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AUD News
Australia Leading Index Rises 0.3% - Conference Board
An index measuring the outlook for the Australian economy moved up 0.3 percent in September, the Conference Board revealed on Tuesday, following the 0.2 percent contraction in August and the 0.2 percent gain in July.
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RBA Minutes: Further Rate Cuts Remain Possible
The members of the Reserve Bank of Australia's monetary policy board said that the Australian economy continues to expand below trend, and therefore will not absolutely rule out additional stimulus, minutes from the central bank's November 5 meeting revealed on Tuesday. In addition, the members noted that the Australian dollar remains higher than the bank would prefer.
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Australia Q3 Construction Work Done Rises 2.7%
The total value of construction work done in Australia climbed a seasonally adjusted 2.7 percent in the third quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Wednesday - standing at A$53.426 billion.
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Australia Building Permits Fall 1.8% In October
The total number of building permits issued in Australia eased a seasonally adjusted 1.8 percent in October compared to the previous month, the Australian Bureau of Statistics said on Monday, standing at 16,491.
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Australia October Retail Sales Rise 0.5%
The total value of retail sales in Australia added a seasonally adjusted 0.5 percent in October compared to the previous month, the Australian Bureau of Statistics said on Tuesday - coming in at A$22.284 billion.
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Australia Central Bank Keeps Cash Rate Unchanged At Record Low
The Reserve Bank of Australia on Tuesday decided to keep its benchmark cash rate unchanged at a record low of 2.5 percent for a fourth consecutive time while reiterating policymakers' concern that the Australian dollar still remained "uncomfortably high". The Australian dollar, while below its level earlier in the year, is still uncomfortably high, Governor Glenn Stevens said in a statement.
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Australia Service PMI 48.9 In November - AiG
An index measuring the service sector in Australia came in with a score of 48.9 in November, the latest survey from the Australia Industry Group revealed on Wednesday.
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Australia Q3 GDP Expands 0.6% On Quarter
Australia's gross domestic product was up a seasonally adjusted 0.6 percent in the third quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Wednesday.
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Australia October Trade Deficit A$529 Million
Australia posted a seasonally adjusted merchandise trade deficit of A$529 million in October, the Australian Bureau of Statistics said on Thursday.
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Australia Construction Index Expands In November - AiG
An index measuring the construction sector in Australia came in with a score of 55.2 in November, the latest survey from the Australia Industry Group revealed on Friday.
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Australia Home Loans Add 1.0% In October
The total number of owner-occupied home loans in Australia was up a seasonally adjusted 1.0 percent in October compared to the previous month, the Australian Bureau of Statistics said on Tuesday - standing at 52,305.
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Australia Business Confidence Survey At +5 - NAB
An index monitoring business confidence in Australia saw a score of +5 in November, the latest survey from National Australia Bank revealed on Tuesday.
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Australia Unemployment Rate 5.8% In November
Australia saw a seasonally adjusted unemployment rate of 5.8 percent in November, the Australian Bureau of Statistics said on Thursday.
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Australia New Motor Vehicles Rise 1.8% In November
The total number of new motor vehicle sales in Australia was up a seasonally adjusted 1.8 percent in November compared to the previous month, the Australian Bureau of Statistics said on Tuesday - standing at 94,978.
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Australian Budget Deficit Could Swell To A$47 Bln In 2013-14 - Government
The Australian government projects the country's budget deficit to widen to A$47 billion in 2013-14, more than previously forecast, as weaker economic prospects weighed on the country's public finances, according to the mid-year Economic and Fiscal Outlook report published by the Treasury on Tuesday. This is a substantial deterioration from the A$30.1 billion deficit forecast in August.
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AUD/USD weekly outlook: December 23 - 27
Monday, December 23
The U.S. is to produce government data on personal spending and expenditure, while the University of Michigan is to release revised data on consumer sentiment and inflation expectations.
