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☆ Aussie regulator takes Qantas to court for selling cancelled flights' tickets
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Aug 31 (Reuters) - Australian competition regulator has taken Qantas Airways (QAN.AX) to court, alleging the flagship carrier in mid-2022 kept selling tickets for more than 8,000 cancelled flights for an average of over two weeks after the flights were called off. "We have commenced these proceedings alleging that Qantas continued selling tickets for thousands of cancelled flights, likely affecting the travel plans of tens of thousands of people," ACCC Chair Gina Cass-Gottlieb said. "However, this case does not involve any alleged breach in relation to the actual cancellation of flights, but rather relates to Qantas' conduct after it had cancelled the flights." ACCC said it would pursue orders including penalties, injunctions, declarations, and costs against the airline for its conduct after flight cancellations. Reporting by Poonam Behura in Bengaluru; Editing by Shailesh Kuber and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Gina Cass, Gottlieb, Poonam, Shailesh Kuber Organizations: Qantas Airways, Qantas, Australian Competition, Consumer Commission, Airlines, ACCC, Qantas Group, Jetstar, Thomson Locations: Australian, Bengaluru

☆ Euro jumps on inflation while dollar braces for jobs
▼ + stars: | 2023-08-31 | by ( ) www.cnbc.com time to read: +3 min

The lettering Euro can be seen on a 1 euro coin, taken on 10 August 2023, in Baden-Württemberg, Rottweil. The euro stood at a 15-year high on the yen on Thursday on signs of sticky inflation in Europe, while the dollar was squeezed ahead of consumption, inflation and jobs data that could add to evidence of a softening economy. Annual inflation in Germany and Spain barely slowed in August, against expectations, data on Wednesday showed. Europe-wide inflation data is also due later on Thursday, as is U.S. personal consumption data and core PCE — which is the Federal Reserve's favored inflation gauge. It has been steadying with traders wary of the risk of official intervention, and was last at 146.07 per dollar.

Persons: Sterling Organizations: Traders, China PMI, Federal, Commerce Department, ANZ Bank ., New Zealand, Aussie Locations: Baden, Europe, Germany, Spain, Asia, China, Australia, New Zealand, Japan, United States

☆ Euro steadies as markets raise bets of ECB hike after inflation data
▼ + stars: | 2023-08-30 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

[1/2] Euro and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. Money markets raised their bets on a September rate hike from the ECB, pricing in a 60% chance of a 25 basis-point move. "One key input to arrive at a final assessment is the inflation data this week," he added. The dollar index - which measures the currency against six major peers including the yen and euro - slipped 0.1% to 103.47. INTERVENTION TERRITORYThe dollar rose 0.35% to 146.38 yen .

Persons: Dado Ruvic, Benjamin Schroeder, pare, Charu, Jerome Powell, Naoki Tamura, bitcoin, cryptocurrency, Joice Alves, Kevin Buckland, Tom Westbrook, Miral Fahmy, Alex Richardson Organizations: U.S, REUTERS, European Central Bank, Federal, Reuters, Money, ECB, ING, Fed, Saxo . Money, Bank of Japan, Reserve Bank of Australia, People's Bank of, Thomson Locations: Germany, Spain, North Rhine, Westphalia, NRW, People's Bank of China, London, Tokyo

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON/TOKYO, Aug 30 (Reuters) - The euro eased against the dollar on Wednesday as investors looked to more labour market data in the U.S. and inflation data in the euro zone to provide clues on the path for central banks policies. "One key input to arrive at a final assessment is the inflation data this week," he added. The euro eased 0.2% to $1.0856. The dollar index - which measures the currency against six major peers including the yen and euro - edged 0.1% higher at 103.67. INTERVENTION TERRITORYThe dollar rose 0.38% to 146.43 yen .

