Money Australia, New Zealand dollars gain respite as China calls for calm

00:26  05 july  2018
00:26  05 july  2018 Source:   reuters.com

Cyclist rides into oncoming traffic without helmet

  Cyclist rides into oncoming traffic without helmet A cyclist is lucky to be alive after casually riding into oncoming traffic - without even wearing a helmet - in the Northern Territory. The man appeared cool, calm and collected in surprising video footage posted on Facebook on Saturday.The rider is seen slowing peddling along a major Darwin road when there is a near-miss with a motorist who is forced to brake and swerve to avoid crashing into him.The speed limit on the highway is 80km/h.A number of cars are seen travelling along the Bagot Road.After the starling incident, the cyclist then continues riding and joins in the queue of vehicles.

The Australian Dollar got a boost Tuesday from upbeat economic data out of both Australia and China . We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets.

English ( Australia ). The Securities Daily newspaper called the slump in the A-share market an overreaction, saying that investors should have confidence in China 's domestic market and that the current macroeconomic situation was stable. Will The Dollar Hit New Highs Or Turn Lower In Q3?

$100 Australian dollar notes.© AAP Image/Dan Peled $100 Australian dollar notes. The Australian and New Zealand dollars gained a respite from recent selling pressure on Wednesday, as Beijing's efforts to stabilise its currency soothed sentiment just enough to spark profit-taking on U.S. dollar positions.

The Aussie dollar (AUD=D3) got an added lift from solid data on domestic retail sales and crawled up to $0.7403, moving away from an 18-month trough around $0.7311.

The kiwi dollar (NZD=D3) reached $0.6766, having touched its lowest since May 2016 at $0.6688 earlier in the week.

Dealers cautioned that some of the bounce was simply due to a lack of liquidity with the United States on holiday and the selling could easily resume on Thursday.

Australia, NZ dlrs ease as trade jitters return

  Australia, NZ dlrs ease as trade jitters return <p>The Australian and New Zealand dollars backtracked on Monday on reports the White House was considering new curbs on Chinese investment in the United States, another potential escalation in global trade tensions.</p>The kiwi dollar (NZD=D4) eased a touch to $0.6900, but again stayed well above last week's $0.6826 low.

English ( Australia ). The Securities Daily newspaper called the slump in the A-share market an overreaction, saying that investors should have confidence in China 's domestic market and that the current macroeconomic situation was stable. Will The Dollar Hit New Highs Or Turn Lower In Q3?

The Australian Dollar and its New Zealand counterpart did appreciate the most among the ten most-traded currencies on optimism on nations’ economies. The Aussie was at 92.62 U.S. cents at 6:54 a.m. London time, after climbing to 92.59 on Thursday, making it five straight days of gains .

Much depended on the course of the Chinese yuan which managed to eke out gains after the country's central bank assured markets it would keep the currency stable amid heightened trade tensions.

Investors are on tenterhooks ahead of the July 6 deadline when the U.S. administration is due to slap tariffs on $34 billion worth of Chinese goods.

Beijing has said it would retaliate with tariffs on U.S. products, an escalation that could endanger economic growth more broadly.

8@eight: Positive start to the quarter on cards for ASX

  8@eight: Positive start to the quarter on cards for ASX What happened overnight and what's ahead for the ASX. Australian shares look set for a positive start to the week and the new financial year following slight gains on Wall Street on Friday.

Australian shares edged lower on Monday as financials offset gains in real estate stocks on the first trading day of the country's new financial year. Financials tipped the benchmark lower, with Australia and New Zealand Banking falling 1.5 per cent.

“Intensifying trade frictions between China and the United States is a test that the Chinese economy inevitably had to Australia Building Permits (YoY) registered at 3.1%, below expectations (9.9%) in May. USD/JPY: 111 about to give out once again as dollar remains at top of the score-board.

Global tensions are ratcheting higher by the day, fuelled by the foolish policies of foolish leaders," warned Saxo Bank's chief economist Steen Jakobsen in a quarterly outlook.

"Tit-for-tat trade wars and agendas that pander only to self-interest are jeopardising the global economy."

Australia's exports account for fully 22 percent of annual economic output, making it very vulnerable to a global trade conflict. Data on Wednesday showed exports rose a healthy 4 percent in May, led by iron ore, coal and liquefied natural gas.

Local retailers also did a bit better with sales rising 0.4 percent in May, after an upwardly revised 0.5 percent gain in April. While growth is still modest by past standards, it does point to a pick up in consumption for the second quarter.

Developments in New Zealand were less favourable as the latest global auction for dairy saw prices fall at the fastest pace so far this year. Dairy is the country's single biggest goods export.

In fixed-income markets, Australian bond futures were near multi-month peaks amid the general mood of risk aversion. The three-year bond contract (YTTc1) added half a tick to 97.935, while the 10-year contract (YTCc1) firmed 3 ticks to 97.4050.

New Zealand government bond yields were down around 2 basis points across the curve (0#NZTSY=).

(Editing by Jacqueline Wong)

The Australian dollar's been hosed .
The Australian dollar suffered its third-largest decline of 2018 on Wednesday. A stronger US dollar and deterioration in investor sentiment -- both linked to escalating trade tensions between the US and China -- saw commodity prices tumble.Load Error

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