Posts Tagged ‘Gdp’

Yuan rose, weakening dollar, stronger GDP data

Posted by Tushar Mathur on January 23rd, 2012

A better GDP data is been marked up than expected. The dollar is therefore weakened when compared with that of the Yuan value raised. A stronger central bank mid point is been obtained due to the Yuan value raised with that of the Gross Domestic Product rate, on Wednesday.

The central bank has set the midpoint at 6, 3205 and on Wednesday the Yuan was at 6.3120. Nevertheless it is 30 pips higher than its previous days (Tuesdays) close. Yuan earned appreciation in its recent week with that of the fear in the economy slowing down.

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Aussie dollar now at relief rally

Posted by Tushar Mathur on June 2nd, 2011

Aussie, the Australian dollar is now at the stress free rally on the trade on Wednesday. The kiwi is also relaxed as they have seen their heights in recent days and developed a little from their lows. Aussie is now much scared to trade or has any contracts as they showed up their economy status. They showed that their GDP (Gross Domestic Product) is 1.2% in the mid of the march.

Before three weak when we look at the values of the Australian dollar it was at $1.0757 which is considered to be the peak value and that was set as reference on Tuesday whereas on Wednesday it was at $1.0751.

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Economy to grow by 9 p.c. in 2011-12 says PMEAC

Posted by Tushar Mathur on February 22nd, 2011

The PMEAC (Prime Minister’s Economic Advisory Council) expects the economic growth rate to bounce back to the pre-crisis level of 9 % during the year 2011-12 on account of the strong performance indicators of the industry and service sectors.The economy had been growing by over 9 per cent before the global financial meltdown brought down the growth rate to 6.8 % during 2008-09.

However, following the stimulation provided by our government to the industry, the growth rate has picked up to 8 % in 2009-10 and the current fiscal is expected to end with 8.6 %.

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The kiwi retreated at the end of last week on a rise in risk aversion

Posted by admin on November 2nd, 2009

The kiwi dollar struggled on Friday enabling the pound to jump 1.4%, briefly nearing the 2.30 level, as risk appetite in the market waned.Higher-risk currencies struggled to make headway at the end of last week as the rally in global equities in the wake of the positive US GDP data came to an abrupt halt. As global stocks fell, investors sought shelter in the haven currencies fuelling a sell-off in the higher-yielding kiwi dollar, buoying the sterling price. In trading this morning, the New Zealand dollar has pulled back from six-week lows against the pound, with profit taking in high-yield currencies taking a pause.

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Having weakened off sharply on Friday, the aussie is trading strongly against the pound this morning

Posted by admin on November 2nd, 2009

The pound climbed just over two cents against a broadly weakened aussie dollar on Friday with a rise in risk aversion putting selling pressure on the higher-yielding currency. Weak data in the US and plummeting global equity markets enable the pound to gain as investors took the opportunity to cash profits in the aussie and retreat to safer assets. Analysts have recently noted that the rally in risky assets could come to an end. Conditions for perceived riskier assets to gain requires a flow of positive economic data combined with loose global monetary policies and low interest rates.

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The euro lost ground to the dollar on Friday as the rally in equities came to a halt

Posted by admin on November 2nd, 2009

The dollar strengthened, consolidating after broad selling on the back of data showing strong US growth, gaining over a cent on the single currency. Equities took a sharp downturn at the end of last week, having rallied after the positive US GDP data, most likely as a result of end of month profit taking, which buoyed demand for the greenback. Data also showed that US consumer spending fell for the first time in five months in September, coinciding with the end of the government’s car scrappage scheme. The US Commerce Department says spending dropped 0.5% in September, compared with a 1.4% rise in August, which encouraged investors to buy back into the haven currency.The US dollar extended gains in the afternoon, pushing the euro down near three-week lows after data showed that a US Midwest manufacturing index was stronger-than-expected failed to heighten risk appetite. The euro has climbed in trading this morning with the price currently hovering around the mid 1.47 mark.

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U.S. GDP grew by 3.5% in third quarter

Posted by admin on October 30th, 2009

Growth of the U.S. economy in the third quarter amounted to 3,5%. Volume incentive program of the U.S. government allowed the country’s economy out of the very long and deep recession, with 30 years of the last century.GDP growth in the third quarter was the first in the current year and the most significant in the past two years. Before reporting period, U.S. GDP has been declining steadily for four consecutive quarters. This was the first time since the Great Depression.Compared with the same period last year, U.S. GDP fell by 2.3%.

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Kiwi strenghtened broadly yesterday, but the pound has stemmed its losses in trading this morning

Posted by admin on October 30th, 2009

Better-than-expected GDP figures in the US caused risk appetite to surge across the board enabling the kiwi to post gains of over a cent against the pound.The solid GDP figure in the US renewed optimism about recovery in the global economy, prompting investors to buy higher-yielding currencies. The kiwi, which has suffered recently on a rise in risk aversion, was able to reverse losses as the positive data encouraged investors to buy up riskier assets. However, in trading this morning, the pound is recouping losses, pushing the price back near 2.27 as market participants return their thoughts to the RBNZ’s rate statement on Wednesday where they indicated that interest rates would not be raised for some time.

