DIRS.INFO The most relevant business & tech news

☆ Oil up as supply tightness view offsets concerns from rate hikes
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose on Thursday as investors focused on expectations of tighter supplies from top oil producers, helping reverse earlier losses that were driven by worries that the hike in interest rates by the U.S. will hurt demand. The promise of economic stimulus in China, the world's second-biggest oil consumer, also lent support to the market. Brent crude futures were up 36 cents, or 0.4%, at $83.28 barrel by 0101 GMT, while U.S. West Texas Intermediate, or WTI, crude rose to $79.26, up 48 cents, or 0.6%. The European Central Bank is also expected to raise interest rates for the ninth time in a row on Thursday, which may not be the end to the policy tightening amid persistent inflation. Oil prices have rallied for four weeks, buoyed by signs of tighter supplies, largely linked to output cuts by Saudi Arabia and Russia, as well as Chinese authorities' pledges to shore up the world's second-biggest economy.

Persons: Cushing, Brent Organizations: TotalEnergies, Brent, U.S, West Texas, Federal Reserve, European Central Bank, ANZ Research, Commonwealth Bank of Australia Locations: Leuna, Germany, U.S, China, Saudi Arabia, Russia

Traders also awaited policy decisions from the European Central Bank (ECB) and Bank of Japan (BoJ) this week. FOCUS ON CENTRAL BANKSElsewhere, the ECB sets policy on Thursday. Again, a quarter point hike is widely expected, but building evidence of an economic slowdown has called into question the chances of another by year-end. The Australian dollar slid 0.4% to $0.6766 after slower-than-expected inflation data suggested the Reserve Bank of Australia (RBA) would forgo a rate hike on Aug. 1. Money markets are split between a 25 basis point (bp) or a 50 bp rate hike.

Persons: Jerome, Powell, Joseph Capurso, Capurso, Sean Callow, Sterling, Kevin Buckland, Joice Alves, Mark Potter Organizations: Federal, Traders, European Central Bank, Bank of Japan, U.S, Money, Commonwealth Bank of Australia, FOCUS, ECB, Australian, Reserve Bank of Australia, Westpac, U.S ., Bank of, Thomson Locations: LONDON, U.S, Beijing, China, Bank of England, Tokio, London

☆ Dollar near two-week high as Fed decision looms; Aussie falls
▼ + stars: | 2023-07-26 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The Australian dollar slid after benign inflation data suggested the Reserve Bank of Australia would forgo a rate hike next week. The euro slipped 0.16% to $1.1042, bringing it close to the previous session's low of $1.1036, a level last seen on July 12. In the latest data, U.S. consumer confidence increased to a two-year high in July amid a persistently tight labor market and receding inflation. Meanwhile, the European Central Bank sets policy on Thursday. The dollar added 0.12% to 141.15 yen on Wednesday, following a rebound from a multi-week low of 137.245 mid-month.

Persons: Jerome, Powell, Joseph Capurso, Sean Callow, Kevin Buckland, Muralikumar Organizations: Australian, Reserve Bank of Australia, U.S, Federal, U.S . Federal Reserve, European Central Bank, Commonwealth Bank of Australia, ECB, Bank of Japan, Westpac, Thomson Locations: TOKYO, Beijing, China

☆ Dollar near two-week high as Fed decision looms, Aussie falls
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: +3 min

The dollar hovered close to a two-week high versus the euro on Wednesday, while the yen consolidated near the middle of its range this month as traders awaited crucial policy decisions from the nations' central banks this week. The Australian dollar slid after benign inflation data suggested the Reserve Bank of Australia would forgo a rate hike next week. In the latest data, U.S. consumer confidence increased to a two-year high in July amid a persistently tight labor market and receding inflation. "If the ECB retain their hawkish bias, by no means guaranteed but more likely than the FOMC, euro is likely to track higher this week." The dollar added 0.12% to 141.15 yen on Wednesday, following a rebound from a multi-week low of 137.245 mid-month.

