GVI Forex john 21:51 GMT December 1, 2014
BREAKING NEWS
December 1, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Tuesday, December 2, 2014.
Updated: Trading News Events Calendar
HIGH IMPACT NEWS RELEASES: AU- GDP, RBA Decision, GB- Construction PMI, US- Construction Spending
- Far East: AU- GDP, RBA Decision
- Europe: GB- Construction PMI
- North America: US- Construction Spending, API Energy
GVI Forex john 21:35 GMT December 1, 2014
BREAKING NEWS
Weekly
Trading Planner Top Items (GMT):
TUESDAY
1:30 AU GDP
broadest economic measure
4:30 AU Australia
Reserve Bank No rate change seen
9:28 GB Construction
PMI most timely economic reading
15:00 US Construction Spend building measure
WEDNESDAY
8:50 FR SVC
PMI final most timely economic reading
8:55 DE SVC
PMI final most timely economic reading
8:58 EZ
SVC PMI final most timely economic reading
9:28 GB SVC
PMI most timely economic reading
13:15 US ADP
Jobs Predictor of NFP
13:30 US Productivity important metric
14:45 US Markit
SVC PMI most timely economic reading
15:00 CA BOC Rates
Rates seen steady
15:00 US ISM
SVC PMI most timely economic reading
15:30 US EIA Crude top energy metric
19:00 FRB Beige Book Fed economic analysis
THURSDAY
1:30 AU Retail Sales consumer spending
1:30 AU Trade A$bln Export measure
12:00 GB Bank
of England Rates Seen Steady
12:45 EZ Europe
Cntl Bank Rates Seen Steady
13:30 US Initial
Claims timely jobs data
15:00 CA Ivey
PMI most timely economic reading
FRIDAY
10:00 EZ 3Q14
GDP broadest economic measure
13:30 CA Trade
13:30 CA Payrolls
wide employment measure
13:30 US Payrolls
wide employment measure
13:30 US Trade
Export measure
15:00 US Factory Orders production
GVI Forex john 21:31 GMT December 1, 2014
Global-View Trading Systems
Reply
Bollinger Bands Trading System. USD & EUR POSITION TRADING 20 day time frame (Bollinger Band) Support and
Resistance levels are Updated Daily.
WIDER BANDS THAN PIVOTS: ADJUST LEVERAGE ACCORDINGLY
Paris ib 18:40 GMT December 1, 2014
Gold Slide Didn't Last
CB - Truth or dare is right. :-) GOLD doesn't even have to make any gains from here for an outside week up. What a move !!! And the USD still looks like it's under pressure.
nw kw 18:18 GMT December 1, 2014
eurusd
gold will shift its open interest to fx next
GVI Forex Jay Meisler 18:14 GMT December 1, 2014
eurusd
Typically the market trades normally in the first half and then profit taking sets in the week before XMAS. We will see.
nw kw 18:13 GMT December 1, 2014
eurusd
they add for tax man
Tallinn viies 18:09 GMT December 1, 2014
eurusd
Reply
year-end positions liquidation aka profit taking may bring bigger volatility also to eurusd and stock indexes.
dc CB 17:43 GMT December 1, 2014
Gold Slide Didn't Last
Silver is up $2.40+/- off the overnight raid.
Gold $67.
going higher. there has been talk for a few months that Big Players had plans to stand for delivery in the Dec contracts...
Truth or Dare at the Comex/CME
Tallinn viies 17:27 GMT December 1, 2014
eurusd
Reply
platforms I use doesn't show links and most of them do not allow to copy and paste.
RUB stuff may turn very interesting. last time they devalued it massively was it 1998 if I remember it correctly it created lot of mess.
I lost my job then :)
nw kw 17:26 GMT December 1, 2014
crude oil
supper large investment in usa oil they will not go out yet.
london red 17:24 GMT December 1, 2014
crude oil
to put in perspective, jan brent not made higher daily high yet. need nother couple of bucks. if we get it what then? last bullish outside day close came 16th october. signal didnt play out with market failing to move higher during the following sessions, instead reversing sharply lower. a second bullish outside close is more likely to play out given the law of averages. whether one likes crude or not.
