Australia left its key interest rate unchanged and omitted a reference to the need for the local dollar to fall further. The currency jumped more than half a U.S. cent in response. Central bank Governor Glenn Stevens and his board kept the cash rate at a record-low 2 percent, as predicted by markets and economists …
The Australian dollar is weaker against a greenback that has been strengthened by positive comments from the US Federal Reserve. At 1:45pm AEST on Thursday, the currency was trading at 73.10 US cents, down from 73.21 cents on Wednesday. BK Asset Management managing director Kathy Lien said the Aussie was under pressure throughout the north …
Australia’s currency has had one of the most rapid depreciations of its real exchange rate, only beaten by a ragged bunch of troubled economies. Kieran Davies of Barclays Plc estimates that the Aussie’s 16 percent fall from 2013 to the end of the second quarter is the fastest after Colombia — where growth has halved; …
A key gauge of Chinese manufacturing activity tumbled to a 15-month low in July, an independent survey showed, throwing a pall over growth in the world’s second-largest economy. The preliminary reading of Caixin’s Purchasing Manager’s Index (PMI) came in at 48.2 this month, the Chinese media group said in a joint statement with Markit, a …
AUD/USD Drops to Below 0.73 after China Manufacturing Data Read More »