Persons: Jerome, Powell, Joseph Capurso, Sean Callow Organizations: Australian, Reserve Bank of Australia, U.S, Federal, U.S . Federal Reserve, European Central Bank, Commonwealth Bank of Australia, ECB, Bank of Japan, Westpac Locations: Beijing, China

The European common currency fell 0.4% to $1.1083 , skidding after a quiet Asian session on PMI data that showed euro zone business activity shrank much more than expected in July. The pound dropped after British activity data, but less dramatically and was last down 0.1% at $1.2839. The yen strengthened with the dollar down 0.47% at 141.2 yen , and the euro down 0.7% at 156.6 yen. The Swiss franc was steady at 0.8648 per dollar, and the dollar index was up 0.1% at 101.2. Reporting by Tom Westbrook; Editing by David Holmes and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Simon Harvey, Bob Savage, Tom Westbrook, David Holmes, Jacqueline Wong Organizations: SYDNEY, PMI, Reserve, European Central Bank, Bank of Japan, Investors, ECB, Fed, U.S, BNY Mellon, The Bank of Japan, Reuters, Commonwealth Bank of Australia, Swiss, Thomson Locations: LONDON, Europe, United States, Ukraine

☆ Dollar firms, yen wobbles as Japan inflation holds above BOJ target
▼ + stars: | 2023-07-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The data bolsters the chances the BOJ will revise up this year's inflation forecast in fresh projections due next week. Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA), said the market expectations for a BOJ policy tightening have ebbed and flowed over the past year. More than three-quarters of economists polled by Reuters expect the BOJ to hold policy steady including its yield control scheme. The yen has slipped about 1% against the dollar this week and is on course to snap its two-week winning run. The onshore yuan firmed against the dollar and was last at 7.1693 per dollar after the central bank set a much stronger guidance than expected.

Persons: Carol Kong, Kong, Kazuo Ueda, Scherrmann, Ankur Banerjee, Sam Holmes Organizations: Federal Reserve, Bank of Japan's, Commonwealth Bank of Australia, Reuters, Sterling, Fed, European Central Bank, Thomson Locations: SINGAPORE, Central, Europe, Japan, United State, U.S, Singapore

☆ Dollar firms, yen steady after Japan inflation holds above BOJ target
▼ + stars: | 2023-07-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The data bolsters the chances the BOJ will revise up this year's inflation forecast in fresh projections due next week. Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA), said the market expectations for a BOJ policy tightening have ebbed and flowed over the past year. "The window for the BOJ to tighten policy is narrowing," Kong said, adding that CBA's base case is for the BOJ to keep monetary policy unchanged this year. The yen has slipped about 1% against the dollar this week and is on course to snap its two-week winning run. Against a basket of currencies, the dollar rose 0.03% at 100.78, after gaining 0.5%.

Persons: Carol Kong, Kong, Kazuo Ueda, Ryan Brandham, Ankur Banerjee, Sam Holmes Organizations: Federal Reserve, Bank of Japan's, Commonwealth Bank of Australia, Validus Risk Management, Fed, European Central Bank, Thomson Locations: SINGAPORE, Central, Europe, Japan, United State, North America, U.S, Singapore

☆ Dollar firms, yen steady after Japan inflation holds above Bank of Japan's target
▼ + stars: | 2023-07-21 | by ( ) www.cnbc.com time to read: +3 min

Dollar bills and Japanese currency Yen lying on a table on August 03, 2016 in Berlin, Germany. The data bolsters the chances the BOJ will revise up this year's inflation forecast in fresh projections due next week. Carol Kong, a currency strategist at Commonwealth Bank of Australia, or CBA, said the market expectations for a BOJ policy tightening have ebbed and flowed over the past year. The yen has slipped about 1% against the dollar this week and is on course to snap its two-week winning run. Against a basket of currencies, the dollar rose 0.03% at 100.78, after gaining 0.5%.

Persons: Carol Kong, Kong, Kazuo Ueda, Ryan Brandham Organizations: Federal Reserve, Bank of Japan's, Commonwealth Bank of Australia, Validus Risk Management, Fed, European Central Bank Locations: Berlin, Germany, Central, Europe, Japan, United State, North America, U.S

☆ Sterling takes a beating, dollar gains ground
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: +3 min

U.S. dollar bills, British GDP and Euro currency bank notes are pictured on September 27, 2022 in Bath, England. Sterling was struggling to recover from a sharp fall on Thursday following U.K. inflation data that undershot market expectations, while the dollar regained its footing after a steep decline last week that analysts said was overblown. "The market I think is a bit more reasonable now with its expectations for rate hikes by the BoE. "We thought (the fall) was too strong, so it looks like the dollar has regained some of those losses," said Capurso. The Japanese yen rose 0.1% to 139.56 per dollar, while the Australian dollar was last 0.16% higher at $0.6782, ahead of the country's employment data later on Thursday.