Paris ib 17:23 GMT December 1, 2014
crude oil
Starting to look like that for both Gold and Oil. Very interesting, though slightly weird day.
nw kw 17:22 GMT December 1, 2014
crude oil
some are going to short 70.// can tar oil cost 50
jkt abel 17:17 GMT December 1, 2014
crude oil
Reply
bottom in place now with this huge reversal play?
Paris ib 17:13 GMT December 1, 2014
eurusd
viies - It would be good if you just used a link. :-)
There is a little box underneath where you write especially for links. Saves space.
Tallinn viies 17:11 GMT December 1, 2014
eurusd
Reply
DJ Ruble Hits New Low as Oil Prices Drop -- 2nd Update
01-Dec-2014
By Andrey Ostroukh and Chiara Albanese
MOSCOW--The ruble plunged to record lows Monday, amid its sharpest fall this year, as investors sold the currency following a dive in the price of oil--Russia's main source of foreign-currency revenues.
The ruble slid around 6%--its worst daily drop since the 1998 crisis when the currency was devalued and Russia defaulted on its debt--to almost 54 to the dollar in volatile trading, before recovering to around 52 by the end of the main trading session on the Moscow Exchange.
Traders said the recovery seemed to be the result of intervention by the central bank, which doesn't report its activities on the market in real time. The ruble is now down nearly 40% against the dollar this year, making it the second-worst performer in the world. The latest drop spooked other investors, as well, with Russia's benchmark RTS stock index dropping and the cost of insuring the country's debt jumping sharply Monday.
"The ruble is a no-touch as long as oil prices go down. It is all about the oil, and the central bank's slow reaction, as they don't want to burn reserves too fast," said Viktor Szabo, a portfolio manager at Aberdeen Asset Management.
"It's difficult to call the bottom with liquidity so thin and the oil price continuing to slide," said Daniel Wood, portfolio manager at FFTW in London. "Although the oil price is a contributing factor to the currency move, I think that negative sentiment toward Russia is helping to exacerbate the move to current levels."
After spending $30 billion to slow the ruble's slide in October, the central bank last month announced it would allow the currency to float freely, intervening only in if market moves posed a major threat to financial stability. Traders said Monday's action appeared to be the central bank's first sales since announcing the free-float, but were moderate. The sales quickly reversed the market, but weren't big enough to pull the Russian currency back into positive territory for the day.
"The central bank isn't willing to fight external trends," said Egor Fedorov, an analyst at ING Bank in Moscow. 'That is disappointing for a lot of people."
Some major banks reported rising demand among customers for foreign exchange, especially on Monday as the rate plunged quickly through the psychologically important milestone of 50 per dollar.
"To say there is no panic among the population about the situation on the currency market wouldn't be quite accurate," said Alexei Yegorov, chief analyst at Promsvyazbank, a midsize lender. But, he added, "the majority of the economically active population has already converted some of its savings to foreign currency." Other Russians have no savings to speak of, he noted.
With the sharp drop in oil prices, Russia's largest export, central bank officials have been preparing the population for more declines in the ruble. Kseniya Yudaeva, first deputy chairwoman of the central bank, told a group of regional officials that a further drop in oil prices is "highly probable," according to the Interfax news agency. She added that the central bank was now planning for prices to fall as low as $60 a barrel and remain there for a prolonged period--a scenario that only recently had been considered an extreme stress-test.
Ms. Yudaeva said the central bank would intervene to support the ruble only "to prevent panic among the population."
Economists said the central bank's seemingly low-key response to the ruble's plunge suggests the government has decided to let the currency handle the adjustment to the drop in oil prices.
"We suspect that a weaker currency has actually become an important part of the government's strategy for dealing with lower oil prices, and in particular limiting the damage to the public finances," analysts at Capital Economics said in a note.
A large share of Russia's government revenue is effectively pegged to the dollar, since it comes from dollar-denominated taxes on oil. The vast majority of spending is in rubles, however, and doesn't immediately adjust when the currency drops.
