The Australian dollar traded steadily on Friday, after sustaining sharp losses a day earlier. The RBA lowered its forecast for GDP of 2-3% in the year through June 2015, down from 2.25-3.25% in the May projection. The RBA added that the unemployment rate was likely to “remain elevated for some time”. The RBA statement also took note of the high value of the Australian dollar, which has gained about 6% since February.
The AUD rose another 0.4% on Tuesday. Yesterday’s data releases showed that the number of jobs fell for the first time in five months in May and that Business Confidence was unchanged for the month. Surveys showed that conditions are mixed across all industries with NAB forecasting higher unemployment by late 2014.
The effect on the price of EVA interlocking rubber gym mats should be positive. Especially with talk to the AUD reaching parity with the USD. Ezymats is a leading supplier of EVA interlocking foam rubber jigsaw mats. They are also know as gym mats, gymnastics mats, judo mats, crash mats, module mats etc. They have a variety of uses includes martial art, gymnastics, children’s play areas, gyms and other uses.
The Queen’s Birthday public holiday for the eastern states meant no action in the Australian markets, the ASX was closed.
Overnight US stocks rallied making it the third close at a record high. The S&P 500 closed up 0.09 percent with better than expected jobs creation last week and the ECB lowering interest rates helping the index stay at record levels.
Oil rallied on the back of strong demand from China and Japan as expectations are forecasting for a higher demand in energy. WTI closed at US$104.41 a barrel, its highest close for the benchmark since March.
Gold finished slightly higher as there were no major new economic data for investors. We are now seeing some safe-haven buying due to a lower confidence level in Europe.
The price of EVA interlocking jigsaw rubber gym mats remains stable. Ezymats is the leading supplier of jigsaw mats in Australia. They now have 20mm, 30mm and 40mm interlocking jigsaw rubber gym mats available.
The AUD continued to strengthen overnight despite the disappointing April trade balance figure. Imports exceeded exports for the first time since November 2013 and gave further cause for concern of China’s slowdown.
The Aussie dropped 30 pts on the back of this figure but then saw an 80 pt rise overnight as US unemployment claims rose by 8,000 from last week to coming in at 312k for the week ending 31/5 (a rise of 8k from last week) and causing concern before the US jobs report later tonight.
Technical levels show the AUD’s quick rise from the recent lows may have the AUD heavily overbought so tread with caution when deciding to hold off on buying as heavy rises often mean heavy corrections.
The strong dollar should have a positive impact on the price of EVA interlocking jigsaw rubber gym mats. Ezymats is a leading supplier of EVA interlocking jigsaw rubber gym mats in Australia and globally.
Mats now available include vinyl mats, rubber mats and EVA mats. The mats can be used for a range of activities and applications including, gym mats, impact mats, gymnastics mats, judo mats, wrestling mats, grappling mats, BJJ mats, karate mats, taekwondo mats, children’s play mats.
Contact Ezymats for all you safety mat requirements.