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☆ ANZ's half-year profit tops estimates but outlook downbeat
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

Competition in retail banking is as intense as it has ever been, both in Australia and New Zealand," Chief Executive Officer Shayne Elliott said. 2 lender National Australia bank (NAB.AX) said its margins had peaked during the last half and warned of uncertainties amid a tougher credit environment ahead. ANZ's net interest margin, a key gauge of profitability, was at 1.75% at the end of March, compared with 1.58% last year. Margins at the Australian lender have swelled from a series of interest rate hikes by the central bank since May last year, but analysts have warned margins could plateau going forward. ($1 = 1.4945 Australian dollars)Reporting by Navya Mittal and Savyata Mishra in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Yen sinks to 15-year low vs euro, Aussie jumps as central banks diverge
▼ + stars: | 2023-05-02 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO (Reuters) - The yen continued its steep descent on Tuesday, reaching a 15-year low to the euro, as the implications of a steadfastly dovish Bank of Japan continued to reverberate days after the decision. FILE PHOTO: Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/IllustrationMeanwhile, the Aussie dollar leapt to a one-week high after the Reserve Bank of Australia (RBA) surprised with a rate hike and signalled more tightening may come. The central bank lifted the cash rate to 3.85% and said “some further” tightening may be required to ensure that inflation returns to target in a reasonable timeframe. The European Central Bank (ECB), meanwhile, is widely expected to raise rates for a seventh straight meeting the following day, with a 50 basis-point increase on the table.

☆ Dollar dips as job openings fall, Fed meeting in focus
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell Tuesday after data showed that U.S. job openings fell in March, a day before the Federal Reserve is expected to hike interest rates by an additional 25 basis points. The dollar index fell 0.22% to 101.93 after earlier reaching 102.40, the highest since April 11. The single currency has risen since mid-March on expectations that the interest rate differential with the U.S. dollar will continue to shrink. The Aussie dollar rose 0.51% to $0.6664, after earlier getting to $0.6717, the highest since April 21. The dollar fell 0.56% to 136.67 yen, after earlier hitting 137.78, the highest since March 8.

☆ Oil drops as economic growth concerns offset OPEC+ cuts
▼ + stars: | 2023-05-01 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

The Fed, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar rose against a basket of currencies on Monday, making oil more expensive for other currency holders. "The failure to reach more solid ground above $80.50 in Brent points to continued selling interest amid the well known growth/demand concerns," said Ole Hansen, head of commodity Strategy at Saxo Bank. "We believe the oil market will be in deficit through the remainder of the second quarter" following the OPEC+ cuts, said Baden Moore, head of commodity and carbon strategy at National Australia Bank. Reporting by Katya Golubkova; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Oil drops as US rate hike concern, weak China data offset OPEC+ cuts
▼ + stars: | 2023-05-01 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

The Fed, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar rose against a basket of currencies on Monday, making oil more expensive for other currency holders. Weak economic data from China also weighed. "We believe the oil market will be in deficit through the remainder of the second quarter" following the OPEC+ cuts, said NAB's Moore, who added that the bank expected the curbs plus higher demand to drive prices higher. Reporting by Katya Golubkova; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Oil prices drop as US rate hike fears, weak China data offset supply cuts
▼ + stars: | 2023-05-01 | by ( Katya Golubkova | ) www.reuters.com time to read: +3 min

The Fed is expected to increase interest rates by another 25 basis points this week. The U.S. central bank has raised its policy rate by 475 basis points since March of last year from the near-zero level to the current 4.75%-5.00% range. In the week ahead, the Reserve Bank of Australia is widely expected to extend a rate hike pause on Tuesday and the European Central Bank could surprise with an outsized half-point increase on Thursday. Brent crude has been tracking broader markets in recent sessions, with a slew of economic data creating more uncertainty about the outlook," ANZ Research said in a client note. Reporting by Katya Golubkova; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar edges lower; on track for second straight monthly loss
▼ + stars: | 2023-04-24 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The U.S. dollar dipped against most major currencies in early Asia trade, with the euro and sterling rising 0.05% to $1.0994 and 0.02% to $1.2447, respectively. "There's nothing, as yet, to hang your hat on rate cuts in the second half of the year." Elsewhere, the kiwi gained 0.07% to $0.6143, while the U.S. dollar index slipped 0.02% to 101.66. The index was eyeing a monthly loss of close to 0.9%, having fallen more than 2% in March. In Asia, the Bank of Japan's policy meeting this week takes centre stage, as it marks the first meeting to be chaired by new BOJ Governor Kazuo Ueda.