As a result, the fall in the ruble can actually ease pressure on the deficit.
With an exchange rate of 50 rubles per dollar and an oil prices of $70 per barrel, the 2015 budget deficit is seen at around 2.2% of gross domestic product. But with an exchange rate of 35 rubles per dollar, seen in early June, next year's deficit would be higher at 5% of GDP, according to Capital Economics.
But the sharp fluctuations in the rate have fueled inflation--which Ms. Yudaeva of the central bank said on Monday could rise to near 10% in the first quarter, the highest rate in years.
"Such rapid fluctuations in the ruble are harmful for the economy. Companies are absolutely not happy about such swings. A 5% one-day change in the ruble rate is killing any financial planning," said Mr. Fedorov at ING.
A poll released on Monday by the Public Opinion Foundation showed that 67% of Russians said in November that they think that the weaker ruble will have an impact on their daily lives. Only 53% of respondents thought so back in October.
VTB24, the retail arm of Russia's second biggest lender VTB, said demand for foreign cash was above average late last week. VTB24 also said it saw deposits in foreign currencies rising to 41% recently from 36% as of Oct. 1.
Write to Andrey Ostroukh at [email protected]
GVI Forex john 17:06 GMT December 1, 2014
CURRENT CONDITIONS: Risk-Off
Reply
1 December-- 17:00 GMT- Current Market Conditions
Markets remain in a
RISK OFF posture
following the release of a slew of final November PMI data. PMI
data
have been mostly negative so far with Eurozone readings
remaining depressed and readings from China looking soft as well. U.K.
manufacturing might have stabilized? North
American data were lackluster as well . Moody's downgraded Japanese
sovereign debt ratings.
- In forex, the USD is lower. The
EUR is mostly weaker on
its key crosses Gold is higher on a "buy the fact" response to
the as expected defeat of the Swiss gold referendum. Oil
prices have rebounded.
- In
the Far East, equities ended mixed. In Japan, JGB yields are
higher following the Moody's downgrade.
- Key European bourses are closing weaker. 10-yr
bund and UK Gilt
yields are mixed. European peripheral bond yields are higher.
- The U.S 10-yr note yield is about steady on the day
U.S. equities are lower.
The
heat map color scheme of interest rates reflects yields.
nw kw 17:05 GMT December 1, 2014
eurusd
bnn.retail down 11% sails for black f
Paris ib 17:01 GMT December 1, 2014
eurusd
viies - WHOA !!
Apple was down 7% at one stage today, before we had a scramble for damage control.
Whatever is going on with Russia is part of a wider geopolitical game and it's not good news down the road. Tensions are high. Russia has all these war games going on, battleships making the rounds, the moron in the Ukraine keeps making pronouncements (which is what I guess Uncle Sam pays him to do).... we have all these ridiculous sanctions (supposedly tied to MH17 - there the enquiry is somewhat mysterious and doesn't even include Malaysia - I mean really there is a credibility issue here). All of this is bad news for the world economy and for stocks.
Meanwhile we have this interesting little Moody's downgrade of Japan today. I saw some idiot pin head make the point that Japan is running a current account deficit so AT THE MARGIN it needs foreign savings to finance its Government. Does that fool realise that Japan is sitting on 1.2 trillion dollars worth of U.S. Treasuries?? And that the U.S. has been running a current account deficit since Nixon ??? The level of ignorance out there is simply staggering. Meanwhile the USD/JPY sold off following the downgrade. Interesting what's happening with capital flows between Japan and the U.S., and it's not in the U.S.'s favour.
nw kw 16:59 GMT December 1, 2014
eurusd
Russian palladium /channel breakout at ap 50fib
Tallinn viies 16:54 GMT December 1, 2014
eurusd
Reply
Paris ib 16:16 GMT
flash crash apple? :))
Russian economy which is 6-th largest by the size by wikipedia...
at one point today RUB was trading approx. 9% lower from previous close.
Paris ib 16:16 GMT December 1, 2014
USD to take a kicking
And an AAPL flash crash? Something is seriously wrong with the market at the moment.
