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  • Editor’s Picks / 1 hour ago

    Australia's capex lower than expected

    Sydney Morning Herald
    Australia's transition away from a dependence on mining-related investment remains sluggish, according to the latest quarterly capital expenditure survey by the Australian Bureau of Statistics. The Sydney Morning Herald's Mark Mulligan writes that March-quarter investment fell 4.4%, seasonally adjusted, from the previous three months, and 5.3% on the year. The fall was steeper than expected, and the AUD immediately dropped more than three-quarters of a US cent, to 76.86¢, as traders bet the Reserve Bank of Australia would have to cut rates further to stimulate non-mining investment.
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  • Editor’s Picks / 1 hour ago

    BoJ governor dismisses asset bubble concerns

    CNBC
    Bank of Japan Governor Haruhiko Kuroda doesn't believe a bubble is brewing nor is he worried about where the yen is headed, despite Tokyo stocks being at 15-year highs and the yen at eight-year lows. CNBC's Mia Tahara-Stubbs writes Kuroda doesn't think there is any asset bubble or stock market bubble, but says "we will continue to monitor carefully". Kuroda has pursued an unprecedented monetary easing program since April 2013, which has triggered a stock market rally. The Nikkei opened at a fresh 15-year high on Thursday morning.
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  • Article / 3 hours ago

    Today's Trade: Attention focused on private capex release

    Trading Desk / Saxo Capital Markets
    Australia
    Today's Trade: Attention focused on private capex release
    The local market opened higher in early trading with the ASX 200 up 8 points to 5733 in the first 20 minutes. The strength is partly attributed to the rebound on international markets following the news that Greece was drafting an agreement with its creditors. Meanwhile, today's private capital expenditure numbers are expected to have a significant impact on the near-term direction of AUDUSD.
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  • Editor’s Picks / Yesterday at 23:54 GMT

    More than one-third of US workers want longer hours: Fed report

    Bloomberg
    A large percentage of Americans want to work longer hours even without a raise, according to the Federal Reserve's report on the economic well-being of US households. Victoria Stilwell writes for Bloomberg that the Fed asked non-self-employed workers whether they'd prefer to work more, less, or the same amount that they now work if their hourly wage was unchanged. Of the respondents, 36% said they'd prefer to work more hours at their current wage. Among those who work part time, the share is even higher at 49%. The goal of the question was to help gauge the amount of underemployment in the economy, according to the report.
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  • Article / Yesterday at 23:32 GMT

    OPEC set to back Saudi plan for high supply

    Managing Partner / Spotlight Group
    United Kingdom
    OPEC set to back Saudi plan for high supply
    At next week's OPEC meeting, Saudi Arabia will argue that the organisation should keep up production – and it has a strong case. While there may be pockets of resistance at the June 5 meeting, it is expected that OPEC will maintain its daily production target of 30 million barrels.
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  • Editor’s Picks / Yesterday at 12:15 GMT

    China's not practicing what it preaches

    Bloomberg
    China's leaders may talk tough on instituting painful measures but when push comes to shove, Beijing's tolerance of adversity is proving to be sadly lacking, writes William Pesek. Just two weeks ago, Beijing ordered banks to prop up local-government financing vehicles, the very entities it should be cracking down on, and the People's Bank of China has also this week decided to guide the three-month Shanghai Interbank Offered Rates to its lowest since 2008. Far from addressing China's myriad problems, all such measures do is postpone a coming crisis that, when it does unfold, threatens to destabilise the global economy, all in the name of political expediency on the part of president Xi Jinping.
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  • Article / Yesterday at 11:45 GMT

    FX Noon: Safety in numbers

    Director / Accumen Management
    United Kingdom
    FX Noon: Safety in numbers
    Today's session has seen the USD extend its gains, particularly against the yen. The dollar rally, however, remains hugely dependent on bullish data so the release of the latest US GDP print on Friday looms large in the distance.
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  • Article / Yesterday at 11:00 GMT

    We're just getting started

    Head of Trading / The ECU Group plc
    United Kingdom
    We're just getting started
    The USD has surged against the euro of late, but has the rally run its course? Or is this instead the beginning of a protracted, policy differentiation-driven trend?
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  • 15h
    Martin O'Rourke Martin O'Rourke
    EURUSD has been as low as 1.08566 in the European session and is currently trading near that at 1.0862 at 1156 GMT. USDJPY is very close to...
    15h
    Martin O'Rourke Martin O'Rourke
    Brent has slipped on the day to $63.62/barrel. WTI is 50 cents or so shy of this morning's figure in Morning Markets at $58.13/b at 1200 GMT....
    14h
    Martin O'Rourke Martin O'Rourke
    EURUSD continues to feel the heat, slipping as low as 1.08182 intraday. It currently resides at 1.0834 at 1320 GMT. Brent and WTI are also both on...