Persons: Dado Ruvic, Benjamin Schroeder, pare, Matt Simpson, Jerome Powell, Naoki Tamura, bitcoin, cryptocurrency, Joice Alves, Kevin Buckland, Tom Westbrook, Miral Organizations: REUTERS, Reuters, Money, ECB, ING, Index, Fed, Bank of Japan, Reserve Bank of Australia, People's Bank of, Thomson Locations: TOKYO, U.S, Spain, Germany, Westphalia, NRW, People's Bank of China, London, Tokyo

☆ Asian shares hit two-week high on prospects for Fed pause
▼ + stars: | 2023-08-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

The index though is down about 6% so far in August and set for its worst monthly performance since February. The Eurostoxx 50 futures rose 0.39%, German DAX futures were up 0.29% and FTSE futures were up 0.31%. Overnight, Wall Street ended sharply higher, while Treasury yields slid to three-week lows after data showed U.S. job openings dropped to the lowest in nearly 2-1/2 years in July, signalling easing labour market pressures. With the Fed highlighting that the interest rate path will be heavily dependent on data, traders are tweaking their bets based on the latest indicators. Traders will be closely watching cocoa prices on Wednesday after the London cocoa futures on ICE rose to a 46-year high on Tuesday, buoyed by tightening supplies.

Persons: Issei Kato, DAX, Powell, Tina Teng, Carlos Casanova, Gina Raimondo, Brent, bitcoin, Ankur Banerjee, Edmund Klamann Organizations: REUTERS, Rights, Federal Reserve, Futures, Treasury, CMC Markets, Investors, PMI, . Commerce, Aussie, Traders, Thomson Locations: Tokyo, Japan, Asia, Pacific, Europe, Germany, Spain, China, Wednesday's, UBP, U.S

☆ Dollar finds feet as investors await further clues on Fed path
▼ + stars: | 2023-08-30 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO, Aug 30 (Reuters) - The U.S. dollar on Wednesday clawed back some of the previous session's sharp declines as investors looked ahead to more labour market data for clues on the path for Federal Reserve policy. The dollar index - which measures the currency against six major peers including the yen and euro - added 0.09% to 103.64 as of the Asian afternoon. On Tuesday, it had surged to a 10-month peak at 147.375 leading into the JOLTS report, only to end the day with a 0.45% decline. The Aussie dollar dipped as much as 0.46% after the data but eventually shook the data off to trade little changed at $0.64775. The Chinese yuan weakened slightly in offshore trading to 7.3002 per dollar, but remained well above the Aug. 17 low of 7.3490.

Persons: Dado Ruvic, pare, Matt Simpson, Simpson, Naoki Tamura, Jerome Powell, bitcoin, cryptocurrency, we're, Chris Weston, Kevin Buckland, Tom Westbrook, Lincoln, Sam Holmes Organizations: REUTERS, Rights, U.S, Federal Reserve, U.S ., Treasury, Bank of Japan, Money, Fed, Reserve Bank of Australia, People's Bank of, Thomson Locations: People's Bank of China

☆ Morning Bid: US jobs data and China bring cheer, for now
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

The Fed has made it clear it will be data-dependent as it charts its monetary policy path. European markets look set for a higher open, with the pan-European STOXX 600 (.STOXX) at two-week highs. Inflation reports from Germany and Spain later in the day will provide further clues on price pressures in the region ahead of the euro zone inflation report on Thursday. Traders have raised their bets on a 25-basis-point European Central Bank rate hike in September, a slight shift from expectations of a pause following a sharper-than-expected contraction in euro zone business activity. Australia's inflation slowed to a 17-month low in July, signalling that interest rates might not need to rise again.

Persons: Ankur Banerjee, Biden, Edmund Klamann Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, Ankur, Federal, Federal Reserve, Traders, Bank, U.S, Bristol Myers Squibb, Novo Nordisk, Pfizer, ICE, Supplies, Reuters, Thomson Locations: Frankfurt, Silicon, Germany, U.S, Europe, Spain, Asia, West Africa, Singapore

☆ Dollar licks wounds after jobs shock, Aussie dips as inflation cools
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: +3 min

Bank notes of the Australian Dollar lying on a table in Hamburg, Germany, 19 February 2016. The Japanese yen hovered around 146 per dollar following its overnight rebound from a 10-month trough at 147.375, as a drop in Treasury yields took away support for the U.S. currency. The Australian dollar dropped from near a two-week peak after inflation there cooled by more than economists predicted in July. The Aussie dollar dipped as much as 0.46% after the data before last trading 0.17% lower at $0.64685. The Chinese yuan weakened slightly in offshore markets to 7.2929 per dollar, but remained well above the Aug. 17 low of 7.3490 per dollar.

