- Overnight Interest Rate Update 03.18.10 Thu, 18 Mar 2010 10:37 GMT
market alert
Article
Previous Articles
Print
- Mar, 18 Overnight Interest Rate Update 03.18.10
- Mar, 17 U.K. Jobless Claims Free Falls Most Since 1997, GBPUSD Rallies
- Mar, 17 Overnight Interest Rate Update 03.17.10
- Mar, 16 Overnight Interest Rate Update 03.16.10
- Mar, 16 Understanding Credit-Default-Swaps
- Mar, 16 Australian Dollar Sold on Lackluster RBA Meeting Minutes
- Mar, 15 China Weekly 03.15
- Mar, 15 Overnight Interest Rate Update 03.15.10
- Mar, 15 New Zealand Service Sector Gains Momentum on New Orders, Sales Growth
- Mar, 15 UK House Price Growth Slows for First in Thirteen Months, Says Rightmove
- Mar, 12 U.S. Retail Sales Unexpectedly Increase in February, Spurring a Rise in USD/JPY
- Mar, 12 Overnight Interest Rate Update 03.12.10
- Mar, 12 New Zealand Retailing Outperforms on Fuel, Car Sales
- Mar, 11 SNB Keeps Rates Unchanged, Reaffirms Commitment to Limit Franc Appreciation
- Mar, 11 Overnight Interest Rate Update 03.11.10
- Mar, 11 Japan's GDP Report Shows Deflation Rate Doubled in Fourth Quarter
- Mar, 11 Australian Unemployment Rate Rises as Job Gains Disappoint
- Mar, 10 U.K. Manufacturing Tumbles for the First Time in Five Months
- Mar, 10 Overnight Interest Rate Update 03.10.10
- Mar, 10 Australian Home Loans Drop Most in Nearly a Decade on Rates, Grants
Australian Retail Sales unexpectedly dropped in December, slipping -0.7% from the previous month versus expectations of a 0.2% increase to register the first decline in five months. Department store sales led the metric lower, slipping -3.5%, while apparel and food sales lost -1.9% and -1.3% respectively. The figures bode ill for the Australian Dollar, painting a dour picture of the Australian consumer even as stimulus is withdrawn and the self-sufficiency of economic growth is tested. Indeed, December’s surge in Building Approvals seemed to be ignored despite a 2.2% increase amid expectations for a flat result and a sharp upward revision to November’s outcome (10.4% versus 5.4% originally reported). The outcome likely failed to impress as permits for publicly-funded construction grew at an annual pace that was nearly nine times that of the private sector, hinting that most of the gains were had on the back of infrastructure spending allotted in last year’s fiscal package. Investors seem far more concerned with the continuity of the recovery at this point, with today’s figures adding to headwinds facing the high-yielding currency after business confidence floundered and the central bank unexpectedly failed to deliver higher interest rates.
For real time news and analysis, please visit http://forexstream.dailyfx.com
To receive future articles by email, please contact Ilya at ispivak@dailyfx.com
DailyFX provides forex news on the economic reports and political events that influence the currency market.
Learn currency trading with a free practice account and charts from FXCM.
Resources