Tuesday, December 24
The U.S. is to release data on durable goods orders, a leading indicator of production, as well as a report on new home sales.
Wednesday, December 25
Markets in Australia and the U.S. will remain closed for the Christmas Day holiday.
Thursday, December 26
Markets in Australia will remain closed in observance of Boxing Day.
Meanwhile, the U.S. is to release weekly data on initial jobless claims.
Friday, December 27
The U.S. is to round up the week with a report on crude oil supplies.
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Australia November Private Sector Credit +0.3%
Overall private sector credit in Australia was up a seasonally adjusted 0.3 percent in November compared to the previous month, the Reserve Bank of Australia said on Tuesday.
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Australia Service PMI Falls In December
An index measuring the services sector in Australia came in with a score of 46.1 in December, the latest survey results from the Australia Industry Group revealed on Monday - down from 48.9 in November.
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1 Attachment(s)
Australia's Trade Deficit Narrows As Imports Fall
Australia's external trade in goods and services resulted in a smaller-than-expected deficit in November amid a decline in imports, a report from the Australian Bureau of Statistics revealed Tuesday. The country's trade in goods and services showed a deficit of A$118 million in November, less than a revised A$358 million deficit in October and A$300 million shortfall expected.
Attachment 4621
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Australia Construction Index Sees Slower Expansion - AiG
An index measuring activity in Australia's construction sector saw a seasonally adjusted score of 50.8 in December, the latest survey from the Australia Industry Group revealed on Wednesday in its Performance of Construction Index - expanding for the third consecutive month.
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Australia Building Approvals Dip 1.5% In November
The total number of building approvals issued in Australia was down a seasonally adjusted 1.5 percent on month in November, the Australian Bureau of Statistics said on Thursday - coming in at 16,396.
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Australia Retail Sales Rise 0.7% In November
The total value of retail sales in Australia climbed a seasonally adjusted 0.7 percent in November compared to the previous month, the Australian Bureau of Statistics said on Thursday - coming in at A$22.458 billion.
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Australia Home Loans Rise 1.1% In November
The total number of owner-occupied home loans in Australia was up a seasonally adjusted 1.1 percent in November compared to the previous month, the Australian Bureau of Statistics said on Monday - standing at 52,912.
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Australia New Motor Vehicle Sales Rise 1.7%
The total number of new motor vehicle sales in Australia climbed a seasonally adjusted 1.7 percent in December compared to the previous month, the Australian Bureau of Statistics said on Wednesday - coming in at 97,014.
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Australia Consumer Confidence Eases In January - Westpac
An index measuring consumer confidence in Australia dipped 1.7 percent in January, the latest survey from Westpac revealed on Wednesday - falling to a score of 103.3.
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Australia Inflation Expectation 2.3% In January
Inflation is expected to rise 2.3 percent on year in January, the latest survey from the Melbourne Institute revealed on Thursday.
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Australia Business Conditions Index Climbs To 4 - NAB
An index measuring business conditions in Australia came in with a score of 4 in December, the latest survey from NAB revealed on Tuesday - touching a two-and-a-half-year high.
Attachment 5099
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Australia Final Demand PPI Up 0.2% In Q4
Final demand producer prices in Australia were up 0.2 percent in the fourth quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Friday.
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Australia Inflation Forecast +2.5% In January - TD Securities
Inflation in Australia is expected to rise 2.5 percent on year in January, the latest gauge measuring CPI from TD Securities revealed on Monday.
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RBA Keeps Cash Rate On Hold; Sees Period Of Interest Rate Stability
The Reserve Bank of Australia on Tuesday decided to retain its benchmark cash rate at a record low of 2.5 percent and observed that a period of stability in interest rates may be "the most prudent course" at present. The bank's monetary policy "is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target," Governor Glenn Stevens said.
