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Currency and Financial Newswire
Continuously updated throughout the day...
USD & CAD - Sep. 01, 2009 - Have Global Markets Surged Too High, Too Fast?
Currency Exchange - China Recovers Modestly Following yesterday’s stock market lashing, Asian equities were able to stage a modest comeback throughout their overnight trading session. The Shanghai Composite Index dusted itself off and added a shade under 1% off the back of an upbeat financial sector and improved manufacturing data. China’s PMI (Purchasing Managers Index) for August rang in with a reading of 54, up from July’s 53.3 result. Traditionally, when dissecting PMI data, investors will keep a close eye on the 50-level, as a reading above this post indicates expansion. Taking it one step further, this increase in the most recent data translates... Read more
AUD - Sep. 01, 2009 - Volatility continues
Currency Converter News - The Australian dollar performed well overnight despite the fact equity markets and commodities lost ground. The local unit has opened at similar levels as yesterday after spending most of the domestic session losing ground. Local data did nothing to support the AUDs cause yesterday with inflation data coming in below expectations. The monthly inflation gauge showed no change for August after increasing in July. The annual rate is sitting at 1.7% which is well below the RBA''s target range of 2-3%. Given the uncertainty in market conditions the RBA will have reason to continue a neutral bias to rates. In other local... Read more