Tue, May 3, 7:30 AM
- The RBA slashed its benchmark policy rate by 25 basis points to a record-low 1.75% overnight, and left the door open to additional easing moves.
- The action sent the ASX 200 soaring by 2.1%, and the aussie tumbling by 1% vs. the greenback.
- At least one analyst questioned the move, noting considerable firming in commodity prices of late, but another says the RBA has its eye on the recent rally in the Australian dollar which took it from worth about $0.68 early this year to $0.78 a few sessions ago.
- ETFs: FXA, EWA, IAF, AUSE, CROC, KROO, EWAS, FAUS, QAUS, HAUD, DBAU
Sep. 10, 2015, 3:49 AM
- Australia's jobless rate slipped to 6.2% in August, as expected, from 6.3% in July.
- The growth in the number of people in work moderated to 17,400 from 39,200 a month earlier but topped consensus of +5,000.
- The number of full-time jobs rose 11,500 following an increase of 13,100, while that for part-time positions grew 5,900 vs +26,100.
- The participation rate dropped to 65%, as expected, from 65.1%.
- Factors that could be boosting employment include record-low interest rates, a weakening currency and tepid wage rises.
- The S&P/ASX 200 fell 2.4% while the AUD-USD is +0.4% at $0.7.
- ETFs: FXA, EWA, IAF, AUSE, CROC, KROO, EWAS, FAUS, QAUS, HAUD
Aug. 11, 2015, 7:44 AM
- The aussie (NYSEARCA:FXA) is lower by 1.2% vs. the dollar at $0.7322 after the currency of its key trading partner was devalued by 2% overnight. Stocks in Sydney fell 0.7%.
- "It seems the export numbers over the weekend were the final straw [for Beijing], says a Westpac currency strategist.
- Checking another commodity currency, the loonie (NYSEARCA:FXC) is lower by 0.4% vs. the greenback, though it had been down as much as 1% following China's move.
- ETFs: EWA, IAF, AUSE, KROO, EWAS, FAUS, QAUS, HAUD
Jan. 23, 2014, 4:46 AM
- Asian equities are mixed after preliminary data from HSBC showed that Chinese manufacturing activity contracted for the first time in six months.
- "The weak flash PMI will inevitably inflame China slowdown worries, but this is only one data point," says strategist Linus Yip. "If more data start to also show a deeper slowdown, Beijing may be forced to stimulate in order to maintain a stable basis for growth that they need to execute reforms."
- However, it was the Hang Seng that seemed to take the brunt of the losses, falling 1.4%, while Australia's S&P/ASX 200 dropped 1.1%.
- The Shanghai composite closed -0.5%, with the negative mood perhaps offset by the People's Bank of China conducting 120B yuan ($19.8B) of 21-day reverse-repurchase agreements as it seeks to further defend against a credit crunch.
- Elsewhere in Asia, Japan's Nikkei closed -0.8% and India's Sensex is +0.15%.
- ETFs: FXI, EWA, EWH, PGJ, GXC, FXP, HAO, YINN, TAO, CHIQ, ASHR, CHIX, YANG, MCHI, PEK, KWEB, CQQQ, QQQC, XPP, AUSE, YAO, CHXX, CHII, CHXF, ECNS, CHIE, YXI, CHIM, EWHS, FCHI, KFYP, FCA, TCHI, CHNA, FHK, FAUS
Jan. 16, 2014, 4:28 AM
- As expected, Australia's jobless rate was unchanged at 5.8% in December.
- However, the number of people in employment fell by 22,600 after a rise 15,400 in November and badly missed consensus for an increase of 7,500.
- The number of full-time jobs plummeted by 31,600 following an increase of 10,500, while that for part-time positions grew 9,500 vs +5,500.
- The Australian dollar is -1.45% at $0.8786, although mining stocks helped lift the S&P/ASX 200 by 1.2% despite the disappointing figures. (PR)
- ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
May 10, 2013, 7:41 AM
The Australian dollar (FXA) sinks below parity with the greenback for the first time since last June, a victim of a slowdown in the Aussie economy and weak commodity prices (the two are surely intertwined). Aussie stocks are rising along with the rest of the world, but the Australian Index Fund ETF (EWA) - unhedged against the currency - is lagging.| May 10, 2013, 7:41 AM | 2 Comments
Jul. 12, 2012, 2:28 AMAustralia's jobless rate rose for a second month, to 5.2% in June from 5.1% in May. The number of people employed fell by 27K, led by essentially erasing a revised 27,800 job gain in May. Aussie dollar -0.8% to $1.0168. ASX 200 index -0.7%. | Jul. 12, 2012, 2:28 AM | 2 Comments
May 1, 2012, 6:50 AM
Apr. 12, 2012, 2:07 AMAustralian payrolls rose a larger-than-expected 44K in March. The jobless rate stayed at 5.2% compared with expectations for a rise to 5.3%. Aussie dollar +0.7% vs. USD. | Apr. 12, 2012, 2:07 AM
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