CommSec morning report Wednesday
In US economic data, consumer confidence fell from 108.6 to 106.4 in May (survey: 103.9). The S&P/Case-Shiller home price rose from an annual growth rate of 20.3% in February to 21.2% in March (survey: 20%). The house price index rose 19% on the year to March after rising 19.3% in the year to February. European…
Markets evening report
The Aussie sharemarket finished the last day of the month on a rather weak note and at session lows, after the S&P/ASX 200 fell by 1 per cent or 75.4pts, to 7211.2. All 11 sectors finished in the red for the 11th time this year. The Financial and Tech sectors weighed on the index after…
central bank adds liquidity via reverse repos
BEIJING, – The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 441 pips to 6.6607 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each…
Chinese yuan strengthens to 6.6607 against USD Tuesday
BEIJING, – The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 441 pips to 6.6607 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each…
non-manufacturing PMI up in May
BEIJING, – The purchasing managers’ index (PMI) for China’s non-manufacturing sector came in at 47.8 in May, up from 41.9 in April, the National Bureau of Statistics (NBS) said Tuesday. A reading above 50 indicates expansion, while a reading below it reflects contraction. Domestic COVID-19 infections have steadily declined in May, leading to the recovery…
CommSec Morning Report
Latest news • US financial markets were closed on Monday for the observance of the Memorial Day holiday. • German consumer prices in May were up by 8.7% on a year earlier (survey: +8%) – the highest growth in almost 50 years. • European sharemarkets advanced on Monday. Investors were encouraged by an easing of…
Monday evening report
The Aussie sharemarket kicked the week off on a strong note and finished at session highs after the ASX 200 added 1.45 per cent or 103.9 pts, to 7286.6. A strong lead from Wall St. on Friday caused the Tech sector to climb 4.6 per cent and post its first three-day winning streak in two…
Shanghai announces plan for economic recovery
SHANGHAI, – To coordinate COVID-19 control with economic development, the municipal government of Shanghai on Sunday launched an action plan to speed up economic recovery. Under the plan, composed of 50 policies and measures, the city’s approval system for production resumption will be abandoned starting June 1, Shanghai’s deputy mayor Wu Qing told a press…
central bank adds liquidity via reverse repos
BEIJING, – China’s central bank on Monday conducted 10 billion yuan (1.49 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People’s Bank of China. The move aims to keep liquidity in the banking system…
ASIC commences civil penalty proceedings against ANZ
ASIC has commenced civil penalty proceedings in the Federal Court against Australia and New Zealand Banking Group Ltd (ANZ) for allegedly misleading its customers as to the available funds and balances in their credit card accounts. ASIC alleges that between May 2016 and November 2018, around 165,750 ANZ customers were charged cash advance fees and…