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With the US exiting recession, investors moved into higher-yielding assets bossting the aussie

Posted by admin on October 30th, 2009

The aussie dollar reversed recent losses yesterday after positive US GDP data encouraged investors to buy-back into perceived riskier currencies. The aussie pulled back nearly two cents, or 1.0%, bringing the sterling/aussie pair back down to trade around 1.80 as the data spurred demand for risk. Investors have been cashing profits in the Australian currency recently as global equities took a downturn, but yesterday’s figure saw traders revive long positions in the aussie. Analysts noted that the figures were a near-perfect combination for riskier assets: strong enough to encourage those with an optimistic outlook on the financial markets, but not too strong to generate expectations of accelerated monetary tightening from the Federal Reserve.

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Positive GDP figures in the US drove dollar selling yesterday enabling the pound to gain

Posted by admin on October 30th, 2009

Sterling extended its rally, briefly climbing above $1.66 as the dollar sold off broadly after strong economic growth data spurred demand for riskier assets. In early trading, the pound found support from data that showed UK mortgage approvals for September increased to their highest level since February last year, exceeding market forecasts. Risk appetite was buoyed further in the afternoon after a report showed the US economy returned to growth in the third quarter, boosting stocks and reducing the appeal of the relative safety of the greenback. The US economy in the third quarter grew by 3.5% on an annualised basis, beating market expectations of a 3.3% rise and easing recently voiced concerns over the strength of the US recovery.

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Pound extended gains against the euro, buoyed by positive economic data

Posted by admin on October 30th, 2009

The pound continued to rally yesterday and is now poised to snap a three-month decline versus the euro, as the UK showed positive economic signals. Data from the Bank of England revealed that UK net consumer lending rose less than expected in September but the number of loans approved for house purchases did hit its highest level in 18- months. Mortgage approvals rose to 56,215 from a revised 52,970 in August, which is the highest level of approvals since February last year and marks a solid recovery from September 2008 when only 33,419 mortgages were approved.

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Aussie was broadly sold yesterday as investors withdrew riskier positions

Posted by admin on October 29th, 2009

The pound advanced by 2.3% against the aussie as risk appetite stumbled in the wake of weak US economic data and a steep slide in global equities.In the early session, Australian inflation data was revealed to be slightly below expectations, leading investors to pare bets that the Reserve Bank of Australia will decide on a hefty interest-rate hike next week. The consumer price index rose in the third quarter by an annual 1.3%, the smallest gain since the second quarter of 1999, after advancing 1.5% in the previous three months.

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Weak US data enabled the US dollar to continue clawing back losses against the euro

Posted by admin on October 29th, 2009

The single currency slipped further away from recent 14-month highs against the dollar yesterday, losing nearly a cent to close down at 1.4707.The US dollar rose, stretching a rally against the euro to a fourth day, supported by weak U.S. economic data that weighed on equity markets and led investors to seek safety in the greenback and cut exposure to assets perceived as risky. Initially though, the euro pared early losses after data showed core US durable goods orders were better-than-expected in September. The report revealed that the core figure, which excludes transport equipment, rose by 0.9%, higher than forecasts of a 0.6% rise, strengthening risk appetite in the market.

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Sterling edged up against the dollar and is currently consolidating over 1.64 ahead of US GDP data

Posted by admin on October 29th, 2009

Sterling closed marginally up against the US currency yesterday, although the price was pulled back significantly following weak US housing data.In early trading, the pound lost ground to the dollar as falls in equity prices encouraged investors to trim their exposure to perceived higher risk currencies.UK stocks slid to a three-week low, helping to push the price down to 1.63, well under a level just below 1.67 reached only a week ago.The pound was then able to make slight gains in the afternoon after positive durable goods data weakened dollar demand, but the pair found resistance at 1.64.This data was then offset in the afternoon after it was revealed that sales of new homes in the US declined in September, against analyst expectations of a slight increase, which supported an upside movementIn trading today, markets will take direction from the US third-quarter GDP figure at 09:30, which is predicted to show a growth rate of 3.3%. Should it undershoot this forecast, investors are likely to move back into the dollar.

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The pound continues its rally against a broadly weaker aussie

Posted by admin on October 28th, 2009

Sterling edged up against the aussie yesterday, benefiting from improved UK sales data, which supported claims that the UK economy is recovering. On Monday evening, MPC member Adam Posen, following negative GDP data, stated that there were still signs of an economic recovery even if Britain is behind other countries in pulling out of the recession. His statement found support yesterday after the UK CBI sales showed month-on-month improvement, beating market expectations and buoying demand for the UK currency. The UK currency has pushed higher in trading this morning after investors pared bets of a steep rate rise in Australia after inflation data did not increase by as much as some had anticipated.

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