Persons: Sterling, BoE, Joseph Capurso, Yannis Stournaras, Mel Siew Organizations: Bank of England, Traders, Commonwealth Bank of Australia, Central Bank, U.S, Muzinich Locations: Bath, England, Asia, China

☆ Aussie surges after strong jobs data; China's yuan jumps
▼ + stars: | 2023-07-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

"Ultimately, it's another strong set of employment figures which keeps the pressure on a data-dependant (Reserve Bank of Australia) to potentially hike rates in August." The offshore yuan last bought 7.1901 per dollar, while the onshore yuan strengthened past 7.18 per dollar to a session-high of 7.1620. RATES OUTLOOKIn the broader currency market, sterling was nursing deep losses after a sharp fall in the previous session following Britain's inflation data, which undershot market expectations. "The market I think is a bit more reasonable now with its expectations for rate hikes by the BoE. "We thought (the fall) was too strong, so it looks like the dollar has regained some of those losses," said CBA's Capurso.

Persons: David Gray, Matt Simpson, it's, Ken Cheung, BoE, Joseph Capurso, Yannis Stournaras, CBA's Capurso, Rae Wee, Sam Holmes, Jamie Freed Organizations: REUTERS, Australian, New Zealand, Bank of Australia, prudential, U.S ., People's Bank of, Mizuho Bank, Bank of England, Traders, Commonwealth Bank of Australia, Central Bank, U.S, Thomson Locations: Sydney, Australia, SINGAPORE, China, Asia

☆ Dollar teeters near one-year low; euro scales 17-month peak
▼ + stars: | 2023-07-18 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

FILE PHOTO: U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. “I think the dollar can stay under selling pressure,” said Carol Kong, a currency strategist at Commonwealth Bank of Australia. Money markets have largely priced in a 25-basis-point rate hike from the Fed at its policy meeting later this month, though see rates coming down as early as December. Conversely, investors expect the European Central Bank and the Bank of England to have further to go in their rate-hike cycle. Elsewhere, the Japanese yen rose marginally to 138.66 per dollar and remains more than 4% clear of a seven-month low it hit last month.

Persons: Rick Wilking, ”, Carol Kong, Ryota Abe, China’s, Khoon Goh Organizations: greenback, REUTERS, U.S, Federal Reserve, Commonwealth Bank of Australia, “, Fed, European Central Bank, Bank of England, Bank of Japan, SMBC, Reserve Bank of Australia’s, New Zealand, ANZ Locations: SINGAPORE, Westminster , Colorado, Asia

☆ Dollar teeters near one-year low while euro scales 17-month peak
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: +3 min

"I think the dollar can stay under selling pressure," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. Money markets have largely priced in a 25-basis-point rate hike from the Fed at its policy meeting later this month, though see rates coming down as early as December. Conversely, investors expect the European Central Bank and the Bank of England to have further to go in their rate-hike cycle. Elsewhere, the Japanese yen rose marginally to 138.66 per dollar and remains more than 4% clear of a seven-month low it hit last month. The Bank of Japan, or BOJ, holds its monetary policy meeting next week, with investors on the lookout for whether the central bank will start phasing out its ultra-dovish policy stance.

Persons: Carol Kong, Ryota Abe, China's, Khoon Goh Organizations: greenback, U.S, Federal Reserve, Commonwealth Bank of Australia, Fed, European Central Bank, Bank of England, Bank of Japan, SMBC, Reserve Bank of Australia's, New Zealand, ANZ Locations: Asia

Versus the yen the dollar fell 0.28% to 138.36 yen per dollar, after touching its lowest against the Japanese currency in two months on Friday. ,"The FX market is front running possible normalisation of Fed policy in 2024," said Chris Weston, head of research at broker Pepperstone in Melbourne. "The question then is whether the dollar sell-off has gone too far and we are at risk of mean reversion early this week." The Swedish and Norwegian crowns continued to climb after making gains of more than 5% on the dollar last week. The Swedish crown rose 0.2% to 10.2360 against the dollar, the Norwegian crown rose instead 0.4% to 10.0160.