☆ Oil prices slide on uncertainty over global economic outlook, rate hikes
▼ + stars: | 2023-04-24 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, April 24 (Reuters) - Oil prices slipped on Monday as concerns about rising interest rates, the global economy and the outlook for fuel demand outweighed support from the prospect of tighter supplies on OPEC+ supply cuts. Weak U.S. economic data and disappointing corporate earnings from the tech sector sparked growth concerns and risk aversion among investors, CMC Markets analyst Tina Teng said. China's bumpy economic recovery post COVID-19 also clouded its oil demand outlook, although Chinese customs data showed on Friday that the world's top crude importer brought in record volumes in March. China's imports from top suppliers Russia and Saudi Arabia topped 2 million barrels per day (bpd) each. In the United States, energy firms last week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes Co (BKR.O) said.

☆ Recession fears set stocks on course for weekly drop
▼ + stars: | 2023-04-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Overnight figures showed more Americans filing claims for jobless benefits and manufacturing activity in the mid-Atlantic region slumping to its lowest level in nearly three years. Leading Economic Index, a gauge of future economic activity, also dropped to its lowest level since November 2020 overnight and it is signalling a recession starting mid-2023. Tesla (TSLA.O) shares tumbled 9.7% after the electric vehicle maker posted its lowest quarterly gross margin in two years. The yen hovered at 134.11 to the dollar, though the New Zealand dollar nursed losses at $0.6162 after Thursday's softer-than-expected inflation data. In the oil market, at $80.79 a barrel, Brent is also below its 50-day moving average for the first time since oil producers unexpectedly announced extra production cuts two weeks ago.

TOKYO, April 19 (Reuters) - Data showing British inflation stayed above 10% in March meant the pound climbed against the dollar while other currencies dipped, with the greenback underpinned by a tick-up in U.S. yields. Sterling was last 0.25% higher at $1.2454, heading back to last week's 10-month high, after data showed British consumer price inflation eased by less than expected in March to 10.1% from February's 10.4%. However, he added: "With the Fed expected to hike in May and the ECB to hike by more over the coming months, the positive impetus from this data for the pound will likely be contained." Expectations for higher official rates in a market relative to those elsewhere typically drag money market and government bond yields higher, attracting cash into a country while boosting its currency. "It's the volatility in the bond market that's driving the dollar, not the other way round."

☆ Dollar regains footing as yields rise, Fed outlook weighed
▼ + stars: | 2023-04-19 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The dollar index , which gauges the greenback against six major peers, ticked up 0.09% to 101.81 in Asian trading, following a 0.36% slide on Tuesday that reversed the 0.54% rally of the session before. The dollar-yen pair, which tends to track U.S. yields, added 0.19% to 134.35 yen per dollar , recovering from a 0.29% retreat on Tuesday. "It's the volatility in the bond market that's driving the dollar, not the other way round." The dollar index last year culminated a breathless 16-month surge by hitting a two-decade high of 114.78 at the end of September, which was followed by a steep, steady retreat until the start of February. However, bank earnings from recent days have proved robust overall, and bond yields have recovered strongly from multi-month lows reached last month.

☆ Dollar regains footing amid higher yields as Fed outlook weighed
▼ + stars: | 2023-04-19 | by ( ) www.cnbc.com time to read: +2 min

The dollar steadied on Wednesday after it seesawed with bond market volatility as investors scrutinized U.S. economic indicators, Federal Reserve commentary and corporate earnings for clues about the path for interest rates. The dollar index — which gauges the greenback against six major peers — ticked up 0.11% to 101.83 in Asian trading, following a 0.36% slide on Tuesday that reversed the 0.54% rally of the session before. U.S. two-year Treasury yields , which are extremely sensitive to Fed expectations, reached an almost one-month high of 4.231% overnight, and remained elevated in Tokyo trading on Wednesday. "It's the volatility in the bond market that's driving the dollar, not the other way round." The Aussie eased 0.06% to $0.67245 on Wednesday, following a 0.41% rally in the prior session.

☆ Dollar set for longest stretch of weekly losses since 2020
▼ + stars: | 2023-04-14 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

The dollar index , which measures the performance of the U.S. currency against six others, slid to a roughly one-year low of 100.78. This would mark a fifth straight weekly loss, the longest such stretch since July 2020. Out of the G10 currencies, investors hold the largest bearish position in the dollar against the euro. The New Zealand dollar rose 0.1% to $0.63035, after jumping 1.3% on Thursday. The Japanese yen rose marginally, leaving the dollar 0.2% down on the day at 132.27, while the offshore yuan rose 0.4% to 6.8463 per dollar.

