A massive relief rally in world stocks on news of a $1 trillion deal to resolve Europe's debt crisis slowed down on Tuesday in Asia on nagging doubts about how Greece and other debt-laden euro zone countries will reduce their budget deficits.
The AUD is fairly unchanged from yesterday's close to be currently trading around USD0.9030 despite the huge gains posted in the offshore equity markets.
The Australian Dollar opens at 0.8970 today after another turbulent 24 hours.
Car sales in China and India, the world's two fastest growing major markets showed solid growth in April as government incentives and strong economic expansion continued to pull buyers into showrooms.
McDonald's Corp reported a higher-than-expected 4.9 percent rise in worldwide April sales at established restaurants, boosted by strength in Europe, and its shares rose about 4 percent.
Goldman Sachs Group Inc on Monday showed how its trading operations are stronger than ever, but warned that more litigation and investigations loom.
Oil major BP Plc said the oil spill in the Gulf of Mexico had cost it $350 million so far, suggesting the final bill could be much higher than many analysts predicted and sending its shares to a six-month low.
Goldman Sachs Group Inc, facing fraud charges from U.S. securities regulators, on Monday warned that more litigation and investigations could be coming.
The Bank of England kept interest rates at 0.5 percent and made no change to its asset purchase target on Monday, keeping in place stimulus measures designed to nurse the economy back to health.
The Bank of England kept interest rates at 0.5 percent and made no change to its asset purchase target on Monday, keeping in place stimulus measures designed to nurse the economy back to health. The decision was predicted by all 63 economists polled by Reuters, most of whom do not expect interest rates to rise until the fourth quarter of the year at the earliest.
European central banks began buying euro zone government bonds under a $1 trillion global emergency rescue package agreed on Monday, sending the euro and European stocks and bonds surging on relieved markets.
The U.S. Federal Reserve reopened currency swap facilities with other major central banks on Sunday to help ease market strains in Europe.
The euro rebounded from 14-month lows and Asian stocks jumped on Monday after the European Union and IMF carved out an emergency rescue package of up to 750 billion euros ($1 trillion) to keep Greece's debt crisis from spreading through the euro zone.
The euro rallied from last week's 14-month low against the dollar on Monday after European Union leaders agreed on an emergency loan package to prevent Greek's debt crisis from spreading through the region. The package, which with IMF support may reach 750 billion euros, along with measures by central banks to address funding strains and a European Central Bank plan to buy the region's government bonds, calmed nerves after contagion fears triggered a global rout in equities and other risky asset...
The volatility in financial markets continued on Friday's trade but thankfully not to the same extent as seen the previously.
European Union finance ministers on Sunday promised to counter the wolfpack of the financial markets as they sought agreement on a 600 billion euro ($805 billion) plan to keep Greece's debt crisis from spreading.
Disappointing Retail Sales data saw the AUD move lower in Asia yesterday falling from 0.9090 to enter offshore exchange hovering on the precipice of the psychological 90 cent level
European Union finance ministers promised to counter the wolfpack of the financial markets and defend the euro before talks on Sunday on ring-fencing Greece's debt crisis to stop it spreading.
European Union finance ministers called for strong action to ensure stability before they met on Sunday to discuss ways of ring-fencing Greece's debt crisis to stop it spreading to countries like Portugal and Spain.
It seems gold is heading for a perfect future as almost all incidents unraveling across the world in April and May months are helping the yellow metal gain. If you take into consideration the recent developments like the Greece debt crisis, Spain and Portugal economic woes, the Euro situation, China's decision to control the realty sector and the May 7 verdict by India's Supreme Court in the Ambani gas row case, all of this have contributed to the further push of gold in global and India markets...
The Group of Seven rich countries is concerned about Greece's debt problems, a Canadian official said on Friday, and hinted that there may be other countries that will also need help.
A British tax on bank executives' bonuses will cost two of the biggest U.S. banks a combined $1 billion.