AAPL
nw kw 16:15 GMT December 1, 2014
Gold Slide Didn't Last
Swiss Reject SNB Gold Initiative, SRF Projections Show
nw kw 14:04 GMT 11/30/2014
india- its from cheap oil
Reply
Swiss Reject SNB Gold Initiative, SRF Projections Show
nw kw 14:03 GMT 11/30/2014
http://www.arabianbusiness.com/india-eases-gold-import-rule-in-surprise-move-573538.html
Reply
Paris ib 16:13 GMT December 1, 2014
Gold Slide Didn't Last
Look at Gold !! Talk about a reversal. So I guess the bottom's in now. For a bit anyhow.
London Chris 15:56 GMT December 1, 2014
Global-View Trading Systems
Is anyone trading this CHOP!!
I have not seen many trades posted.
I like the US$ but maybe not so much today.
Paris ib 15:53 GMT December 1, 2014
USD to take a kicking
Reply
USD and stocks look ready to take a kicking. We have gone through all the bullish news - even Moody's couldn't help the USD/JPY.... and now we get to kick the tires on this bull trend.
GVI Forex john 14:31 GMT December 1, 2014
BREAKING NEWS
GLOBAL-VIEW FORUMS ARE EASY TO USE!
Click on the title of any post and you can see the complete discussion of a topic.
For Example, Click on the BREAKING NEWS title and you will get all the data news, charts, calendar posts, etc. for the current week.
GVI Forex john 14:24 GMT December 1, 2014
CURRENT CONDITIONS: Risk-Off
Reply
WE NEGLECTED TO POST THIS EARLIER
1 December-- 10:15 GMT- Current Market Conditions
Markets are starting the new week in a RISK OFF posture
following the release of a slew of final November PMI data. Data
have been mixed to negative so far with Eurozone readings
remaining depressed and readings from China looking soft as well. U.K.
manufacturing might have stabilized? More PMI are due from North
America later. Moody's downgraded Japanese sovereign debt ratings a
short while ago
- In forex, the USD closed mostly lower. The
EUR is mostly weaker on
its key crosses Gold is higher on a "buy the fact" response to
the as expected defeat of the Swiss gold referendum. Oil
prices are softer.
- In
the Far East, equities ended mixed. In Japan, JGB yields are
higher following the Moody's downgrade.
- Key European bourses are weaker. 10-yr
bund and UK Gilt
yields are mixed. European peripheral bond yields are higher.
- The U.S 10-yr note yield has eased further .
U.S. equities are lower.
The
heat map color scheme of interest rates reflects yields.
GVI Forex Jay Meisler 13:59 GMT December 1, 2014
Global-View Trading Systems
EUR resistance
1.2489, 1.2498, 1.2523, 1.2530
High so far 1.2486
GVI Forex john 13:39 GMT December 1, 2014
Global-View Trading Systems
EURUSD
R2 1.2478 breached (HOD 1.2485)
R3 1.2518
1.2500 remains key psychological Resistance
Pivot= 1.2453
NY JM 13:23 GMT December 1, 2014
GBPUSD
Outside day....close vs. Friday's 1.5739 high is now important
jkt abel 12:52 GMT December 1, 2014
usdcad
Reply
heading to 1.1570 IMHO
HK [email protected] 11:48 GMT December 1, 2014
Black Friday Sales
This Monday business was slower than the previous one.
Some in the US are expecting acceleration in sales towards Dec. 20.
But I will allow myself to suggest, that by X'mas stores will just be empty.
Just celebrate this X'mas with a hamburger:[
GVI Forex john 11:41 GMT December 1, 2014
Black Friday Sales
Reply
Retail Sales Foundation reports Retail Sales DECLINED 11% from year ago levels. This is despite anything you heard on Friday on CNBC. I don't think this is necessarily predictive of the entire season as sales might have been spread out.
HK [email protected] 11:40 GMT December 1, 2014
BREAKING NEWS
CO₂+H₂O---> Fuel ?????