Persons: China's, Cryptocurrency bitcoin, Matt Simpson, Simpson, Jerome Powell Organizations: U.S, U.S ., Treasury, Money, Fed, Reserve Bank, People's Bank of Locations: Hamburg, Germany, U.S, Tuesday's, People's Bank of China

☆ Bonds rally, stocks drift as China boost fades
▼ + stars: | 2023-08-29 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The yen remained an outlier and within a whisker of Monday's 10-month low, which has traders on edge about the risk of intervention. Over the weekend, China announced a halving in stock-trading stamp duties and had on Friday approved some guidelines for affordable housing. Hong Kong's Hang Seng (.HSI) closed less than 1% higher on Monday and was 1% firmer in early trade on Tuesday. On Tuesday in New Zealand shares in Tourism Holdings (THL.NZ), the world's largest campervan rental company, surged 13% after the company reported a record underlying profit. On Tuesday, U.S. job openings figures are due, ahead of Friday's broader labour market data and the ISM manufacturing survey.

Persons: Damian Rooney, Kazuo Ueda, Goldman Sachs, Ryan Felsman, Jason Xue, Sam Holmes Organizations: Nikkei, Argonaut Securities, HK, Bank of Japan, Tourism Holdings, New, Commonwealth Bank of Australia, Thomson Locations: SINGAPORE, U.S, Asia, Pacific, Japan, Hong Kong, China, Perth, New Zealand, Sydney, Shanghai

☆ Aussie lender NAB to cut 10% jobs in markets division, Australian Financial Review reports
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +1 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsAug 28 (Reuters) - National Australia Bank (NAB.AX) is preparing to cut around 60 jobs of the 600-staff at its markets division and undertake a broad restructuring exercise across its seven business, the Australian Financial Review said on early on Monday citing sources. The country's second-biggest bank would begin the layoffs as early as this week but is yet to announce the changes internally, AFR said. Layoffs at NAB would include capital markets types working within its corporate and institutional banking unit, where its markets business sits with a team of about 600. Reporting by Poonam Behura in Bengaluru; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Munoz, AFR, Poonam, Alison Williams Organizations: National, REUTERS, National Australia Bank, Australian Financial, Commonwealth Bank of Australia, Westpac Banking Corp, NAB, Thomson Locations: Sydney, Australia, Bengaluru

☆ Soft data drags back dollar ahead of Jackson Hole
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: +2 min

The dollar nursed a sharp pullback against Asian currencies on Thursday, after softer-than-expected global economic data muddied the interest rate outlook and pushed down U.S. yields ahead of the Federal Reserve's Jackson Hole symposium. The New Zealand dollar also leapt overnight, as did the yen , which crossed below 145 to the dollar for the first time in more than a week tracking a sharp move lower in U.S. Treasury yields. The dollar index , which measures the greenback against a basket of six major currencies remains higher for the month, but dipped about 0.2% overnight. PMI data was soft globally, which tempered gains for the euro and sent sterling on a wide-ranging round trip before it steadied around $1.2717. China's yuan, which has been supported by state-bank buying in recent sessions, was steady at 7.2864 in thin offshore trade.

