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Number of home loans up but RBA to wait

Number of home loans up but RBA to wait 2011-01-12 06:32:32     Unexpected growth in the number of new home loans will have little effect on interest rates until the full impact of the Queensland floods is known, economists say.The number of new home loans for owner-occupiers rose 2.5 % in the month of November, to a seasonally adjusted 50,526, official data showed on Wednesday.Economists' forecasts had centered on a 1.0 % fall in housing finance...

FOREX CENTRAL BANK WATCH: Interest Rate Expectations Steady After Yesterday's Big Moves

FOREX CENTRAL BANK WATCH: Interest Rate Expectations Steady After Yesterday's Big Moves 2011-01-12 05:29:14     Interest rate expectations are little changed after some big moves yesterday. BOE outlook held onto elevated levels, ticking 1bps higher. Markets now expect about two hikes from the central bank over the next twelve months, the most aggressive view since April of 2010. Aussie expectations remain depressed, however, on the back of some disappointing...

Aussie takes a beating as floods drag on economy

Aussie takes a beating as floods drag on economy 2011-01-11 10:58:23     Aussie weaker across the board as floods worsen Investors push out timing of next rate hike Could find support if coming job data prove strong SYDNEY/WELLINGTON, Jan 11 (Reuters) - The Australian dollar tumbled across the board on Tuesday as investors speculated that a sudden worsening of damaging floods in Queensland could crimp the economy and further put off any hike in interest rates.The Aussie plumbed to a...

Crude Oil Tests 26-Month Highs on Pipeline Leak, Gold Inches Higher on Dollar Decline

Crude Oil Tests 26-Month Highs on Pipeline Leak, Gold Inches Higher on Dollar Decline 2011-01-11 07:49:36     Crude oil managed to put in a solid gain on Monday despite declines in U.S. equities and most other commodities thanks to production cuts in Alaska. Meanwhile, gold rallied after the dollar fell for the first time in six sessions.Commodities – EnergyCrude Oil Tests 26-Month Highs on Pipeline LeakCrude Oil (WTI) - $89.30 // $0.05 // 0.06%Explanation:...

Job ads Increase for eighth straight month

Job ads Increase for eighth straight month 2011-01-11 06:35:42     The number of jobs advertised online and in newspapers rose for the eighth consecutive month in December, but jobs growth is set to moderate in 2011, a survey shows.The total number of jobs advertised in major metropolitan newspapers and on the internet rose by 2.0% in the month of December to a seasonally adjusted average of 188,614 per week.That compares to an upwardly revised 3.0 %...

Aussie examines 3-week low as floods threaten economy

Aussie examines 3-week low as floods threaten economy 2011-01-11 06:03:57     The Australian plumbed a three-week low against the U.S. dollar on Tuesday and shed a full cent on the euro as investors speculated that worsening floods in Queensland could crimp the economy and further put off any hike in interest rates.

Bank note firm re-hires sacked employees

Bank note firm re-hires sacked employees 2011-01-10 13:18:04     Reserve Bank of Australia Company has re-hired former employees that were suspected of corruption, according to a newspaper report.The agents were fired after the Australian Federal Police investigated them for bribing officials in several countries to win supply contracts.It is claimed that all were re-hired through a shelf company that operates out of the Seychelles. ...

Housing construction continues to downfall

Housing construction continues to downfall 2011-01-10 13:00:38     Activity in the construction industry remained relatively subdued in the month of December last year.The latest data from the Australian Industry Group and Housing Industry Association shows the Performance of Construction Index increased by 1.6 points in the month to 43.8, but remains below the 50 point level which separates expansion from contraction.The slight increase was supported by a higher level of engineering construction work, which was boosted...

Retailers refreshing for tough 2011

Retailers refreshing for tough 2011 2011-01-10 12:24:15     Retailers face gloomy prospects in the year of 2011 after new figures revealed pre-Christmas shoppers were cautious and out for bargains.The Australian Bureau of Statistics (ABS) on Monday reported retail trade rose 0.3 per cent in the month of November, seasonally adjusted.Popular items were early-discounted sporting goods, DVDs and video games, but shoppers were not so keen on clothing and footwear.The slight sales growth followed a fall...

Wet Spring dampens retail spending

Wet Spring dampens retail spending 2011-01-10 09:21:15     After a weak bounce in the month of November, retail trade for that month was still below its level in the month of August, the last month of winter.The weakness no doubt owed a lot to the increases in interest rates in late 2009 and the first half of the year 2010, as well as to the rate rise in the month of November, which came as a surprise to...
 
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