The only one doing it daily, are plants. Why not plant sugarcane and produce alcogas.
Sounds bullsh!t. CO₂ and H₂O are combustion products of fuel, so one has to put back energy to get it back into fuel.
eu pat 11:39 GMT December 1, 2014
usd/jpy
Too early entry last friday ( end of month-rebalansing to USD)
Selling again, sl 25 pips above high..could be one more atack
They buy all the dips, but ...
Stock should fall, oil stabilize , USD is near fall, then road down will be open.
GVI Forex Jay Meisler 10:42 GMT December 1, 2014
GBPUSD
Reply
Would need close above 1.5739 for an outside day key reversal
Range so far 1.5584-1.5713
Paris ib 10:17 GMT December 1, 2014
Gold Slide Didn't Last
Reply
Funny moment in the market. Post Swiss referendum we had the slide but now Gold is up.... very nervous market. USD under pressure again.
Syd 10:07 GMT December 1, 2014
DJ Oil Slide Deepens, Ruble Crumbles -- Update
Reply
Commodities were firmly in control of global markets Monday, with a slump in metals and oil shaking up assets and currencies around the world.
Brent crude oil dropped more than 3.5% to $67.53 a barrel before picking up slightly to $69.06, as last week's decision by the Organization of the Petroleum Exporting Countries to leave its output target unchanged continued to rattle markets.
The Russian ruble, closely linked to oil because energy accounts for a big portion of the country's exports, slumped to a fresh record low of 52.55 to the dollar, nearly 5% weaker on the day. The Nigerian naira also hit a record low against the buck.
"The after effects of OPEC's stunning decision have continued to reverberate through asset prices," said analysts at Barclays.
In a further setback for beleaguered commodity markets, gold and silver prices tumbled Monday after Swiss voters rejected a proposal to increase the central bank's gold holdings. The initiative would have forced the country's central bank to hold one-fifth of its assets in gold.
Gold fell by 1.7% to $1,155.20 a troy ounce in early European trade. The decline in silver prices was even sharper, with the precious metal sliding more than 3%.
Adding to Monday's gloom were further signs of weakness in China's economy. An official measure of manufacturing activity slipped to its lowest since March, while a separate gauge compiled by HSBC and research firm Markit touched a six-month low.
Elsewhere, a downgrade of Japan's credit rating by Moody's Investors Service only briefly dented the yen, which quickly rebounded from a seven-year low against the dollar to rise 0.4%. Although a rating cut often hurts a country's currency, the yen tends to rise in times of market stress because it is seen by investors as a safe harbor.
The Nikkei stock index had closed for the day before the announcement, closing 0.8% higher at a seven-year high.
Stock markets in Europe dropped, with the Stoxx Europe 600 down 0.9%.
Energy stocks once again led declines, with oil and gas firms on the index down 2.4%. Airlines, which benefit from cheaper oil, climbed, with travel and leisure companies bucking the wider trend to rise 0.3%.
Markets extended declines after manufacturing data for the eurozone showed a slower-than-expected pace of expansion in November.
In the U.S., stock futures pointed to a 0.7% opening loss for the S&P 500. Changes in futures aren't necessarily reflected in market moves after the opening bell.
Investors are looking ahead to Thursday's European Central Bank meeting, with expectations building that officials will signal a strong intention to expand their asset purchase program to try and boost anemic rates of inflation and jump-start a flagging economy.
Weakness in commodities has acted as a drag on prices, piling further pressure on central bankers in the eurozone and elsewhere.
"The immediate focus will remain on cheaper oil; good news for consumers and for those companies benefiting from reduced input cost pressures, less so for central bankers wrestling with disinflationary concerns," said Ian Williams, an economist and strategist at brokerage Peel Hunt.
Government bonds in the eurozone hit fresh record highs amid expectations of further ECB easing. Germany's 10-year yield was just below 0.7% in early trade, a new low. Yields fall as prices rise.