Persons: Jackson, PMIs, Carol Kong, Jerome Powell's, Steve Englander Organizations: Federal, Commonwealth Bank of Australia, New Zealand, Treasury, PMI Locations: U.S, Asia, China

☆ Aussie corporate regulator alleges IAG units misled home insurance customers
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

Small toy figures are seen in front of displayed IAG (Insurance Australia Group) logo in this illustration taken, November 8, 2021. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsSummaryCompanies IMA and IAL misled customers about loyalty discountsIAG says units intend to defend the proceedingsRegulator is seeking declarations of contravention, pecuniary penalties and adverse publicity ordersAug 25 (Reuters) - Australia's corporate regulator said on Friday it filed a lawsuit against two units of Insurance Australia Group (IAG) (IAG.AX), alleging they misled customers about loyalty discounts available for certain types of home insurance policies. The Australian Securities & Investments Commission (ASIC) has commenced civil proceedings against Insurance Australia Ltd (IAL) and Insurance Manufacturers of Australia (IMA) in the Federal Court, alleging loyal customers may have had their premiums increased before the promised discounts were applied. "IMA and IAL do not agree that they have misled customers and intend to defend the proceedings further," IAG said in a separate release. The regulator is seeking declarations of contravention, pecuniary penalties and adverse publicity orders against IAL and IMA from the court.

Persons: Dado Ruvic, IAG, Sarah Court, IAL, Nausheen, Krishna Chandra Eluri Organizations: Insurance, REUTERS, Insurance Australia Group, Australian Securities & Investments Commission, Insurance Australia Ltd, Insurance Manufacturers of Australia, Federal, IMA, IAL, Thomson Locations: Bengaluru

☆ In the Heart of the Outback, Safeguarding a Sacred Land
▼ + stars: | 2023-08-23 | by ( Anthony Ham | Photographs | ) www.nytimes.com time to read: +1 min

Close to the geographical heart of Australia, Alice Springs feels like a true desert town. Pink-chested galahs wheel and screech overhead, and, lining the streets, gum trees give off the faintest smell of eucalyptus. Even by Aussie standards, Alice Springs is casual: People dress down, and many drive well-equipped four-wheel-drive trucks that are as much a part of the uniform as T-shirts, shorts and Akubra hats. By day, I visited Alice Springs Desert Park, with its extraordinary desert wildlife, and the city’s Aboriginal art galleries. It was a reminder that Alice Springs — or Mparntwe to its traditional owners, the Arrernte people — is largely an Aboriginal town.

Persons: Alice Springs, Alice, Springs Organizations: Hilton, Art, Papunya Locations: Australia, Papunya Tula, Central

☆ Dollar eases before Jackson Hole, yen rises amid intervention jitters
▼ + stars: | 2023-08-22 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. China's yuan briefly popped to a one-week high as the central bank again tried to bolster the currency by setting a much stronger-than-anticipated daily mid-point, but those gains fizzled out quickly. Money markets currently lay a bit less than 50/50 odds for another 25 basis point Fed hike by November, before the central bank shifts to rate cuts next year. Traders are wary of intervention after levels around 146 spurred the first yen buying by Japanese officials in a generation last September. On Thursday, the dollar reached 146.565 yen for the first time since Nov. 10.

Persons: Dado Ruvic, Jerome Powell, Kazuo Ueda, Richard Franulovich, Powell, Kristina Clifton, Kevin Buckland, Simon Cameron, Moore Organizations: REUTERS, Rights, U.S, Federal, Bank of Japan, U.S ., Westpac, Treasury, Traders, Sterling, Commonwealth Bank of Australia, Thomson Locations: Bank, Jackson Hole , Wyoming, China's, Beijing, China

☆ Dollar hovers near highs as U.S. yields surge; PBOC bolsters yuan
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, 100 U.S. dollar notes and 100 yuan notes are displayed. Money markets currently lay a bit less than 50/50 odds for another 25 basis point Fed hike by November, before the central bank shifts to rate cuts next year. The offshore yuan was little changed at 7.2872, after firming about 0.1% after the fixing. The Australian dollar , which often trades as a proxy to China, was also little changed at $0.6413 after initially strengthening slightly following the fixing. The Aussie has grinded higher in recent sessions after dropping to a 9 1/2-month low of $0.6365 on Thursday.

