By FXEmpire.com
Australian home-loan approvals rose in June by the most this year as buyers responded to the central bank’s 1.25% points of interest-rate cuts since November. The number of loans granted to build or buy houses and apartments gained 1.3% from May, when they fell a revised 0.9%, the statistics bureau said in Sydney today.
The AUD/USD is trading at 1.0549 near recent record highs as the AUD economy has continue to report positive data and the RBA has given a strong assessment of the economy. The RBA held rates earlier this week. Australia, continues to maintain its AAA credit rating with a positive outlook
In the US a report showed that job openings in rose in June to the highest level in four years, indicating employment gains may accelerate in the second half of the year. The number of positions waiting to be filled climbed by 105,000 to 3.76 mln, the most since July 2008, from a revised 3.66 mln the prior month, the Labor Department said yesterday in Washington. Hiring and firings cooled.
In the eurozone, Greece’s credit rating may be cut again by Standard & Poor’s on concern a worsening economy raises the likelihood the troubled nation will need more support from European Union lenders. Although the troika seems to have reached agreements with Greece and the IMF has thrown support behind a plan for creditors to write off Greece’s debt.
UK stocks rose to their highest level in four months, as mining companies advanced and investors speculated that global central banks will introduce measures to stimulate economic growth. The Bank of England will release its most recent inflation numbers today.
In Asian, Chinese stock indexes rose, led by finance and mining companies, before the release of industrial production and inflation data tomorrow as speculation mounted the government will take steps to support equities.
Japanese stocks rose a third day, with the Nikkei 225 Stock Average heading for almost a five-week high, on speculation the Federal Reserve will act to support growth. The yen weakened after Japan posted a bigger-than- expected current account surplus for June, boosting exporters. There seems to be political unrest brewing in Japan and Prime Minister Noda’s government may be forced to face a No Confidence vote.
Gold remained flat after the European Central Bank president said policy makers will do whatever is needed to preserve the euro and amid increasing expectations of further stimulus measures in the US. Some physical “buying” of gold from Europe this week spiked the bullion price, while the amounts have been “quite small” so far. Silver however fell by 0.15%.
Oil fell by 0.38% for the first time in three days in New York on concern that rising economic worries faltering demand of oil, the world’s biggest crude consume. Brent crude squeezed margins and has begun stifling demand from petrochemical makers. Also rumors of an attack on the leader of Syria have keep pressure up this week, along with a hurricane brewing in the gulf region.
Copper rose by 0.13% and traded near the highest on hopes that Chinese Government will initiate some relief stimulus to provide some force to the Chinese economy in the near-term
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Originally posted here
