Aussie buoyant near 25-yr peaks vs USD, bonds rise...

admin | 2008-07-02 23:15

* Australian dollar's offshore range roughly $0.9582/$0.9651.

* The Aussie advanced to close to 25-year highs against a U.S. dollar that had fallen on a report showing the U.S. private sector shed more jobs than expected in June, reducing the chances of a rate hike by the Federal Reserve.

* U.S. private-sector employers cut 79,000 jobs in June, the largest drop since November 2002, compared with a Reuters forecast which expected a 20,000 drop in non-farm jobs. [ID:nN02348677].

* But falling stock markets capped gains in the high-yielding Aussie. Stocks on Wall Street fell on the weak jobs report and led investors to stay clear of risky carry trades. The Aussie eased from a high of 102.40 yen to 101.80 yen .

* Australia's May trade deficit numbers will be released on Thursday. A Reuters poll showed market forecasts centred on a trade deficit of A$900 million ($865 million), seasonally adjusted. Estimates ranged from a deficit of A$1.89 billion to a surplus of A$1.5 billion.

* Australian bonds were firmer, taking their cue from a rise in U.S. Treasuries after the weak jobs data, with falling stocks also prompting a movement of funds into safe-haven assets.

Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.

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