Australian inflation rate unchanged in May

Source: Marketwatch
Australian inflation rate was flat in May, indicating that further cuts of the interest rates by the Reserve Bank of Australia are possible. The inflation gauge measured by the TD Securities-Melbourne Institute remained unchanged at 131.54 in May, after surging by 0.3% in the preceding month. Considering yearly moves, the inflation gauge gained 1.8% in May, being lower than the central bank's target of 2-3%.

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Mon, 04 Jun 2012 08:17:18 GMT

US auto sales missed expectations in May

US auto sales rose in May on an annual basis but still missed forecasts amid soft economic recovery. The annual sales in May approached 13.8 million vehicles as compared to expectations of 14.5 million. Honda Motor, Nissan Motor and Ford Motor faced an increase in sales of 48%, 21% and 13%, respectively. The auto sector performance coupled with poor labour

Mon, 04 Jun 2012 09:28:18 GMT

Aussie and Kiwi lower on global growth fears

The Australian and New Zealand Dollar depreciated on worries the global growth has been hit by European debt crisis and expansion slowdown in US. The short selling of Aussie hit a record high as traders bet on national currency's drop versus greenback. Australian Dollar lost 0.4% against its US peer to USD 0.9666 while New Zealand Dollar declined 0.2% to USD 0.7530.

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