☆ Dollar sinks to one-year low as cooling inflation raises Fed pause expectation
▼ + stars: | 2023-04-14 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

[1/2] Dollar banknotes are seen through a printed stock graph in this illustration taken February 7, 2018. The greenback took another leg down on Friday and the U.S dollar index , which measures the currency against six major peers, slid to a roughly one-year low of 100.78. Meanwhile, the euro rose to a fresh one-year top of $1.1075, pushing past its previous high from Thursday. The New Zealand dollar similarly gained 0.19% to $0.6309, after jumping 1.3% on Thursday. Elsewhere in Asia, Japan's yen rose marginally to 132.47 per dollar, while the offshore yuan gained more than 0.5% to 6.8327 per dollar.

☆ Dollar slides to one-year low as cooling inflation raises Fed pause expectation
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, 100 U.S. dollar notes and 100 yuan notes are displayed. The greenback took another leg down on Friday and the U.S dollar index , which measures the currency against six major peers, tumbled to a roughly one-year low of 100.78. Meanwhile, the euro rose to a fresh one-year top of $1.1075, pushing past Thursday's previous high. The New Zealand dollar similarly gained 0.21% to $0.6310, after jumping 1.3% on Thursday. Elsewhere in Asia, Japan's yen rose more than 0.1% to 132.39 per dollar, while the offshore yuan gained 0.3% to 6.8495 per dollar.

☆ Dollar eases as US inflation cools
▼ + stars: | 2023-04-13 | by ( Ankur Banerjee | ) www.reuters.com time to read: +2 min

SINGAPORE, April 13 (Reuters) - The dollar was on the back foot on Thursday after cooler-than-anticipated U.S. inflation data lifted risk sentiment and stoked expectations that the Federal Reserve will be done with its monetary tightening after hiking one last time next month. The dollar index , which measures the currency against six major peers, eased 0.03% to 101.44, hovering around a one week low of 101.40 after sinking 0.6% overnight. "While disinflation trends continue and broadened across headline, core and supercore measures, the CPI report is hardly an all clear on inflation," strategists at Saxo Markets said. Taylor Nugent, an economist at National Australia Bank, said the CPI data and the minutes provided ample fodder for those reading the Fed tea leaves, noting that inflation showed welcome, but not overwhelming progress. The Japanese yen weakened 0.04% to 133.20 per dollar, while sterling was last trading at $1.2486, up 0.04% on the day.

☆ Dollar eases as U.S. inflation cools
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: +2 min

An image of the U.S. dollar bill and a euro coinThe dollar was on the back foot on Thursday after cooler-than-anticipated U.S. inflation data lifted risk sentiment and stoked expectations that the Federal Reserve will be done with its monetary tightening after hiking one last time next month. The dollar index , which measures the currency against six major peers, eased 0.03% to 101.44, hovering around a one week low of 101.40 after sinking 0.6% overnight. "While disinflation trends continue and broadened across headline, core and supercore measures, the CPI report is hardly an all clear on inflation," strategists at Saxo Markets said. Taylor Nugent, an economist at National Australia Bank, said the CPI data and the minutes provided ample fodder for those reading the Fed tea leaves, noting that inflation showed welcome, but not overwhelming progress. The Japanese yen weakened 0.04% to 133.20 per dollar, while sterling was last trading at $1.2486, up 0.04% on the day.

☆ Oil falls as weak U.S. economic data stokes recession fears
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: +2 min

Oil fell on Thursday as weak U.S. economic data raised concerns over a potential global recession and demand reduction, but benchmark prices were headed for a weekly advance after OPEC+ announced further output cuts and U.S. oil stocks dropped. "Crude oil's rally paused as it battled the headwinds created by the weak economic data. The slew of soft economic data soured market sentiment, stoking fears of a recession and prompting investors to adopt risk aversion strategies. U.S. crude inventories fell 3.7 million barrels last week, about 1.5 million barrels more than forecast, government data showed. Gasoline and distillate stocks also fell more than expected, drawing down by 4.1 million barrels and 3.6 million barrels, respectively.

