Australian Dollar Soars
The U.S. dollar (USD) gained some ground against the other major currencies on Monday after falling last week due to poor economic data. The Australian dollar (AUD) however has risen to a three-month high due to its increasing yield attractiveness and market expectations that the Reserve Bank of Australia is set to raise rates as [...]
Read more »Australian Govt looking to secure Reserve Bank governor’s services
Australia’s Treasurer Peter Costello says he would like the Reserve Bank governor Ian Macfarlane to continue working with the Government once his time in the job ends. Mr Macfarlane’s term will come to an end end in October this year. The Treasurer would not be drawn today on just when a replacement will be named [...]
Read more »Unemployment falls to 30-year low in Australia = Inflation?
Unemployment in Australia has fallen to its lowest level in 30 years, sparking market fears of a further hike in interest rates to curb inflationary pressure and a massive drop in stocks.
Read more »NAB bosses blinded by forex scandal
National Australia Bank’s management had the wool pulled over their eyes by two former traders involved in the $326 million unauthorised trading scandal that rocked the bank in 2004, a court has been told. The Victorian County Court heard that Vince Ficarra told his boss on the foreign exchange options desk, Luke Duffy, that he [...]
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