Persons: Francesco Pesole, Chris Weston, Carol Kong, Sharp, Joice Alves, Tom Westbrook, Angus MacSwan, Andrew Heavens Organizations: ING, Federal Reserve, Fed, European Central Bank, Pepperstone, U.S, New Zealand, Commonwealth Bank of Australia, dovish Bank of, Thomson Locations: SYDNEY, U.S, Germany, Europe, Melbourne, dovish Bank of Japan, Norwegian, London, Sydney

On a year-on-year basis, GDP expanded 6.3% in the second quarter, accelerating from 4.5% in the first three months of the year, but the rate was well below the forecast for growth of 7.3%. "The data suggests that China's post-COVID boom is clearly over," said Carol Kong, economist at Commonwealth Bank of Australia in Sydney. The latest data raises the risk of China missing its modest 5% growth target for 2023, some economists say. Authorities are likely to roll out more stimulus steps including fiscal spending to fund big-ticket infrastructure projects, more support for consumers and private firms, and some property policy easing, policy insiders and economists said. So I think this does raise greater urgency for more policy support soon."

Persons: Carol Kong, Alvin Tan, Harry Murphy Cruise, Kevin Yao, Ellen Zhang, Joe Cash, Shri Navaratnam Organizations: National Bureau, Statistics, Reuters, Commonwealth Bank of Australia, Analysts, Authorities, Asia FX, RBC Capital Markets, stoke, Moody’s, Thomson Locations: BEIJING, Shanghai, Sydney, China, Asia, Singapore

☆ Instant View: China's Q2 GDP growth slows to 0.8% q/q, raises stimulus expectations
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +11 min

"Consumers are not spending, mainly driven by the bleak outlook for the property market. Disappointing retail numbers and property market sales show it doesn't seem that the boost from rate cuts is sufficient. ..the property market is beginning another slowdown - the government will have to come up with more stimulus for property." "Nonetheless, we think more stimulus is required to stabilise and restore confidence in the property market." ZHIWEI ZHANG, CHIEF ECONOMIST, PINPOINT ASSET MANAGEMENT, HONG KONG"Nominal GDP growth turns out to be lower than real GDP growth in Q2, the first time since comparable data are available in Q4 2016.

Persons: CHRISTOPHER WONG, LOUIS KUIJS, CAROL KONG, XING ZHAOPENG, KEN CHEUNG, ALVIN TAN, VISHNU VARATHAN, MARCO SUN, CHEN, TONY SYCAMORE, ZHIWEI ZHANG, JING LIU Organizations: Gross, National Bureau, Statistics, Shanghai, NBS, BANK OF, ANZ, MIZUHO BANK, OF, OF ASIA FX, RBC, MUFG BANK, IG, SYDNEY, Friday's, BANK OF SINGAPORE, HSBC, stoke, Authorities, Reuters, U.S, Thomson Locations: U.S, SINGAPORE, ASIA, HONG KONG, SYDNEY, CHINA, SHANGHAI, OF ASIA, China

☆ Dollar licks wounds as policy peak looms
▼ + stars: | 2023-07-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The euro , which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1223. The yen , also up 2.4% last week, held at 138.56 per dollar. The Australian and New Zealand dollars pulled back slightly, with the Aussie last at $0.6821 - off last week's peak of $0.6895 - and the kiwi down 0.2% at $0.6355 after hitting a five-month high of $0.6412 on Friday. The Swedish and Norwegian crowns made gains of more than 5% on the dollar last week, and have paused for breath. "By then other major central banks including the ECB will also likely have reached their peak policy rates ... interest rate dynamics may therefore swing back in favour of the dollar."

Persons: Carol Kong, Chris Weston, Sharp, Jane Foley, Tom Westbrook, Sam Holmes, Stephen Coates Organizations: SYDNEY, New Zealand, Commonwealth Bank of Australia, Federal Reserve, European Central Bank, Pepperstone, U.S, dovish Bank of Japan, ECB, Thomson Locations: Europe, Melbourne, Asia

"The data suggests that China's post-COVID boom is clearly over," said Carol Kong, economist at Commonwealth Bank of Australia in Sydney. Authorities are likely to roll out more stimulus steps including fiscal spending to fund big-ticket infrastructure projects, more support for consumers and private firms, and some property policy easing, policy insiders and economists said. Most analysts say policymakers are likely to dole out modest supportive measures, instead of embracing any aggressive stimulus due to limited room and worries of growing debt risks, analysts said. For June alone, China's retail sales grew 3.1%, slowing sharply from a 12.7% jump in May, the data showed. Industrial output growth unexpectedly quickened to 4.4% last month from 3.5% seen in May, but demand remains lukewarm amid a bumpy post-COVID economic recovery.

