AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

The Australian and New Zealand dollars staged a rebound on Thursday as investors took heart after Chinese stocks showed some tentative signs of stemming a rout that has rippled through global markets. Both Antipodean currencies, particularly the Aussie, are often used as liquid proxies for China plays. Major Chinese indices were firmer in morning trade, a big improvement from Wednesday's panic selloff.
The Aussie climbed 0.5 percent to $0.7469, rising from a six-year low of $0.7372. Its New Zealand peer put on 0.1 percent to $0.6737, peeling off a five-year trough of $0.6620 set earlier in the week. Against the yen, the Aussie roared back to 90.47, from a 17-month low around 89.15. Similarly, the kiwi advanced 0.6 percent to 81.67 yen, off a 20-month trough of 80.62 set overnight. Further aiding the Aussie, Australian employment defied expectations and rose for a second month in June, suggesting the labour market was on the mend.
In contrast, mounting expectations for the Reserve Bank of New Zealand to unwind all of last year's interest rate hikes have weighed on the kiwi. Last month, the RBNZ cut the cash rate for the first time since March 2011 as economic growth slowed. The kiwi has already dropped 14 percent versus the greenback since May, but it continues to look shaky as uncertainties about Greece and plunging Chinese share prices fuelled risk aversion.
New Zealand government bonds slipped, nudging most yields half a basis point higher across the curve. The two-year yield rose 1 basis point to 2.68 percent, edging up from a two-year low of 2.66 percent touched on Wednesday. Australian government bond futures also eased as demand for safe-haven assets waned. The three-year contract eased 2 ticks to 98.140, while the 10-year contract shed half a tick to 97.2050.

Copyright Reuters, 2015

Comments

Comments are closed.