Persons: Richard Franulovich, Jerome Powell's, Franulovich, Powell, Kristina Clifton Organizations: U.S, U.S ., Westpac, Treasury, Commonwealth Bank of Australia Locations: Jackson Hole , Wyoming, China's, Beijing, China

☆ Newmont gets Aussie regulatory nod for $16.8 bln Newcrest deal
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-A small toy figure and gold imitation are seen in front of the Newmont logo in this illustration taken November 19, 2021. If the deal goes through, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$29.27 a share. Newcrest in mid-May said it would back the takeover offer in what would be the third-largest deal ever involving an Australian company. Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year, it said. The Australian Competition and Consumer Commission and Newcrest did not immediately respond to Reuters requests for comment.

Persons: Dado Ruvic, Newmont, Newcrest, Harish Sridharan, Shailesh Organizations: REUTERS, Newmont Corp, Newcrest, Foreign Investment, Board, Australian Competition, Consumer Commission, Thomson Locations: Japan, Philippines, Papua New Guinea, Bengaluru

Coles and Woolworths sell two-thirds of Australian groceries by dollar value, and are seen as bellwethers of consumer behaviour. Full-year NPAT of Woolworths is seen rising to A$1.74 billion from A$1.51 billion, and for Wesfarmers to A$2.47 billion from A$2.35 billion last year. Woolworths and Wesfarmers report annual results on Aug. 23 and Aug. 25, respectively. They added that rising operating costs are a headwind for retail companies, but focus will be on how these costs are managed. Reporting by Himanshi Akhand and John Biju in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Munoz, Jefferies, Coles, Tim Waterer, Himanshi Akhand, John Biju, Rashmi Organizations: REUTERS, Coles Group, Woolworths, KCM Trade, Kmart, Coles, UBS, Thomson Locations: Sydney's, Australia, Bengaluru

☆ Dollar gains intact as China disappoints, traders eye Jackson Hole
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: +3 min

The yuan slid to the weak side of 7.3 per dollar despite a firm fixing of its trading range by the central bank. The Antipodean currencies often function as a liquid proxy for the yuan owing to the region's exports to China. Like the yuan, the yen is also on intervention-watch, having fallen to levels around which authorities stepped in last year. The Swiss franc was just above a six-week low made last week at 0.8817 per dollar. "Two things that may come across are: decades of ultra-low rates backed by ultra-low inflation may be over," said Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore.

Persons: Jackson, Sterling, Jerome Powell, Vishnu Varathan Organizations: Federal, Treasury, New Zealand, Australian, Commonwealth Bank of Australia, Swiss, Mizuho Bank Locations: China, London, New York, Wyoming, Singapore

☆ Dollar retreats from 2-month high, yuan turns higher
▼ + stars: | 2023-08-21 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

The dollar index , which measures the currency against six other majors, was last down 0.2% at 103.18, but still close to Friday's two-month high of 103.68. Ten-year yields rose 14 basis points last week and touched a 10-month high of 4.328%, within a whisker of a 15-year high. The offshore yuan had fallen to the weak side of 7.3 per dollar before firming after Reuters reported that state-owned Chinese banks were seen actively mopping up offshore yuan liquidity, a move that raised the cost of shorting the currency. China's currency reversed course in the offshore market and was last up 0.2% to 7.2909 per dollar. Sterling rose slightly to $1.2756 and the Swiss franc was just above a six-week low hit last week at 0.8793 per dollar.

Persons: Dado Ruvic, Jackson, Michael Brown, I'm, Brown, Jerome Powell, Vishnu Varathan, Adam Cole, Sterling, Samuel Indyk, Tom Westbrook, Kirsten Donovan, Mark Potter Organizations: REUTERS, Federal, Trader, Wall, Treasury, Mizuho Bank, New Zealand, Authorities, RBC Capital Markets, Reuters, Swiss, Thomson Locations: Europe, Wyoming, Singapore, China, London

☆ From cocktails to free rides, World Cup co-hosts fight to woo back tourists
▼ + stars: | 2023-08-19 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +6 min

In 2022, there were only about 1.4 million visitors, according to data provided by the government, still considerably below pre-pandemic levels. That’s why events like the Women’s World Cup are so important. Cities like Wellington and Auckland have catered to World Cup tourists by making public transportation free on game days for anyone with a match ticket. The extra effort has not gone unnoticed by tourists, especially those who have traveled to other World Cup events. Compared to the last Women’s World Cup in France, more businesses seem excited to welcome tourists, said US fan Carly Andler.