Persons: Carol Kong, Alvin Tan, Kevin Yao, Ellen Zhang, Joe Cash, Shri Navaratnam Organizations: National Bureau, Statistics, Commonwealth Bank of Australia, Authorities, Asia FX, RBC Capital Markets, stoke, Thomson Locations: BEIJING, Shanghai, Sydney, China, Asia, Singapore

☆ Australia No.3 bank clinches union deal for staff to work from home
▼ + stars: | 2023-07-14 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

SYDNEY, July 14 (Reuters) - National Australia Bank (NAB) (NAB.AX), the No.3 lender, reached a deal that lets employees work from home, a union said on Friday, one of the world's first to give private-sector staff legal protection for remote work. This week the Australian federal body that sets public sector wages also agreed to a union request for uncapped work from home days. Some of Australia's biggest companies, including NAB and larger rival Commonwealth Bank of Australia (CBA) (CBA.AX), have set minimum office attendance requirements. A CBA spokesperson said the bank respected its existing union agreement "and those matters that require consultation". 2 bank Westpac (WBC.AX) and the FSU are currently negotiating a new enterprise deal which includes the question of whether to allow work from home, the union said.

Persons: CBA's, Byron Kaye, Jamie Freed, Lincoln Organizations: SYDNEY, National Australia Bank, NAB, Finance Sector Union, FSU, Australia's, Commonwealth Bank of Australia, CBA, Fair, Commission, Westpac, Thomson

☆ Australia No.3 bank reaches union deal that lets staff work from home
▼ + stars: | 2023-07-14 | by ( Byron Kaye | ) www.reuters.com time to read: +2 min

SYDNEY, July 14 (Reuters) - National Australia Bank (NAB) (NAB.AX), the country's No.3 lender, reached a deal that lets employees work from home, a union representing staff said on Friday, one of the first in the world to give legal protection for remote work. The deal breaks new ground in a global standoff between private sector companies and their staff since employers started calling an end to home-working arrangements that were precipitated by COVID-19. Some of Australia's biggest companies, including NAB's larger rival Commonwealth Bank of Australia (CBA) (CBA.AX), have set minimum office attendance requirements but the country's capital city office vacancies remain around one-sixth, far higher than pre-pandemic levels. The deal comes after the FSU took CBA, the country's biggest bank which has 49,000 staff, to the industrial regulator this week over a directive to return to the office 50% of the time. In Australia, the federal government agency that sets public sector wages agreed this week to a union request for uncapped days spent working from home.

Persons: CBA's, Byron Kaye, Jamie Freed Organizations: SYDNEY, National Australia Bank, NAB, Finance Sector Union, FSU, Australia's, Commonwealth Bank of Australia, CBA, Fair, Commission, Thomson Locations: U.S, Australia

☆ Dollar at 15-month low as easing inflation firms rate peak bets
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: +3 min

The dollar index , which measures the U.S. currency against six major rivals, stood at 99.71 in early Asian hours, its lowest since April 2022. "Markets are generally pretty pleasant with the lower inflation data, because lower inflation together with the still resilient labour market supports the narrative of a soft landing in the U.S. economy," said Carol Kong, currency strategist at Commonwealth Bank Of Australia in Sydney. Ryan Brandham, head of global capital markets, North America, at Validus Risk Management, said the data on weekly jobless claims and producer prices are supportive of the soft landing. Although the recent trend of lower inflation may be encouraging, it probably won't be sufficient to change the committee's decision." The Japanese yen strengthened 0.23% to 137.71 per dollar and is on course for its best week against the dollar since January.

Persons: Carol Kong, Ryan Brandham, Christopher Waller, he's, Michele Bullock, bitcoin Organizations: US, Federal Reserve, Commonwealth Bank Of Australia, Risk, Fed Locations: U.S, Sydney, North America, Ethereum

☆ Dollar slips as Fed hike cycle nears end; focus on US inflation
▼ + stars: | 2023-07-11 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Several Fed officials said on Monday the central bank will likely need to raise interest rates further to bring down still-high inflation, but that the end to its current monetary policy tightening cycle is getting close. U.S. interest rate expectations have been a key driver of the dollar since the Fed began its tightening cycle last year. A survey from the New York Federal Reserve showed on Monday waning near-term inflation expectations among Americans, who said last month they were expecting the weakest near-term inflation gains in just over two years. The dollar/yen pair is particularly sensitive to U.S. yields as interest rates in Japan are anchored near zero. Elsewhere, the Australian dollar gained 0.16% to $0.6687, while the New Zealand dollar added 0.06% to $0.6216.