GVI Forex Jay Meisler 09:53 GMT December 1, 2014
YEN
It would take a break/close below 117.70 for an outside day key reversal
Range so far 119.13 - 118.07
as risk off takes over
Keeps a bid as long as 118+ but earlier longs sucking wind
GVI Forex john 09:46 GMT December 1, 2014
BREAKING NEWS
EARLIER: Swiss PMI weakens
london red 09:44 GMT December 1, 2014
Yen
Reply
10 day ma at 11795, most recent bounce likely bid frontrunning this. If falls again and below then 11768/50 should support with stops under last weeks low of 11723. A break below there would surprise and have folking dumping. But further support at 115/114 region the place to buy.
GVI Forex john 09:39 GMT December 1, 2014
BREAKING NEWS
Japan Charts
EARLIER: Final Japanese PMI. flash PMI revised down slightly...
PAR 09:25 GMT December 1, 2014
Stock Markets
Reply
Another new record high close in NY tonight ? Probably yes .
GVI Forex john 09:20 GMT December 1, 2014
BREAKING NEWS
More Charts: http://goo.gl/YKFTSK
China PMIs falling.
PAR 09:07 GMT December 1, 2014
ECB
Reply
It is illegal for the ECB to buy government bonds . The european Union is not a transfer Union . It is like the FED would buy bonds from California or New York everytime they run into trouble . Also in the USA states are responsible for their own budgets so Europe is not really that different .
GVI Forex john 08:54 GMT December 1, 2014
BREAKING NEWS
China Final PMIs November 2014
EARLIER: China PMI's
NBS: 50.3 vs. 50.5 exp vs. 50.8 prev.
HSBC: 50.0 vs. 50.0 exp. vs. 50.0 flash
TTN: Live News Special Offer
GVI Forex 08:47 GMT December 1, 2014
BREAKING NEWS
Reply
Moodys doWgrades Japan Sovereign Debt rating
Sydney ACC 08:14 GMT December 1, 2014
AUD Staring Down a Black Hole
Capital city house price growth continued to slow in November, with only Sydney, Brisbane, Perth and Hobart showing any month-on-month advance, according to the latest report from CoreLogic RP Data.
Nationally, prices slipped 0.3 per cent, although this masked growth of 1 per cent in Sydney, 0.9 per cent in Perth and small advances in Brisbane and Hobart.
For the three months to the end of November, national price growth was 0.8 per cent, while the year-on-year change was 8.5 per cent. Melbourne prices declined 2.6% in November, 1.6% over the quarter yet rose 8.3% year on year.
The slowdown, the result of a deluge of new-build dwelling stock, fatigue on the part of investors and first home buyers, and broader concerns about the economy.
Read more: http://www.smh.com.au/business/markets-live/markets-live-oil-crash-hits-shares-hard-20141201-3ljsk.html#ixzz3KdEcE8PF
Paris ib 07:35 GMT December 1, 2014
AUD Staring Down a Black Hole
Reply
As the AUD copes with the collapse in commodity prices and the fall out from the Chinese growth story (emphasis on story), the other leg supporting the Australian economy, property, is starting to look fragile again. As are Australian banks:
"A couple of months ago, Prosper Australia....... alleged the Big Four had manipulated prudential regulation APS 210 by lending each other short-term collateral and deceptively declaring it to be Tier 1 capital. Hence, it is possible a significant proportion of the banks’ already tiny capital buffers are bogus."
With the AUD sitting at 0.8440 there is more downside coming, particularly on the crosses.
Safe as Houses?
dc CB 07:23 GMT December 1, 2014
OOOOO NOOOO
How in the World are those guys at the NYFED Overnight FuturesRampSociety going to pull this one out of the Dive...when actual ---AKA energy companies---are taking a BIG hit.
EasyPeasy wid' 'does Fake Internet--Count the Abused-Users-...But like 'dis is da real thing.
REAL MONEY not like Farmville. or Twitters OUCH
dc CB 07:10 GMT December 1, 2014
LOL at WTF: Dig Up Steve Jobs and he'll save Apple
Reply
I have a cramp
please stop
with the irony
I posted it as a JOKE
+++++++++++++++++++++++++++++
SAN FRANCISCO — Three years after his death, Steve Jobs is very much a presence in courtrooms across the country.
