FOREIGN EXCHANGE RATES – AUSTRALIA

$A tipped below US70c by year end

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 20 : 9-Nov-15

The Australian dollar was buying $US0.7032 on the weekend of 7-8 November 2015, after dipping to $US0.7023. The currency was sold down in response to stronger-than-forecast growth in US jobs during October, which has heightened expectations that the Federal Reserve will increase the cash rate in December. Joseph Capurso of the Commonwealth Bank believes that the Australian dollar could be trading within the range of $US0.68 to $US0.69 by the end of 2015.

CORPORATES
UNITED STATES. FEDERAL RESERVE BOARD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC

Dollar jumps as RBA wrong-foots punters with cash rate

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Original article by Mark Mulligan
The Australian Financial Review – Page: 32 : 4-Nov-15

The Australian dollar was fetching $US0.7199 late in trading on 3 November 2015. The currency reached an intra-day high of $US0.7209 after the Reserve Bank left the cash rate on hold. Central bank governor Glenn Stevens indicated that there may be potential for further rate cuts given the low inflation rate. Felicity Emmett of the ANZ Bank expects the cash rate to be left on hold again in December before being reduced in February.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, JP MORGAN AUSTRALIA LIMITED, JAMIESONCOOTEBONDS PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD

Aussie higher on RBA bets as currency wars rumble on

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Original article by Mark Mulligan
The Australian Financial Review – Page: 32 : 3-Nov-15

The Australian dollar traded around $US0.7139 in late local trade on 2 November 2015. Traders expect the Reserve Bank of Australia to keep the official interest rate unchanged. The Australian currency has lost about 27 per cent in value against the US dollar since the US Federal Reserve ended its policy of quantitative easing.

CORPORATES
RESERVE BANK OF AUSTRALIA, EUROPEAN CENTRAL BANK, UNITED STATES. FEDERAL RESERVE BOARD

Aussie dives as third-quarter inflation figure surprises

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Original article by Mark Mulligan
The Australian Financial Review – Page: 34 : 29-Oct-15

The Australian dollar was buying $US0.7119 late in trading on 28 October 2015, after starting the session above $US0.72. The currency fell sharply in response to official data showing that the headline and core inflation rates were lower than forecast in the September quarter, which may strengthen the case for further monetary policy easing. Paul Dales of Capital Economics says an interest rate cut is possible in November.

CORPORATES
CAPITAL ECONOMICS LIMITED, RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, UNITED STATES. FEDERAL RESERVE BOARD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

$A tipped to reach US75c as rates call spurs rally

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 39 : 8-Oct-15

The Australian dollar was buying $US0.718 late in trading on 7 October 2015, and some analysts are upbeat about its near-term outlook. BK Asset Management’s Boris Schlossberg says the currency could test the $US0.75 level if there is an upturn in commodity prices during the final months of 2015. Richard Franulovich of Westpac Institutional Bank says the currency could also benefit from any decline in the US dollar on a trade-weighted basis.

CORPORATES
BK ASSET MANAGEMENT, WESTPAC INSTITUTIONAL BANK, GOLDMAN SACHS ASSET MANAGEMENT, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, UNITED STATES. DEPT OF THE TREASURY

$A overshoots as iron ore export volumes up again

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Original article by Mark Mulligan
The Australian Financial Review – Page: 26 : 10-Sep-15

The Australian dollar is trading at around $US0.70, having recently fallen to $US0.6896. However, Annette Beacher of TD Securities argues that the rebound in the iron ore price means the currency should be trading at the $US0.76 level. Meanwhile, Beacher says the Reserve Bank is likely to maintain the cash rate at two per cent in the wake of the currency’s recent downturn.

CORPORATES
TD SECURITIES, RESERVE BANK OF AUSTRALIA, CAPITAL ECONOMICS LIMITED, GROUP OF TEN (G-10)

Aussie fall below US60c may shore up economy

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Original article by Rose Powell
The Australian Financial Review – Page: 22 : 4-Sep-15

A decline in the Australian dollar is not necessarily a negative development. Deutsche Bank chief economist Adam Boyton says a weaker dollar can assist the economy in adjusting itself to a post-mining environment and help prevent it from falling into recession. Boyton predicts that the Australian currency could fall to as low as $US0.50 by the end of 2016.

CORPORATES
DEUTSCHE BANK AG, KAIZEN CAPITAL PTY LTD, HSBC AUSTRALIA HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, SUNCORP GROUP LIMITED – ASX SUN, WESTPAC (NZ) INVESTMENTS LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Australian dollar wobbles on new China volatility

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 26 : 20-Aug-15

The Australian dollar was trading at $US0.7333 in late trade on 18 August 2015. The Australian currency is under pressure because of weak commodity prices. Copper and aluminium prices have fallen to their lowest levels in six years. National Australia Bank global co-head of foreign exchange strategy Ray Attrill says the Australian dollar usually moves in the same direction as the currencies of Asia’s emerging economies.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, UNITED STATES. FEDERAL RESERVE BOARD, SAXO CAPITAL MARKETS (AUSTRALIA) PTY LTD

Aussie dollar steadies amid fears of limited future gains

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 28 : 18-Aug-15

The Australian dollar was trading at $US0.7374 in late trade on 17 August 2015. UBS economist George Tharenou expects the local currency to continue to be under pressure due to weak commodity prices. He says the Australian dollar is likely to decline to $US0.70 by the end of 2015.

CORPORATES
UBS HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, OZFOREX GROUP LIMITED – ASX OFX, GOLDMAN SACHS AUSTRALIA PTY LTD

Westpac tips Aussie at US70c by end of 2015

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Original article by Rose Powell
The Australian Financial Review – Page: 31 : 11-Aug-15

The Australian dollar is likely to continue to fall. Westpac expects the currency to decline to $US0.70 at the end of 2015. Westpac chief economist Bill Evans explains that the bank revised its forecast from $US0.72 to reflect lower forecast for global growth for both 2015 and 2016.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, OANDA AUSTRALIA PTY LTD