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CurrencyShares Australian Dollar Trust ETF (FXA)

  • Jul. 19, 2011, 5:17 AM
    Australia's central bank decided it had "more time" to assess the global risk and inflation outlook, according to minutes released this morning from the RBA's July 5 meeting, and said it "would be prudent to use that time." Australia has kept its rate unchanged at 4.75% since Nov. 2010. Aussie dollar +0.8% vs. the greenback.
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  • Jul. 15, 2011, 7:11 AM
    Westpac reverses its call for higher rates in Australia, now saying it expects a series of rate cuts to commence by 2011's end. "Interest rates are too high ... given the state of the non-mining sectors and a downward adjustment is required to avert a damaging round of contraction." The aussie dives 1% on the news, now buying $1.0652.
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  • Jul. 14, 2011, 12:40 PM
    Like a chicken that's had its head chopped off and continues to run around before keeling over is how John Taylor sees the euro. In fact, the euro is only holding up against the greenback and the pound - 2 currencies that have their own issues. Measured against the franc, yen, aussie, loonie, gold ... the euro shows every sign of weakness.
  • Jul. 13, 2011, 12:24 PM
    With the aussie back near all-time highs, some bet the currency could be getting set up for collapse. The biggest risk may be a slowdown in China, but the Aussie economy has its own troubles. Consumer confidence is sinking and high-end retailer David Jones tells of a "dramatic and rapid deterioration in trading conditions." FXA +1.7%.
  • Jul. 12, 2011, 10:51 PM
    Australian consumer confidence (pdf) plummets 8.3% in July as the EU debt crisis and a series of RBA rate hikes take their toll. "Such large falls have typically been associated with a major event ... Lehman, or recession fears," says Westpac economist Bill Evans. The aussie sinks nearly 0.5% before bouncing back on the strong China data.
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  • Jul. 10, 2011, 6:59 AM
    In comments bound to delight Euroskeptics - not - ECB chief Jean-Claude Trichet calls for an EU finance minister, although "it's not for tomorrow, it's for after tomorrow." The finance sector, meanwhile, probably won't be best pleased by Trichet's call for more regulation, "including (for) non-banking institutions."
  • Jul. 6, 2011, 11:55 PM
    Australian unemployment holds steady at 4.9% in June, but the number of jobs added comes in better than expected at 23.4K. A recent RBA warning of a slowing job market had markets braced for a weaker report. Red earlier, shares turn a bit higher, and the aussie jumps more than 0.5% to $1.0742.
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  • Jul. 6, 2011, 2:56 PM
    Not so long ago pricing in a continuing series of rate hikes, Australian STIR futures now assign the small chance of a cut at this month's meeting. Thoughts the RBA will downgrade its assessment of the economy were reinforced by Treasurer Swan's comments that the strong aussie is slowing everything other than the mining sector.
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  • Jul. 6, 2011, 9:10 AM
    Its booming mining sector facing massive labor shortages, Australia sends workforce development minister Peter Collier on a 10 day tour of the U.K. and Ireland to recruit workers. Labor issues have been one of the causes of delays and cost blowouts in major projects by Exxon (XOM) and BHP recently.
  • Jul. 5, 2011, 2:47 AM
    The Reserve Bank of Australia holds steady at 4.75%, as expected, but says the nation's growth may be weaker than previously expected. AUD -0.6% vs. USD. (RBA statement)
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  • Jun. 30, 2011, 10:03 PM
    China's official PMI falls to 50.9 in June, down from 52 the previous month, and lower than an anticipated 51.5. The reading is consistent with the flash number released by HSBC a few days back. The aussie slips about 40 pips to $1.0680 on the news, but is just giving back a bit of its major gains this week.
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  • Jun. 30, 2011, 9:55 AM
    The greenback doesn't know what to make of the powerful Chicago PMI. A stronger economy is supposed to send a currency higher, but "risk on" means the dollar must fall. For now, the greenback remains somewhat lower, with the outlier being a powerful move up against the swissie. FXF -0.9%, UUP -0.2%.
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  • Jun. 30, 2011, 7:22 AM
    RBA member McKibbin calls for higher rates across the board in the U.S., Europe, and Asia. "The (Fed) has to tighten policy, you cannot give away money and have a vibrant economy." The aussie illustrates this week's return to risk as good as any asset, a startling move 350 pips higher in 60 hours.
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  • Jun. 20, 2011, 10:56 PM
    The minutes of the RBA's June meeting show little urgency to resume rate increases. The strong currency is mentioned as helping to contain inflation, but also hurting non-resource sectors where activity is seen as "quite subdued." The aussie plunges 70 pips in minutes to $1.0536, and rate futures price for no hikes in 2011.
  • Jun. 15, 2011, 7:25 AM
    The aussie is bucking the "risk off" vibe today following hawkish comments from RBA chief Stevens. Instead of wringing his hands over the powering currency, Stevens focuses on the benefits, noting increased purchasing power and Aussies enjoying overseas vacations. Aussie flat at $1.0682.
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  • Jun. 13, 2011, 11:46 AM
    "There is no rationale for a country at that level of economic development to have not just duplication but triplication of those infrastructure projects," opines Nouriel Roubini, recounting a trip in China aboard a 1/2 empty high speed train, alongside a 3/4 empty highway, to a 3/4 empty station, next to a rarely used airport.
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FXA Description
CurrencyShares Australian Dollar Trust is designed to track the price of the Australian Dollar net of Trust expenses, which are expected to be paid from interest earned on the deposited Australian Dollars.
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Country: Australia
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