And that’s not necessarily good news for Apple.
In December, the company is set to go to trial in the third major antitrust lawsuit it has faced since Mr. Jobs died.
Star Witness in Apple Lawsuit Is Steve Jobs
Syd 05:58 GMT December 1, 2014
The Australian dollar tumbled to a fresh four-and-a-half-year low Monday in line with a falling gold
Reply
The Australian dollar tumbled to a fresh four-and-a-half-year low Monday in line with a falling gold price and news of soft Chinese manufacturing data.
At 0545 GMT, the Australian dollar was changing hands at US$0.8451, down from US$0.8520 late Friday. It traded as low as US$0.8417.
A Swiss national referendum to compel the country's central bank to hold at least 20% of its assets in gold failed over the weekend. The outcome implied gold supply to the world market will not be restricted in the future by Swiss buying, prompting a sell-off and driving down its price.
Currency traders said the Australian dollar still has a strong correlation with movements in gold, despite the metal now being less important in the country's export basket than a decade ago.
Gold's weakness comes on top of sharp falls in the prices paid for copper and iron ore.
"The Australian dollar seems to have rediscovered its status as the clear proxy of global growth and is looking really ugly on multiple time frames," said Chris Weston, strategist at IG Markets.
Meanwhile, the Chinese economy likely continued to weaken in November amid signs manufacturing had lost momentum.
China's official measure of manufacturing activity slipped to its lowest showing since March while a private gauge compiled by HSBC and research firm Markit touched a six-month low, according to data released Monday.
The Reserve Bank of Australia will convene a board meeting Tuesday, when it is expected to keep its cash rate target unchanged at 2.5%, where it has been for well over a year.
Still, there will be added interest in the statements made by the central bank after its Deputy Governor Philip Lowe nudged the door slightly wider to a further interest rate cut last week.
Mr. Lowe said there was room to cut if it became needed and there would be some benefit derived from it for the broader economy.
One of the barriers to a further cut in rates, surging house prices, eased in November.
Australian capital city house prices fell 0.3% in November from October, slowing the pace of increase to 8.5% annually, it's slowest recorded so far in 2014.
Melbourne, a hot spot for house price growth, recorded a 2.6% fall in November from October, slowing the annual rate of increase to 8.3%, from closer to 12% midyear.
Sydney prices, which have led the boom, continued to rise, but only by 1.0% in November, slowing the annual pace to 13.2%, from around 15% just a few months ago.
"It places some more weight on the argument that Australian yearly house price growth has peaked," said Paul Brennan, chief economist at Citigroup.
Syd 05:23 GMT December 1, 2014
Date of Return to Australia Budget Surplus Is 'Completely Unknown' -- Market Talk
Reply
One of Australia's most respected commentators on budgetary matters, Chris Richardson, an economist at Deloitte Access Economics, says it is now unknown when the federal budget will return to a surplus, given falling commodity prices and the inability of the conservative coalition government to get its agenda of spending cuts and other measures through a hostile Senate. Mr. Richardson says the tax revenues enjoyed during the decadelong mining boom have gone, and the road to surplus "is completely unknown." "The world is not doing the budget any favors, the Senate is not doing the budget any favors." Mr. Richardson said given that the government doesn't appear to be investigating a new road to budget repair, "it essentially means we are giving up." There are no guarantees that Australia will extend much further its record of 23 years-plus without a recession, and budget repair is needed, he said.
Mtl JP 03:04 GMT December 1, 2014
China
China doing a balancing act desperately trying to head off a ploink into economic toilet
Apparatchicks probably under orders to concoct new tacticals in trade, fiscal and ccy wars
GVI Forex 02:03 GMT December 1, 2014
China
Reply
MNI: CHINA NOVEMBER HSBC FINAL PMI 50.0 VS FLASH READING 50.0
Hong Kong AceTrader 01:57 GMT December 1, 2014
AceTrader Dec 1: Intra-Day News and Views (AUD/USD) & data to be released today
Reply
Intra-Day Market Moving News and Views
01 Dec 2014
01:46 AUD/USD - 0.8430 ... Australian dollar nose-dived against U.S. dollar due to the sharp sell off in crude oil prices. Stops below 0.8480 were triggered in New Zealand morning today and price fall to 0.8444 and then to a fresh 4-year low at 0.8417 in Asian morning.
