Australia AiG Performance of Mfg Index fell from previous 63.1 to 58.3 in April

Australia Trade Min: Confident Australia has steel tariff exemption

Australian Trade Minister Ciobo has given his thoughts about the US steel and aluminum tariffs, confident that Australia has secured a permanent exemption. Key highlights Confident that Australia will be permanently exempt from US steel and aluminum tariffs. May 1st is the final exemption date ...

White House: amplifying the Middle Eastern risk on Iran nuclear program

It was revealed today by Israel that Iran has been making efforts all along to develop missile-deliverable nuclear weapons. UPDATE: US Official confirms authenticity information provided by Israel  Fundamental/political wrap: reflation trade under pressure, dollar goes bid ...

Chicago PMI: improved only 0.2 index points, below expectations – Nomura

Analysts at Nomura noted that the Chicago PMI improved only 0.2 index points to 57.6, below expectations (Nomura: 59.0, Consensus: 58.0), indicating continued business sector growth but at a slower pace.  Key Quotes: "April’s reading was 10.2 points below the December 2017 high o ...

NZ FinMin: 2018 budget will deliver a surplus

New Zealand's Finance Minister Robertson has announced that New Zealand's government budget for 2018 will be delivering a surplus for fiscal year 2018. Key highlights The government has reprioritized $700 million in funding over four years. $1.4 billion in funding has been freed up whe ...

PCE price index to pick up going forward – Nomura

Analysts at Nomura noted the key US data from overnight and the PCE price index was essentially unchanged (+0.032%) m-o-m in March, in line with the market consensus (0.0%). Key Quotes: "On a 12-month basis, PCE prices rose 2.0% (2.014%) in March, from 1.7% (1.731%) previously, matchin ...

Forex today: dollar higher, commodity complex looking vulnerable

Forex today was alarmed by headlines around Iran and the reflation trade was under scrutiny with poor European data that has been leading to growing doubt over the consensus of a synchronized global growth theme and the reflation trade is back under pressure. The dollar was higher and the commodit ...

New Zealand Building Permits s.a. (MoM): 14.7% (March) vs 5.7%

Looking beyond the RBA board meeting – Westpac

Analysts at Westpac explained that the RBA Board meeting should provide little surprises, with Tuesday’s speech by Governor Lowe and Friday’s Statement on Monetary Policy (SoMP) more important from a market perspective.  Key Quotes: "We expect a lower growth forecast in th ...

AUD/USD continuing to sink ahead of the RBA’s next rate statement

The Aussie racks up another day of losses as the US Dollar continues to climb. RBA rate meeting up next, dovish statement on the cards. The AUD/USD is trading near the bottom heading into Tuesday's markets, sticking to 0.7530. The Aussie geared up to begin staging a recovery on Friday. bu ...

Market wrap: dollar resumes rally – Westpac

Analysts at Westpac offered a market wrap. Key Quotes: "The US dollar resumed its recent rally, rising against all G10 currencies though without fresh yield support. " "European equities mostly followed Asia’s upbeat lead and US stocks opened higher but ground lower over th ...

Peru stocks higher at close of trade; S&P Lima General up 0.09%

Investing.com – Peru stocks were higher after the close on Monday, as gains in the S&P Lima Juniors, Food&Beverages and Non-Metal Minerals sectors led shares higher. At the close in Lima, the S&P Lima General gained 0.09%. The best performers of the session on the S&P Lima General ...

NZD/USD: propped by oil, but for how long, 0.6880 here we come?

NZD/USD: more downside to follow from here, eye son 0.6880? NZD/USD: reflations trade at risk, commodities under pressure. NZD/USD NZD/USD has been hurt on dollar strength as the reflation trade comes under pressure once again, and if was not for the price of oil on the Iran risk, the commodit ...

Wall Street indices end April virtually unchanged

The Core Personal Consumption Expenditures over to year to March came in line at 1.9% matching consensus, almost at 2% Fed's target. Higher US dollar and increasing tensions in the Middle-East are not helping stocks gaining traction amid stellar earnings season. The S&P 500 lost ...

FOMC watch: an upbeat statement on the cards? – ANZ

Analysts at ANZ explained that reflecting on the recent run of solid US data, they expect the FOMC statement on Wednesday to reflect continuing confidence in the Fed’s assessment of solid growth, full employment and normalising inflation.  Key Quotes: "Monetary policy has bee ...