Australian labor statistics

Awaiting the ECB Meeting Decision and Press Conference

October 20, 2016

EUR/USD is unchanged ahead of the ECB announcement. A policy change is not expected. Central bank policymakers also reviewed stances in Turkey and Indonesia. The dollar has strengthened 0.3% against the yen. Japan’s Nikkei closed 1.4% higher, while the German Dax is up 0.3%. WTI oil settled back 1.0% to $51.07 per barrel. Comex gold […] More

Some Investor Caution Returns

April 14, 2016

Yesterday’s stock market rally carried into Asia but not Europe. Share prices rose 3.2% in Japan, 1.3% in Australia, 1.8% in South Korea, 1.9% in India and 0.5% in China. Equities in Europe have settled back 0.7% in Greece, 0.4% in Spain and Italy, and 0.1% in the U.K. and France.  The German Dax is […] More

Expressions of Concern

February 18, 2016

St. Louis Fed President Bullard, who had previously been urging interest rate normalization, gave a speech warning that further rate hikes would be risky in light of the continuing decline of market-based indicators of expected inflation and because a buildup of unhealthy asset bubbles has become less probable. A member of the Bank of Japan’s […] More

Central Banks, Data, and China All in the Spotlight

January 14, 2016

Following Wednesday’s U.S. stock market selloff, share prices fell 2.7% in Japan, 1.9% in Singapore, 1.6% in Australia, 1.0% in Taiwan, 0.9% in South Korea, 0.6% in New Zealand and 0.5% in Hong Kong.  Equities in Europe are currently down on the day by 3.2% in Greece, 2.8% in France, 2.7% in Germany, 2.4% in […] More

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

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