent the kiwi to a new trade-weighted high. Chinese industrial production growth in January-February […] More

Stronger Aussie and New Zealand Dollars

May 9, 2013

Rises of 0.9% in the kiwi and 0.6% in the Australian dollars versus the greenback were inspired by better than expected labor statistics in those economies. Australian employment jumped 50.1K in April, easily reversing a 31.2K decline in March and forecasts of a 12-15K recovery.  The Aussie unemployment rate eased back to 5.5%, and labor […] More

A Hopeful Investor Mood

March 14, 2013

European equities rose to their best levels since June 2008, emboldened ahead of a two-day summit of EU leaders in Brussels and by evidence of U.S. economic resilience in the face of fiscal spending cuts. There have been a slew of central bank interest rate announcements. The Reserve Bank of New Zealand retained a record […] More

Volatile Currency Movements Overnight

January 17, 2013

The U.S. dollar has risen 1.1% versus the yen but declined 1.0% against the kiwi.  The buck advanced 0.5% against the Aussie dollar but dropped 0.6% against the euro.  The dollar also has eased 0.2% vis-a-vis sterling and 0.1% against the Swiss franc.  The Swissie is trading weakly against the euro at 1.2439, almost five […] More

Another Day Closer to Yearend and a Downgrade of Greek Debt

December 6, 2012

The currency markets are mostly calm.  The dollar is unchanged against the euro and loonie, down 0.1% relative to the yen and sterling, and up 0.1% versus the yuan and Swiss franc.  The U.S. currency has lost 0.4% against the kiwi and 0.3% versus the Australian dollar. Stock market movements overnight have been diverse.  Japan’s […] More

Several Issues in the Spotlight

October 11, 2012

A slowdown of emerging market growth elicited interest rate cuts in Brazil and South Korea but not Indonesia. S&P downgraded Spain’s credit rating by two notches.  The move was not surprising. Italian debt auctions produced mostly lower interest rates and higher bid-cover ratios.  From a size standpoint, the top end of planned sales was achieved. […] More