Persons: James Johnson, “, ” Johnson, ”, Monchy, CNN’s Richard Quest, Iain Walker, Chow Tory, Chow Tory's, Tara Subramaniam, Carly Andler, Andler, we’ve Organizations: Wellington CNN — Soccer, Football Australia, Tourism, Zealand’s Ministry of Business Innovation, New Zealand, Air New Zealand, FIFA, CNN, New Zealand’s Football Ferns, Wellington Chocolate Factory, Wellington City Council Locations: Australia, New Zealand, Tourism New Zealand, New, Tourism Australia, Cities, Wellington, Auckland, Dunedin, Hamilton, United States, Costa Rica, Spanish, Swedish, Italy, Japan, Rosebud, Bundaberg, Zealand, France

☆ The unlikely love affair between Australia and Bollywood
▼ + stars: | 2023-08-19 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +11 min

CNN —It is the kind of unlikely love story that would make the scriptwriters of Asia’s biggest movie business proud. Film & Casting TempleHarman Baweja starred alongside Priyanka Chopra in “Love Story 2050,” shot in South Australia and released in 2008. “Australia realized that after ‘servicing’ Bollywood for over 13 years it was time to shift gears and move to collaboration with Indian cinema,” said Sharma. Salim MerchantChanging global appetiteOf no little importance is the growing audience for Bollywood productions in Australia. Anupam Sharma films for Australia's first ethnic reality show, "Bollywood Star," on SBS TV by WTFN.

Persons: Anthony Albanese, Narendra Modi, Tony Burke, “, ”, Anupam Sharma, Sharma, Feroz Khan –, “ Bollywood’s Clint Eastwood ” –, I’m, ’, “ Prem Aggan, Khan, Harman Baweja, Priyanka Chopra, Mike Rann, Baweja, Harry Baweja, Ajay Devgan, ” Sharma, Garth Davis, Dev Patel, Nicole Kidman, David Wenham, Weinstein, ” Brothers Salim, Sulaiman Merchant, “ UnIndian, Salim Merchant, Salim, Sulaiman, Mitu Bhowmick Lange, Bhowmick Lange “, ” Bhowmick Lange, Bhowmick Lange, La Trobe, Anupam, “ Everyone’s Organizations: CNN, Asia’s, Australian, Indian Film, of Melbourne, Sydney Opera House, Baweja Studios, “, Mumbai, –, ”, Co, “ Salaam, La Trobe University, La, SBS, WTFN Locations: Australia, Delhi, Brisbane, Sydney, Australian, Melbourne, India, Lake Gairdner, South Australia, Western Australia, “ Australia, ” Australia, Canada, China, Mumbai, Victoria, China Town

☆ Dollar shines on U.S. economic resilience, Aussie tumbles after employment data
▼ + stars: | 2023-08-17 | by ( ) www.cnbc.com time to read: +4 min

Hundred dollar bills are seen in this photo illustraiton in Warsaw, Poland on Sept. 21, 2022. The Australian dollar tumbled after the country's July employment unexpectedly fell while its jobless rate ticked up more than expected. The Aussie sank nearly 1% after the release of the figures, dragging the New Zealand dollar alongside it. "We've got the U.S. staying really resilient still, under the weight of high interest rates," said Carol Kong, a currency strategist at Commonwealth Bank of Australia, or CBA. "We expect 25-basis-point rate hikes in both September and November, for a peak policy rate of 5.75%," said Wells Fargo economist Nick Bennenbroek of the Bank of England's monetary policy outlook.

