The RBA has lifted rates from 3% to 3.25% and has warned of more to come. Governor GlennStevens has told the media, that the global economy is resuming growth and that economic policy settings likely to remain expansionary for some … Continue reading
Seasonally adjusted motor vehicle sales rose 4.9% in September from August. However on they were still down 3.5% from a year ago, but that was an improvement from August, which was down 5.2% on the year.
The worse than expected Australian trade deficit has done little to move the AUDUSD which remains bid at the top of the recent range. Forecast was was a deficit of A$850 Mln but the number came in at A$-1524 Mln. … Continue reading
The balance of goods and services for Australia in August was AUD -$1524 million aganist forecasts closer to AUD -$850 million. The AUD is unmoved despite the rather poor data.
Surely waiting another month, especially a month like October with it’s dangerous history for stock markets, would not make much difference. Or wait until the New Year when the recovery is entrenched by 12 months and then hike by 50bps … Continue reading
It has been a very quiet session in NY overnight but the USD has continued to drift lower. AUD and NZD are opening in Asia close to their highs and with many now expecting the RBA to hike rates by … Continue reading
With Australian and Chinese markets closed, liquidity is markedly down and the AUD/USD has gained almost a cent on the day after various commentators emerged to throw their tuppence-happenny worth into the interest rate debate. The Australian Financial Review and … Continue reading
Australia’s services sector recorded aslower pace of contraction in September. The Performance of Services Index(PSI), rose 1.3 points to 49.3 in September from 48.0 in August. Still under 50, indicating contraction.
A closely watched private sector indicator of inflation pressure in Audstralia was unchanged in September on a monthly basis, following a similarly flat result in August. The inflation gauge rose 1.3% in September from a year ago, suggesting that price … Continue reading
Building approvals have come in worse than expected at -0.1% MoM, s/adj. Forecast was +1.5%.