INFLATION

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Daily Forecast - 18/11/2009

Third quarter Wage Cost Index data came in right on expectations increasing by 0.7% for the quarter and 3.6% on an annualised basis keeping the Aussie between 0.9290 and 0.9320 during morning trade. A story on Bloomberg quoting Chinese Central Bank adviser Fan Gang, who also heads the National Institute of Economic Research, as saying double digit growth in China would not be good as it poses a risk of promoting a property and commodity market bubble put a dampener on the AUD. With Chinese eco...

U.S. housing starts fall sharply, inflation edges up

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Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.

Fed's Bullard: Shrinking reserves key to exit

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A senior U.S. Federal Reserve official said on Wednesday the central bank may start tightening financial conditions by adjusting its extensive purchase programs, rather than by raising interest rates.
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Consumer Prices: Up in October

The Consumer Price Index for All Urban Consumers was up 0.3 percent in October, according to a monthly report from the U.S. Labor Department.
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Gold hits record near $1,150/oz as dollar slips

Gold hit a fresh record high near $1,150 an ounce on Wednesday, boosting precious metals across the board, as a dip in the dollar index added to momentum buying as prices broke through key technical resistance levels.
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Dollar retreats, sterling slips after BoE minutes

The dollar weakened broadly on Wednesday as dealers took profit on the currency's biggest rise in three weeks the previous session and pushed the euro back to the middle of its range of the last fortnight.
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Dollar slips; mkt eyes US CPI, BoE for direction

The dollar eased back on Wednesday from its biggest rise in three weeks the previous session, as traders awaited U.S. inflation data and minutes from the Bank of England's November meeting for further direction.
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Gold soars to record high, stocks rise

Gold prices hit a record high and oil and stock prices around the world rose on Wednesday, while the dollar eased off ahead of U.S. inflation data and minutes from the Bank of England's November meeting.
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Fed officials differ on recovery's pace

Top Federal Reserve officials on Tuesday struck differing notes on the likely pace of the U.S. economic recovery and one warned that pockets of weakness must not deter the central bank from withdrawing its extraordinary economic support.
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Industrial output growth slows, inflation quiet

U.S. industrial output barely rose last month and wholesale inflation was tame, suggesting the economy's recovery from a severe recession was losing some steam as government stimulus faded.
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Daily Forecast - 18/11/2009

Yesterday's release of the RBA board minutes from the November 3 0.25% interest rate rise cast some doubt as to the scale of the current wave of Monetary Policy tightening. In the minutes the central bank said ...further gradual adjustment in the cash rate would most likely be appropriate over time, though the pace of the adjustment remained an open question. The market had been looking for more aggressive wording given the hikes already priced in for 2010 and were somewhat disappointed by the...
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Fed's Lacker: Weak patches can't derail exit

A senior Federal Reserve official said on Tuesday that the U.S. central bank must remain vigilant about keeping inflation in check and not let patchy economic weakness deter it from beginning to withdraw extraordinary levels of support.
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Producer prices point to benign inflation

U.S. producer prices rose more slowly than forecast in October and unexpectedly fell excluding food and energy, a government report showed on Tuesday, pointing to tame inflation pressures.
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Producer prices up in October

U.S. producer prices rose more slowly than expected in October despite a rebound in food and energy costs, according to a government report on Tuesday that pointed to tame inflation pressures.
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Asia shares, gold, oil ease as dollar in focus

Asian shares, gold and oil eased on Tuesday as investors locked in recent gains while keeping an eye on the ailing dollar, which was pinned near 15-month lows on expectations that U.S. interest rates will stay extremely low for some time.
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Fed eyes dollar drop, but hews to low-rate pledge

Federal Reserve Chairman Ben Bernanke, in a rare comment on the U.S. dollar's value, on Monday acknowledged the currency's slump was causing some prices to rise, but said other factors restraining inflation were winning the day.
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Fed's Kohn sees no asset bubbles building in U.S.

The Federal Reserve's low interest rate policy is meant to encourage investors to move into riskier assets in order to promote economic recovery, and there are no signs currently the policy is resulting in the build-up of a U.S. asset bubble, the central bank's number-two official said on Monday.
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Bernanke watching dollar drop closely

The U.S. central bank is monitoring the declining value of the dollar closely as part of its commitment to both jobs growth and price stability, Federal Reserve Chairman Ben Bernanke said on Monday.
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Daily Forecast - 17/11/2009

With no local economic data released yesterday the Australian dollar bounced around between 0.9320 and 0.9350 for the majority of the Asian day searching for direction. The directionless trade continued well into the evening and throughout the European session only coming to life in North American exchange. Consumer Spending data out of the U.S surprised to the upside triggering a surge in demand for equities and riskier assets in general which benefited the Aussie dollar. At its peak the AUD/US...
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Fed's Bernanke watching dollar drop closely

The U.S. central bank is monitoring the declining value of the dollar closely as part of its commitment to both jobs growth and price stability, Federal Reserve Chairman Ben Bernanke said on Monday. In a rare commentary on the value of the dollar, Bernanke drew a link between its current weakness and inflation risks.
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Bernanke says watching dollar drop closely

Federal Reserve Chairman Ben Bernanke said on Monday that the U.S. central bank was monitoring the declining value of the dollar closely, saying the Fed was committed to both jobs growth and price stability.
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Japan extra stimulus likely, GDP fails to convince

Japan's government inched toward agreeing new stimulus measures that could be worth $30 billion on Monday as economic growth is likely to slow next year due to sluggish personal spending and rising inventories.
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China 2010 GDP growth seen at 8.5 percent

China's economy is expected to grow by a modest 8.5 percent next year while inflation will be subdued at about 2.5 percent, indicating that monetary policy should remain appropriately loose to solidify the basis of the recovery, a key government think-tank said on Monday. The State Information Center added that the risks of rapid credit growth could be contained and that a tightening of monetary ...

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