Persons: Sterling, Carol Kong, Rae Wee, Shri Navaratnam Organizations: Federal, Fed, Commonwealth Bank of Australia, New York Federal, Treasury, Australian, New Zealand, Macquarie, Thomson Locations: SINGAPORE, U.S, Asia, . U.S, Japan, China

☆ Dollar slips as Fed hike cycle nears end, focus on U.S. inflation
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: +3 min

Persons: Sterling, Carol Kong Organizations: Federal, Fed, Commonwealth Bank of Australia, New York Federal, Treasury, Australian, New Zealand, Macquarie Locations: U.S, Asia, . U.S, Japan, China

☆ Dollar steadies as US economy stays resilient; eyes on nonfarm payrolls
▼ + stars: | 2023-07-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The closely watched nonfarm payrolls report is due later on Friday, where expectations are for the U.S. economy to have added 225,000 jobs in June. The dollar index rose 0.03% to 103.12, while yields on U.S. Treasuries hovered near their recent peaks. The two-year Treasury yield , which typically reflects near-term interest rate expectations, steadied above 5%, after surging to a 16-year high of 5.12% on Thursday. That kept a closely watched two-to-10-year part of the U.S. Treasury yield curve , seen as an indicator of economic expectations, deeply inverted at a negative 96.90 bps. Elsewhere, the yen last bought 144.06 per dollar and was on track for a slight weekly gain, reversing three straight weeks of losses.

Persons: payrolls, Sterling, Carol Kong, tonight's, Rae Wee, Sam Holmes Organizations: Treasury, Fed, New Zealand, Bank of England, Commonwealth Bank of Australia, U.S, Thomson Locations: SINGAPORE, U.S, Asia, Treasuries

☆ Dollar steadies as U.S. economy stays resilient, eyes on nonfarm payrolls
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: +3 min

The closely watched nonfarm payrolls report is due later on Friday, where expectations are for the U.S. economy to have added 225,000 jobs in June. The dollar index rose 0.03% to 103.12, while yields on U.S. Treasuries hovered near their recent peaks. The two-year Treasury yield , which typically reflects near-term interest rate expectations, steadied above 5%, after surging to a 16-year high of 5.12% on Thursday. That kept a closely watched two-to-10-year part of the U.S. Treasury yield curve, seen as an indicator of economic expectations, deeply inverted at a negative 96.90 bps. Elsewhere, the yen last bought 144.06 per dollar and was on track for a slight weekly gain, reversing three straight weeks of losses.

Persons: payrolls, Sterling, Carol Kong, tonight's Organizations: Treasury, Fed, New Zealand, Bank of England, Commonwealth Bank of Australia, U.S Locations: U.S, Asia, Treasuries

☆ National Australia Bank to change home loan refinancing criteria
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +2 min

July 7 (Reuters) - National Australia Bank (NAB) (NAB.AX) on Friday said it would refresh its approach to like-for-like refinancing criteria to help customers who would otherwise fail to meet an industry standard that assesses their ability to repay loans. Last month, top lender Commonwealth Bank of Australia (CBA.AX) cut its buffer rate for some borrowers refinancing their existing home loan to 1% from the industry standard of 3%. After NAB, ANZ Group Holdings (ANZ.AX) is the only bank left among the top four to ease refinancing loans criteria for customers unable to meet APRA standard. NAB said the changes to its refinancing criteria will apply from July 21, but added that it will take a "case-by-case" approach when assessing appropriate serviceability. Reporting by Himanshi Akhand and Sameer Manekar in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Himanshi Akhand, Sameer Manekar, Varun Organizations: National Australia Bank, NAB, Reuters, The, Prudential Regulation Authority, APRA, Reserve Bank, Commonwealth Bank of Australia, Westpac Banking Corp, ANZ Group Holdings, ANZ, Thomson Locations: Bengaluru

Search resuls for: "Commonwealth Bank of Australia"

25 mentions found