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Aussie data stuns markets

Yesterday’s Australian home building approvals number shocked the market as it came in considerably down from the previous months. The leaders of Spain and France
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US data eases talk of Fed stimulus

The US dollar strengthened versus the majority of its 16 major counterparts as the US economy grew more than estimated, whilst pending home sales also
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Kiwi falls after Fonterra cuts payout

The Kiwi eased back half a cent on a market release by Fonterra cutting its payments to farmer’s forecasts as the Euro strengthened against the
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Markets quiet as they wait for news

It has been a quiet 24 hours in the markets with hardly any currency movement, as investors wait for the press conference’s from Europe and
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Bernanke to signal intentions; European leaders optimistic

In what proved to be a busy end to the week, the markets remained in positive territory after the Fed Chairman Ben Bernanke indicated that
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US housing continues rise; China still slowing

Overnight there was mixed news from the US, with housing showing improved numbers, although employment remains the one real thorn in the Fed’s side as
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Housing holds key to the US economic outlook

The FOMC minutes were released last night and they showed that ‘many’ of the policy makers believed that additional monetary accommodation was ‘likely’ unless the
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Euro rises as Spanish yields fall

The Euro appreciated to a six week high against the US dollar as the positive sentiment continues, with Germany easing their position on Greece’s concessions
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Outlook positive for Kiwi households

The outlook for New Zealand in the 2nd half of the year is looking increasingly positive as the ripples from the Eurozone debt crisis ease
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Aussie lower on Treasury comments

The Australian dollar fell against the major currencies after comments made by the Australian Treasury said that the RBA would be able to ease monetary
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US house builds hit 4 year high

Data out in the US last night showed that permits for new homes hit a 4 year high as the positive housing numbers continued. However,
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Dairy prices up 7.8%; More positive data from US

This morning’s Fonterra dairy auctions jumped as dairy prices posted their 3rd biggest gain ever. The positive data flow continued last night as the US
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Healthy data from Europe, US & NZ

On the data front, it has been a positive 24 hours as results came in better than market estimates. The data kicked off yesterday in
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Euro strengthens against the Kiwi

The Euro was given a boost overnight as Italy reached its target in selling 1 year bonds, whilst also helping the shared currency higher was
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Kiwi & Aussie bounce back after knocks

After last week’s softer data, where we saw China’s trade surplus narrow and New Zealand’s unemployment figure edge up to 6.8%, whilst credit card spending
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Mixed news for NZ & AU employment data

Both New Zealand and Australia had updates on their unemployment rates yesterday, with the Kiwi rate marginally higher and Aussie rate lower. China also had
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Euro softens on data and ratings

The Euro eased back overnight against the US dollar, as one of the more peripheral rating agencies reviews the credit rating of Spain, Italy Greece
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Kiwi & Aussie softer as RBA hold

The Reserve Bank of Australia held their overnight cash rate, identifying softening economic growth as one of the factors. New Zealand’s labour costs rose, indicating
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Euro continues its accent on ECB optimism

The Euro is continuing its recovery as investors believe that the European Central Bank is moving in the right direction in dealing with the regions
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US unemployment higher even though more jobs added

In a strange set of circumstances, data out on Friday night showed an uptick in the rate of unemployment even as more jobs were added
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Draghi disappoints markets

On the conclusion of the European Central Bank policy meeting, its President Mario Draghi confirmed that the policy leaders did what they do best, very
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Dairy prices up; Fed hints but holds

Last night was the Global Dairy Trade Auction, where the Trade Weighted Price Index showed prices rose 3.5% compared to July, in the main due
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Kiwi & Aussie higher on positive data

New Zealand’s business confidence moved higher in July, as employment and investment outweighed concerns over the European debt situation. Overall a net of 15% of
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