The slew of soft economic data has added to fears of an impending recession in the world's largest economy, putting a lid on risk appetite and sending traders in search of some safe haven assets. The U.S. dollar index was up 0.1% at 101.95, having slid to a two-month trough of 101.40 in the previous session. The Japanese yen also found some support from safe haven bids and was last roughly 0.2% higher at 131.01 per dollar. "Weak economic data continues to weigh in on investor sentiment, triggering a flight-to-safety bid," analysts at Westpac said in a note to clients. The soft data sent U.S. shares lower on Wednesday STX/ while Treasuries advanced, which saw the benchmark 10-year yield falling to its lowest since September .

☆ Dollar mired near two-month low; Kiwi gains on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The kiwi rallied 1% to touch a two-month high of $0.6383 after the decision. The dollar index , which measures the currency against six peers, eased to a fresh two-month low of 101.43, after dropping 0.5% overnight. Markets were pricing in a 43% chance of Fed not raising interest rates a day earlier. "And the Fed may have to perhaps do more and keep rates high for longer." The yield on 10-year Treasury notes was up 1.3 basis points to 3.350%, having slipped 9 basis points overnight.

☆ Dollar struggles on weak data; Kiwi surges on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The kiwi rallied 1% to touch a two-month high of $0.6383 after the decision. Elsewhere, data overnight showed U.S. job openings dropped to their lowest level in nearly two years in February, suggesting that labour market conditions were finally easing. The dollar index , which measures the currency against six peers, eased to a fresh two-month low of 101.43, after dropping 0.5% overnight. In the U.S. bond market, the two-year Treasury yield, which typically moves in step with interest rate expectations, was up 2.6 basis points at 3.860%, after sliding 14 basis points on Tuesday. The yield on 10-year Treasury notes was up 1.8 basis points to 3.355%, having slipped 9 basis points overnight.

☆ British pound and Japanese yen are the 'standout' weak currencies, says National Australia Bank
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBritish pound and Japanese yen are the 'standout' weak currencies, says National Australia BankRay Attrill of the bank says the British pound and Japanese yen will have the most upside potential compared with other Group of 10 currencies if the U.S. dollar continues to head south.

☆ Dollar struggles near 2-month low on weak data, focus on RBNZ
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was stuck near two-month lows on Wednesday as weak economic data bolstered views that the Federal Reserve is near the end of its monetary tightening cycle. The kiwi rose 0.08% to $0.632 ahead of a policy decision from Reserve Bank New Zealand later in the day. The central bank is expected to slow the pace of monetary tightening, raising rates by just 25 basis points. In the U.S. bond market, the two-year Treasury yield , which typically moves in step with interest rate expectations, was up 1.4 basis points at 3.848%, after sliding 14 basis points on Tuesday. The yield on 10-year Treasury notes was up 1.1 basis points to 3.348%, having slipped 9 basis points overnight.

☆ Oil jumps $5 per barrel
▼ + stars: | 2023-04-02 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

SINGAPORE, April 3 (Reuters) - Oil prices jumped about $5 a barrel on Monday's open, jolted by a surprise announcement by OPEC+ to cut production further in an effort to support market stability. Brent crude hit the highest in nearly a month at the open, trading at $84.95 a barrel by 0039 GMT, up $5.06, or 6.3%. U.S. West Texas Intermediate crude touched its highest since late January and was at $80.47 a barrel, up $4.80, or 6.3%. Goldman estimated the output reduction could provide a 7% boost to oil prices, contributing to higher Saudi and OPEC+ oil revenues. Analysts at the National Australia Bank said the OPEC+ production cuts and demand recovery from top crude importer China could drive oil prices above $100 a barrel through third quarter.

☆ National Australia Bank lowers peak rate call for Australia to 3.85%, from 4.1%
▼ + stars: | 2023-03-30 | by ( Stella Qiu | ) www.reuters.com time to read: 1 min

SYDNEY, March 30 (Reuters) - National Australia Bank said on Thursday it expects Australian interest rates to peak at 3.85%, down from a previous estimate of 4.1%. NAB added it still expects the Reserve Bank of Australia to raise its official cash rate by 25 basis points in April for a final time, beginning rate cuts in the first half of 2024. "We continue to see rate cuts in H1 2024 bringing the cash rate back to 3.1% as the economy slows and unemployment rises," the bank's chief economist Alan Oster said in a statement. Fellow Australian bank Westpac also cut its peak rate forecast to 3.85% earlier this month. Reporting by Stella Qiu in Sydney Editing by Alasdair PalOur Standards: The Thomson Reuters Trust Principles.

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