Persons: homebuilding, We've, Carol Kong, Kong, Wells, Nick Bennenbroek, Matt Simpson, there's, CBA's Organizations: dovish Bank of Japan, Aussie, New Zealand, U.S, Federal Reserve, Commonwealth Bank of Australia, Fed, FX, Bank of England, Bank, Australian, Zealand, Reserve Bank of Australia, People's Bank of China, The U.S Locations: Warsaw, Poland, Asia, Japan, China, CBA's Kong, The

☆ Matildas to look back in pride after thrilling host nation
▼ + stars: | 2023-08-17 | by ( Ian Ransom | ) www.reuters.com time to read: +5 min

England's second goal may haunt Ellie Carpenter, whose failure to clear an innocuous long ball opened the door for Lauren Hemp to swoop. Distraught midfielder Katrina Gorry worried the Matildas had let the nation down after building them up on their first run to a World Cup semi-finals. "The joyride is over, but the glow will long remain," sports columnist Greg Baum wrote in Melbourne's The Age newspaper. Since being awarded the right to host the tournament with New Zealand three years ago, Australian soccer officials have promised repeatedly that the World Cup would leave a strong legacy for the game. Long-term, it remains to be seen whether the World Cup has moved the needle for a sport in Australia that has modest professional leagues and struggles to retain talent.

Persons: Sam Kerr, Hannah Mckay, Sam Kerr's, England's, Ellie Carpenter, Lauren Hemp, Lax, Katrina Gorry, Gorry, Greg Baum, Kerr, Vine, Ange Postecoglou, Ian Ransom, Jamie Freed Organizations: Soccer Football, FIFA, England, Rights MELBOURNE, Stadium Australia, Spain, Sweden, Olympic, Canada, Nigeria, Australia, France, Australian Rules, New Zealand, Seven Network, league, Socceroos, Thomson Locations: New Zealand, Australia, Sydney, England, Denmark, Canada, Melbourne

☆ Dollar shines on US economic resilience; Aussie tumbles after employment data
▼ + stars: | 2023-08-17 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The Australian dollar tumbled after the country's July employment unexpectedly fell while its jobless rate ticked up more than expected. The Aussie sank nearly 1% after the release of the figures, dragging the New Zealand dollar alongside it. The yen bottomed out at 146.565 per dollar in early Asia trade, its lowest level since November, having come under renewed pressure as a result of interest rate differentials between the U.S. and Japan. "We've got the U.S. staying really resilient still, under the weight of high interest rates," said Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA). "We expect 25-basis-point rate hikes in both September and November, for a peak policy rate of 5.75%," said Wells Fargo economist Nick Bennenbroek of the Bank of England's monetary policy outlook.

Persons: Dado Ruvic, homebuilding, We've, Carol Kong, Kong, Wells, Nick Bennenbroek, Matt Simpson, there's, CBA's, Rae Wee, Gerry Doyle Organizations: REUTERS, Rights, dovish Bank of Japan, Aussie, New Zealand, U.S, Federal Reserve, Commonwealth Bank of Australia, Fed, FX, Bank of England, Bank, Zealand, Reserve Bank of Australia, People's Bank of China, The U.S, Thomson Locations: Asia, Japan, China, CBA's Kong, The

☆ Yen treads on intervention zone; kiwi, Aussie dlrs hit by China woes
▼ + stars: | 2023-08-16 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. The Aussie bottomed at $0.6440, while the kiwi slid to a low of $0.5939, ahead of a rate decision by the Reserve Bank of New Zealand later on Wednesday. "But where we are at the moment, I think the jawboning will continue but I'm not convinced that we'll see intervention." The greenback predictably rode Treasury yields higher, with the dollar index ekeing out a slight gain to 103.22. The euro was little changed at $1.0902, while sterling dipped 0.05% to $1.2696, ahead of UK inflation data due later on Wednesday.

Persons: Florence Lo, Aninda Mitra, Shunichi Suzuki, Ray Attrill, I'm, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, New, Reserve Bank of New, People's Bank of, BNY Mellon Investment Management, Finance, National Australia Bank, Federal Reserve, Treasury, Thomson Locations: Asia, Beijing, China, New Zealand, Reserve Bank of New Zealand, People's Bank of China, Japan

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