Crude oil prices fell $1.41 to 64.74 following last Friday's more than 8% sell off.
Offers are now tipped at 0.8450-60, 0.8480 and more at 0.8490/95.
On the downside, some bids are located at 0.8410-00 with stops seen below 0.8400.
This week will see the release of the following economic data:
New Zealand's Terms of Trade, Japan's Business Capex, China's NBS Manufacturing PMI, Japan's Manufacturing PMI, China's HSBC Mfg PMI Final, Swiss Manufacturing PMI, Germany's Markit/BME Mfg PMI, eurozone Markit Mfg Final PMI, UK Markit/CIPS Mfg PMI, Mortgage Approvals, M4 Money Supply and Mortgage Lending, CAnada's RBC Mfg PMI, US Markit Mfg PMI Final and ISM Manufacturing PMI on Monday;
Australia's Building Approvals and Current Account Deficit, RBA rate decision and statement, UK Markit/CIPS Cons PMI, eurosone Producer Prices, US Redbook, ISM-New York Index and Construction Spending on Tuesday;
Australia's GDP, China's NBS Non-Mfg PMI and HSBC Services PMI, Swiss GDP, Germany's Markit Services PMI, eurozone Markit Services Final PMI, UK Markit/CIPS Serv PMI, eurozone Retail Sales, US ADP National Employment, Productivity Revised, Markit Comp Final PMI, ISM N-Mfg PMI, Bank of Canada Rate Decision and Statement, US Fed's Beige Book on Wednesday;
Australia's Retail Sales and Trade Balance, UK Halifax house prices, Swiss Industrial Orders, Bank of England rate decision, ECB rate decision, US Initial jobless claims, Canada's Ivey PMI on Thursday;
Japan's Leading Indicator, Germany's Industrial Orders, UK Consumer inflation expectations, eurozone revised GDP, US Non-Farm Payrolls, Unemployment Rate and Average Earnings, Canada's Unemployment Rate, Employment Change and Trade Balance, US Factory Orders and Durable Goods on Friday.
nw kw 01:26 GMT December 1, 2014
OOOOO NOOOO
Adviser to Japan's PM Koichi Hamada says Abenomics has been successful; says that sales tax rise wasn't part of Abenomics
dc CB 00:17 GMT December 1, 2014
OOOOO NOOOO
NO THAT WAS NOT A TRIPPLE PUNCH
Your bad
Minneapolis DRS2 00:16 GMT December 1, 2014
audusd
SF WM 21:59: Why not?
Enjoy the weakness for what it is, and buy some.
dc CB 00:16 GMT December 1, 2014
OOOOO NOOOO
Reply
I need to call...ah who do I call....my 401K is set to put Another months worth of my money into STOX tomorrow...what time do I have to stop it from happening. Lordy Lordy, it was looking so good...I put in a contract for a new house. Lordy Lordy..I shudda Sold....I Shudda Sold
Dey Not be buyin' at da stores
dc CB 00:16 GMT December 1, 2014
OOOOO NOOOO
Reply
I need to call...ah who do I call....my 401K is set to put Another months worth of my money into STOX tomorrow...what time do I have to stop it from happening. Lordy Lordy, it was looking so good...I put in a contract for a new house. Lordy Lordy..I shudda Sold....I Shudda Sold
Dey Not be buyin' at da stores
dc CB 00:16 GMT December 1, 2014
OOOOO NOOOO
Reply
I need to call...ah who do I call....my 401K is set to put Another months worth of my money into STOX tomorrow...what time do I have to stop it from happening. Lordy Lordy, it was looking so good...I put in a contract for a new house. Lordy Lordy..I shudda Sold....I Shudda Sold
Dey Not be buyin' at da stores
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