Attachment 5246
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Australia December Trade Surplus A$468 Million
Australia posted a seasonally adjusted merchandise trade surplus of A$468 million in December, the Australian Bureau of Statistics said on Thursday.
Attachment 5290
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Australia Retail Sales Gain 0.5% In December
The total value of retail sales in Australia climbed a seasonally adjusted 0.5 percent on month in December, the Australian Bureau of Statistics said on Thursday - standing at A$22.581 billion.
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Australia Home Loans Fall 1.9% In December
The total number of home loans in Australia was down a seasonally adjusted 1.9 percent on month in December, the Australian Bureau of Statistics said on Tuesday - standing at 51,692.
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Australia Q4 House Prices Rise 3.4% On Quarter
House prices in Australia climbed 3.4 percent in the fourth quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Tuesday.
Attachment 5428
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Australia Unemployment Rate Rises To 6.0%
Australia saw a seasonally adjusted unemployment rate of 6.0 percent in January, the Australian Bureau of Statistics said on Thursday.
Attachment 5472
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Australia New Car Sales Drop 3.5% In January
The total number of new car sales in Australia was down a seasonally adjusted 3.5 percent on month in January, the Australian Bureau of Statistics said on Monday, coming in at 93,232.
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Aussie Pares Post-RBA Gain; BlackRock Sees Drop to 85 U.S. Cents
The Australian dollar touched a one-month high after the Reserve Bank said there were further signs easy policy and a weak currency were having an impact. Strength in the Aussie won’t be sustained, BlackRock Inc. said.
The Aussie rose against the yen after the Bank of Japan boosted lending programs. Australia’s currency held a climb against most major peers after minutes of the RBA’s last meeting signaled “a period of stability in interest rates.” Sustained declines in the Aussie would help the nation’s economy adjust to a drop in mining activity, the RBA said, avoiding comments about the currency being too high.
“There is less emphasis on the level of the currency assisting in the rebalancing of the Australian economy,” said Robert Rennie, the global head of currency and commodity strategy at Westpac Banking Corp. in Sydney. “If they wanted to, they could have added more concern that Australia needs a sustainably low level for the currency. The fact that they did not, should help the Aussie dollar pop.”
Australia’s dollar was at 90.43 U.S. cents as of 5:16 p.m. in Sydney, from 90.32 yesterday, and touched 90.81, the highest level since Jan. 13. It gained 0.8 percent to 92.81 yen and climbed 0.4 percent to NZ$1.0833.
The Aussie may climb to 92 U.S. cents, said Rennie.
The RBA will probably add 15 basis points to its 2.5 percent benchmark rate over 12 months, according to a Credit Suisse Group AG index based on swaps.
Attachment 5576
BlackRock Outlook
Australia’s three-year bond yield rose two basis points, or 0.02 percentage point, to 3.01 percent and the 10-year rate was at 4.18 percent from 4.16 yesterday.
“It’s premature to think that the RBA have gone to a neutral bias on the way to a tightening bias,” Stephen Miller, a Sydney-based fund manager at BlackRock, said at a briefing today before the minutes were released. “I do think that they would like to see the Aussie dollar lower, they expect to see the Aussie dollar lower, but that will come about in fits and starts and only gradually.”
Levels in the currency above 90 cents won’t be sustained, as the nation struggles to move away from its dependence on the mining sector, and it will probably drop to 85 cents or lower by year-end, Miller said.
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Australia Wages Rise 0.7% In Q4
Wage growth in Australia climbed a seasonally adjusted 0.7 percent in the fourth quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Wednesday.
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Australia Construction Work Rises 0.2% In Q4
The total value of construction work done in Australia was up a seasonally adjusted 0.2 percent on year in the fourth quarter of 2013, worth A$53.101 billion.
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Australia Private Capital Expenditure Falls 5.2% In Q4
Private capital expenditure in Australia was down a seasonally adjusted 5.2 percent in the fourth quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Thursday - coming in at A$38.291 billion.
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