James Kong

The US Richmond Fed manufacturing index fell from 11 to -2 in August. The sub indices including shipments, service revenues, and retail sales revenues were also in negative territory.

U.S. stocks climbed Tuesday despite drops in consumer confidence and central Atlantic manufacturing conditions, as investors saw the economic weakness as a sign the Federal Reserve may be more likely to introduce more stimulus.

With little to go on the Australian Dollar put in another quiet performance during Asia yesterday, oscillating primarily between 0.9585 and 0.9610.

With a lack of economic releases during the offshore session, the markets were fairly subdued.

In an otherwise quiet session yesterday the Australian dollar managed to once again touch fresh 26-month highs.

The Chicago Fed activity index fell from -0.11 to -0.53 in August. The sub indices of employment, production and income eased in the month. Similarly the Dallas Fed manufacturing index of general business activity fell from -13.5 to -17.5 in September.

U.S. stocks lost steam in the final stretch to finish lower as Wall Street paused from a four week winning stretch even as corporate America engaged in another round of deal making.

US durable goods orders fell 1.3pct in August after a revised 0.7pct gain in July. The decline was largely due to a 40.2pct fall in non-defence aircraft spending.

Last week saw a solid performance from the Australian Dollar, gaining approximately 2.5% in value against the Greenback and closing higher yet again on Friday.

The AUD has opened lower this morning as weak data in Europe overnight saw investor’s pullback from riskier trades.

US existing home sales rose from 13-year lows, up by 7.6pct in August - marginally above expectations. The increase in sales lowered the supply of home on the market from 12.5 months to 11.6 months supply. The US leading indicators index rose 0.3pct.

U.S. stocks dropped Thursday, as weakness in the jobs figures and in European economic data knocked blue chips into the red for the second-straight session.

The Australian Dollar held onto recent gains yesterday and traded quietly throughout the Asian session, hovering between 0.9530 and 0.9574.

ANZ plans to double the amount of branches it has in China, but it faces a tough battle with other foreign banks to pick up local talent. The Australian firm has received approval from Beijing to set up locally incorporated units, which means it can apply for a yuan licence.

Another night in the currency markets and another post GFC high for the Australian Dollar. The US Dollar weakened after the FOMC statement signalled a move to Quantitative Easing “QE”.

US housing starts rose by a sharper than expected 10.5pct in August to a four-month high. Despite the rise housing starts are still 12pct below the levels seen in April, when activity was being boosted by the homebuyer tax credit.

Blue chip stocks finished slightly higher for a fifth-straight session Tuesday, led by Caterpillar, Hewlett-Packard and Intel, after the Federal Reserve hinted it could take additional measures to stimulate economic growth.

The Australian dollar hit a 2 year high overnight, falling just short of USD 0.9500 after positive comments from RBA Governor Glenn Stevens yesterday boosted the local currency.

The US NAHB housing market index remained changed at 13 - the lowest level since March 2009. A reading above 50 indicates that more builders view sale conditions as favourable. The survey´s expectations index for the next six months fell to a 18-month low.

U.S. stocks rallied to their highest level in more than four months as encouraging financial and home builder earnings boosted confidence in the economic recovery.

The Aussie is taking no prisoners so far this week, continuing its rally from yesterday's open of 0.9362 to push through 0.9450 by the end of the Asian session.

The AUD traded up into the mid 0.9400's on Friday evening but has started this week lower around the 0.9370 level as equity markets eased in Europe and the US on concerns of sovereign debt issues in Ireland and Portugal and a weaker consumer confidence survey from the University of Michigan.

US consumer sentiment eased from 68.9 to 66.6 in September, short of forecasts centred on a result near 70.0. US consumer prices rose by 0.3pct in September but the core measure (excludes food and energy) was unchanged in the month.

U.S. stocks climbed narrowly into positive territory on Friday, as technology companies added to the week's modest gains. The Dow Jones Industrial Average rose 13.02 points, or 0.12%, to 10607.85 Friday.

The AUD maintained its bid tone overnight, supported above USD0.9350 amid continuing USD weakness and EUR strength.

US jobless claims fell by 3,000 to 450,000 - the lowest reading in two months.

Technology companies boosted U.S. blue chip stocks to a narrow gain Thursday, as confidence mounted that the economy would avoid a double dip recession.

On Wall St overnight, US stocks clawed back from early weakness to post modest gains after a swathe of economic data came in mostly lower.

After a relatively quiet trading session for the AUD overnight, the local unit continues to retain its bid tone this morning, currently trading just below USD0.9400.