Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT tid,hits,start_time FROM biztimes_stats.stats_articles_au WHERE tid='557569' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT cmt_count FROM ib_articles_counts WHERE id='557569' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_sources WHERE id='3001' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_articles_options WHERE article_id='557569' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT article_id FROM ib_topics_index WHERE tid='250' ORDER BY id DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT article_id FROM ib_topics_index WHERE tid='227' ORDER BY id DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_rates WHERE article_id='557569' LIMIT 1 Australian Dollar Outlook -01July 2014 - International Business Times

Australian Dollar Outlook -01July 2014

  • Rate this Story
  • 0
  • 0

By Christine Gaylican | July 1, 2014 11:57 AM EST

Bell FX Currency Outlook: With the AUD trading in familiar ranges, the focus will be on the RBA's post-meeting statement released at 14:30AEST today.
Australia: We open this financial year some US 0.03 higher from where it started 2013/14. It opened last financial year at 0.9131 and over the
course of the year has been 4.7c lower and 6.3c higher.

REUTERS
Reserve Bank of New Zealand dollar notes are pictured in Singapore in this June 22, 2006 file photo.

The market are not expecting any change to the cash rate, the post-meeting statement is likely to continue to reflect the uncertainties around the outlook in line with the sentiment in the Minutes from the June meeting.

The RBA may soften its language in relation to the outlook for consumption given the lower-than-expected growth in Q1 consumption, weaker anecdotes from the retail sector and the decline in consumer confidence. It may also add further colour to its thinking on the high AUD, given that the dollar has risen nearly US 2 cents since the previous meeting, while  commodity prices have moved broadly lower.

The weekly ANZ-Roy Morgan measure of consumer confidence is published this morning and while it has improved modestly in recent weeks, it remains well below its pre-budget levels.

Majors: The USD declined as month end flow dominated and US economic data continued to improve. With gains in the GBP, EUR, JPY, AUD, and the NZD struggled as the June business survey disappointed and Treasury said that the terms of trade had likely peaked.

Euro-zone core inflation for June came in a point higher than expected at 0.8% y-o-y ahead of the ECB meeting. In China today, the official manufacturing PMI for June will be published at 11:00AEST and is expected to have risen modestly to 51.2 (mkt: 51.0) from 50.8.

Economic Calendar
1 JUL CH Manufacturing PMI Jun
RBA Cash Rate Target Jul
GE Unemployment Rate Jun
US ISM Manufacturing PMI Jun

For later prices, ranges visit www.bellpotter.com.au

To contact the editor, e-mail:

(Photo: REUTERS / Dennis Owen/Files)
Reserve Bank of New Zealand dollar notes are pictured in Singapore in this June 22, 2006 file photo.
Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id FROM ib_slideshows WHERE timestamp>1413946199 AND hits>0 AND outkey='Y' ORDER BY hits DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id FROM ib_slideshows WHERE timestamp<1413946199 AND timestamp>1413686999 AND hits>0 AND outkey='Y' ORDER BY hits DESC LIMIT 10
  • Rate this Story
  • 0
  • 0

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.