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Australia: Positive start of trade account in 2018 led by higher exports - Westpac

Andrew Hanlan Research Analyst at Westpac explains that in the space of a month Australias trade position has turned around from a deficit of $1.1bn to a surplus of $1.1bn. Key Quotes The January outcome exceeded expectations with the market looking for a surplus of $160mn and Westpac at $600mn. Recall that the trade balance deteriorated from a surplus of $252mn in November to what proved to be a oneoff deficit in December. Imports spiked in December increasing by $2.0bn a jump of 6.2%. [read more]

From My Analyst DeskSummaryThe Dow Future is falling 32 points to 20595. The US Dollar Index edged lower 0.067 points to 99.686. Gold is up 3.785 dollars to 1249.205. Silver has climbed 0.0450 dollars to 17.5595. The Dow Industrials moved lower 6.71 points at 20661.30 while the S&P 500 gained 4.43 points last seen at 2348.45. The Nasdaq Composite advanced 28.81 points to 5822.64. Currencies [read more]

The pound fell against the euro on speculation the U.K. will leave the European Union. Prime Minister David Cameron negotiated with fellow EU leaders for a second day as he pleaded for a deal on his nations membership of the bloc that he can sell to British voters.Sterling declined 0.1 percent to 77.53 pence per euro. It depreciated to 78.98 on Feb. 11 the weakest since December 2014. (Source Bloomberg) [read more]

The yen rose heading for its best month in more than seven years after a decline in oil prices renewed concerns about market turmoil. The yen headed for a threeweek rally which would be the longest winning streak in five months after oil fell following a report that U.S. crude inventories reached an 86year high and Japanese stocks dropped. The currency edged higher against the euro for a fourth day on speculation the European Central Bank will expand stimulus at its meeting next month. The yen has gained 7.2 percent in February putting it on course for the strongest [read more]

Morning Briefing 24/3/17  07:34 Hk/Sg

From My Analyst DeskSummaryThe Dow Future is trending higher 7 points to 20603. The US Dollar Index moved up 0.011 points to 99.735. Gold has advanced 1.620 dollars to 1246.620. Silver is trending higher 0.0605 dollars to 17.5925. The Dow Industrials trended lower by 4.72 points at 20656.58 while the S&P 500 softened 2.49 points last seen at 2345.96. The Nasdaq Composite moved down 3.19 points to 5818.45. Currencies [read more]

The Australian dollar tumbled after a disappointing jobs report fueled investor doubts about whether the central bank is done cutting interest rates.The Aussie declined against all but one of its 16 major peers. The nations unemployment rate unexpectedly rose to 6 percent in January according to the statistics bureau. The Reserve Bank of Australia which left interest rates unchanged at a record low this month will cut its benchmark interest rate to 1.5 percent this year Goldman Sachs Group Inc. analysts said in a note to clients. The New Zealand dollar rose for the first time in five days [read more]

USDCHF extended gains into a fifth day in a row on Thursday and printed a 10day high at the beginning of the New York session before finding resistance at the 50day SMA. USDCHF broke above the 0.9950 resistance area and peaked at 0.9967 in recent dealings. However the pair found sellers around the 50day SMA and lost momentum. At time of writing USDCHF is trading at 0.9960 recording a 0.38% gain on the day. (Source FXStreet) [read more]

Japanese stocks fell paring the best weekly advance in six years after the yen strengthened against the dollar denting the earnings outlook for exporters. The Topix index dropped 1.4 percent to 1292.79 as of 922 a.m. in Tokyo. The measure is heading for a 8.1 percent gain since Feb. 12 when it closed at a 15month low. The Nikkei 225 Stock Average lost 1.4 percent to 15967.07 as the yen traded at 113.10 per dollar after jumping 0.8 percent Thursday. U.S. stocks fell following the strongest threeday rally in almost six months for the Standard & Poors 500 Index. [read more]