Aussie and Kiwi decline on interest rate cut and S&P warnings

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Source: Bloomberg
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Australian dollar dropped against all of his main counterparts as the Reserve Bank of Australia lowered benchmark borrowing costs by 25 b.p. for a second consecutive month. Australian dollar lost 0.9% against US dollar reaching $1.0181 in Sydney trade. New Zealand's currency also depreciated after Standard & Poor's placed 15 euro-area countries on watch negative. Kiwi gave up 0.5% against US dollar to $0.7761.

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Tue, 06 Dec 2011 08:01:26 GMT

Canada likely to keep interest rate unchanged

Economists surveyed by Bloomberg predict Bank of Canada will leave its key interest rate untouched today as country's price stability and economic growth are threatened by European debt crisis. Economists expect Canadian central bank to keep interest rate at 1%, unchanged since September 2010. Some investors are speculating Bank of Canada may cut the rate next year.

Tue, 06 Dec 2011 08:04:58 GMT

Esprit stocks plunge as CEO resigned

Clothing retailer Esprit Holdings Ltd. which is struggling to recoup from massive drop in profits experienced biggest drop in stock price since October 12. Esprit Holdings Ltd listed in Hong Kong lost 10.7% after its CEO Chew Fook Aun reported his resignation. Esprit shares are 71% down on a yearly basis. Chew Fook Aun explained he is leaving due to personal reasons. 

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