Tag Archives: HSBC

AUD up nearly a cent in late trade

The Australian dollar is up by over $0.0080 in later trade. The 1% rise comes after the RBA kept interest rates on hold. Whilst the Reserve Bank indicated stability in the AUD the general sentiment is that interest rates will rise by the end of the year.

The ABS also reported a continuing trade surplus for Australia. Whilst the surplus was down, record trade with China ensured it stayed in positive territory.

The higher dollar should lead to lower prices for imports including EVA jigsaw mats such as the ones that Ezymats imports.

AUD Report

 With no significant data releases domestically this week  the AUD continues to be stuck in its 50 point weekly trading range against most of the majors.

Today saw the Chinese HSBC Manufacturing numbers at 11.45am for the which were positive.  That and the negative data out of the US pushed the dollar higher before it came down again. It is expected to remain stable in the short-term.