May Behind Us! Let's hope for a better June!

-U.S economic data fails to excite

-Europe quite, nothing new. Merkel may concede and allow ESM to directly finance distressed banks

-All important Jobs number out of the U.S tonight.

 

Read the full report below:

Exchange Rate Today

Stocks down, Oil down, nothing has changed

Nothing much has changed overnight other than showing us that maybe the saying "sell in May and go away" is bang on!

- European markets slid, Stoxx 50 worst down 2%

- U.S markets down, S+P worst at 1.5%

- Greece - nothing new, accept Germany re-iterating what they already said about a join Eurobond.

- Upcoming local data includes building approvals and capital expenditure. 

- preliminary jobs number released in the U.S tonight.

 

Read the full report and where the exchange rate today is headed.

Retail Sales out, equities up

Markets post solid gains in overnight trade

Spain only negative down 2.3%

China rules out large scale stimulus

Facebook shares shamshed, down 25%

Check out full report at Bank Exchange Rate Blog 

Memorial Day Holiday in the U.S, Aussie declines

- U.S equities were closed for Memorial Day holidays

- European equities were mixed, Spain down 3%, FTSE up 0.1%

 

 

- Greek Pro bailout New Democracy party leading in the polls

- 66% of Greek voters beleive Greece will stay in Euro and want to stay in Euro

read the full wrap at Bank Exchange Rate Blog

Aussie, Equities on the Charge

Aussie dollar up on positive risk sentiment and equities followign the lead from friday's nights close in Europe!

Check Bank Exchange Rate Blog for plenty more

Aussie Back, but for how long?

The Aussie dollar has rallied off lows below 0.9700 and EUR/USD remains under pressure.

Comments from Mario Monti incite a bit of positive sentiment.

German manufacturing PMI dissapoint, but European equities rally.

More at Bank Exchange Rate Blog

Markets set for more turmoil

Markets were mixed overnight, volatility continuing today. 

European Summit tonight and U.S New Home sales could see renewed optimism for a resolution to Greece's issues.

Check out my latest blog entry for more information.

Bank Exchange Rate Blog

Markets bounce...pretty sure I said this would happen!

The markets have bounced overnight in the U.S and parts of Europe following renewed commitment to keep Greece a part of the Eurozone. 

Positive comments from President Wen of China also helped ease concerns that the Chinese economy would come to a stop.

 

Read more at Bank Exchange Rate Blog

G8 Summit, Facebook and Chinese Growth...

Its been an interesting few days with Facebook listing on the NASDAQ, G8 Summit over the weekend and talk that Chinese President Wen Jiaboa will again loosen fiscal restraints and is determined to back growth in the most populous nation in the world.

For plenty more and a more in depth look at the week ahead, head to my Bank Exchange Rate blog 

U.S Dollar Reaching Technical Resistance

"Stocks and the dollar have tended to move in opposite directions over the last few years. Now, some chart watchers say the dollar gauge is nearing technical resistance, which could be a welcome sign for stock investors."

If this holds true and as I mentioned earlier in the week -  the Aussie dollar likely to find support around 0.9800 - keep an eye out for the bounce, its coming.

http://blogs.wsj.com/marketbeat/2012/05/17/morning-marketbeat-stocks-still-stuck-in-rut/?mod=WSJBlog

For more great news check out the blog

One of the best sum ups of the Greece crisis

The following Youtube video, is perhaps one of the best clips i have viewed so far, analysing that Greece situation and the real liklihood of an exit (which is slim)

 

The Aussie Dollar Slips further...

It appears risk markets are again taking a pounding with the Aussie down further trading at a low of 0.9920 vs the dollar. 

EUR/USD has also lost ground significantly as investors push into the safety of the US dollar. 

EUR/USD has fallen to 1.2720, a level we havent seen since early January.

Aussie euqities followed the lead from markets overseas and has fallen just as heavily down around a percent.

For in depth coverage of the exchange rate movements check out my bank exchange rate blog

 

RBA Minutes As Expected

Article released on bloomberg on the back of the RBA minutes released this morning.

http://www.bloomberg.com/news/2012-05-15/rba-saw-half-point-cut-needed-to-revive-growth-minutes-show-1-.html

"The Reserve Bank of Australia made its deepest interest-rate cut in three years to help revive below-average growth, counter rising mortgage costs and shore up consumer confidence, minutes of its May 1 meeting showed." - Bloomberg

The move was definitely warranted, I think its obvious to most Australian's, particularly Victorians that some level of stimulation is required in order to see us thrive over the coming months.

Check out my Bank Exchange Rate blog