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NZ Dollar Declines Against Australian Dollar
The New Zealand dollar slipped against the Australian dollar in Asian deals on Monday.
The kiwi fell to 1.0897 against the aussie, compared to last week's closing quote of 1.0859. Further downtrend may lead the kiwi to seek support at the 1.097 area.
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Indian Rupee Falls To 2-day Low Against U.S. Dollar
The Indian rupee weakened against the U.S. dollar in morning deals on Thursday.
The rupee fell to a 2-day low of 61.915 against the greenback. Further weakness could help the rupee to find support at the 62.6 area.
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Japan November Unemployment Rate 4.0%
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The unemployment rate in Japan came in at a seasonally adjusted 4.0 percent in November, the Ministry of Internal Affairs and Communications said on Friday - unchanged from the previous month but missing forecasts for 3.9 percent.
The job-to-applicant ratio was 1.00, topping expectations for 0.99 and up from 0.98 in October.
The total number of employed persons in November was 63.71 million, an increase of 740,000 or 1.2 percent on year.
The total number of unemployed persons in November was 2.49 million, a decrease of 110,000.
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Swiss Franc Trades Lower Against Majors
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The Swiss franc drifted lower against its major opponents in the Asian session on Thursday.
The franc reached a 6-day low of 0.8937 against the greenback and 2-day low of 117.83 against the yen, off an early high of 0.8909 and a 2-day high of 118.24, respectively.
The franc declined to 1.4822 against the pound, its lowest level since December 4. Against the euro, the franc reached a new 4-week low of 1.2287.
The franc is likely to face support around 116.00 against the yen, 1.49 against the pound, 1.235 against the euro and 0.905 against the greenback.
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Usd/krw to Open Around 1054.00 on Higher Ndfs
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JPY/KRW reversed abv 10.0 on profit taking, last 10.0200
Resistance at 1060 to remain strong on exporters sales
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Euro Trades At 5-week Low Against Canadian Dollar
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The euro lost ground against the Canadian dollar in Asian trading on Monday.
The euro depreciated to 1.4416 per loonie, a level not seen since December 3. This is lower by 0.2 percent from Friday's closing quote of 1.4451. The euro may face support at the 1.43 zone.
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Australian Dollar Drops To 4-day Low Against Yen
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The Australian dollar declined against the Japanese yen in early Asian deals on Tuesday.
The aussie touched a 4-day low of 93.19 against the yen, down by 0.3 percent from Monday's closing value of 93.44. If the aussie extends slide, it may break support at the 92.00 zone.
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Australian Dollar Drops To 4-day Low Against Yen
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The total number of job vacancies in Australia dropped 14.9 percent on year in November, the Australian Bureau of Statistics said on Wednesday, falling to 140,000.
Compared to the previous three months, total job vacancies eased 0.3 percent after rising 3.1 percent in the three months to October.
Private sector job vacancies dipped 0.1 percent in the past three months and 15.1 percent on year, falling to 129,500. Public sector job vacancies dropped 3.6 percent in the last three months and 12.8 percent on year, falling to 10,500.
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China Inflation +2.5% On Year In December
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Consumer prices in China were up 2.5 percent on year in December, the National Bureau of Statistics said on Thursday - below forecasts for 2.7 percent and slowing from 3.0 percent in November.
Producer prices were down 1.4 percent on year - unchanged versus forecasts for -1.3 percent.
For all of 2013, consumer prices were up 2.6 percent on year and producer prices dipped 1.9 percent on year.
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NZ Dollar Drops To 1-week Low Against Euro
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Extending its overnight downtrend, the New Zealand dollar reached a weekly low of 1.6522 against the euro on Friday morning in Asia.
With the pair staying above its key simple moving average levels, the next likely support for the kiwi is seen around the 1.6565 area.
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Yen Climbs To 4-day High Against Franc
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The Japanese yen strengthened against the Swiss franc in early Asian deals on Monday.
The yen reached a 4-day high of 115.15 against the franc, compared to Friday's close of 115.30. The next possible upside target for the yen lies around the 114.00 zone.
News are provided by InstaForex.
Usd/krw Trades up to 1059.7 As Tokyo Goes on Usd buying Spree
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US Dollar strong across the board led by latent USD demand out of Tokyo USD/JPY up to 103.43, UK name, Japan mega bank amongst aggressive buyers.
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Pound At 2-day High Against Euro
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The pound strengthened against the euro in Asia on Wednesday. The pound hit a 2-day high of 0.8305 against the euro, up from yesterday's closing quote of 0.8319. Further uptrend could help the pound to face resistance around the 0.82 zone.
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UK House Price Balance Dips To 56% - RICS
An index monitoring house prices in the United Kingdom came in with a score of 56 percent in December, the latest survey from the Royal Institution of Chartered Surveyors revealed on Thursday.
That was shy of forecasts for 60 percent, and down from the reading of 58 percent in November - although the index remained above 50 percent for the fourth consecutive month.
Among the individual components of the survey, expectations for an increase in house prices climbed to 61 percent from 59 percent in the previous month.
Also, the sales-to-stock ratio climbed to 35.2 percent from 34.6 percent a month earlier.
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Japan Govt. Upgrades Economic Assessment
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The Japanese government on Friday revised up its assessment of the economy for the first time in four months, as recovery picked up on the back of improvement in household income and business investment.
"The Japanese economy is recovering at a moderate pace," the Cabinet Office said in its monthly report.
The report noted that the economy may continue to recover as household income and business investment increase.
It also noted that exports were in a weak tone recently. However, industrial production is increasing at a moderate pace, according to the Cabinet Office.
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Yen Little Changed Following Japan Industrial Production Data
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After the release of Japan's final industrial production data for November in Asian deals on Monday at 11:30 pm ET, the yen changed little against other major currencies.
The yen was trading at 104.05 against the greenback, 170.76 against the pound, 140.76 against the euro and 114.13 against the franc around 11:33 pm ET.
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Hong Kong CPI On Tap For Tuesday
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Hong Kong will on Tuesday release December figures for inflation, highlighting a light day for Asia-Pacific economic activity. Overall inflation is expected to ease to 4.2 percent on year from 4.3 percent in November. Japan will see December numbers for condominium sales and supermarket sales; in November, they were up 22.3 percent and 0.7 percent on year, respectively.
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Yen Rises After BOJ Rate Decision
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The Bank of Japan kept monetary policy on hold in its decision in Asian deals on Wednesday. Following the announcement, the yen edged up against other major currencies.
The yen was trading at 104.23 against the greenback, 171.82 against the pound, 114.59 against the franc and 141.51 against the euro around 10:30 pm ET.
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U.S. Dollar Advances Against Most Majors
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The U.S. dollar strengthened against most major opponents in early Asian deals on Thursday.
The greenback rose to 104.84 against the yen for the first time since January 16.
The greenback advanced to 2-day highs of 0.9135 against the franc and 1.3530 against the euro, compared to yesterday's closing quotes of 0.9114 and 1.3547, respectively.
The next possible resistance for the greenback is seen around 0.92 against the franc, 1.345 against the euro and 105.6 against the yen.
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Malaysian Ringgit Hits 3-1/2-year Low Against U.S. Dollar
The Malaysian Ringgit drifted lower against the U.S. dollar in Asian deals on Monday. The ringgit touched 3.3465 against the greenback, a level unseen since June 2010. The ringgit may find support at the 3.36 mark. At last week's close, the pair was worth 3.3345.
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Chinese Industrial Profit Rise In 2013
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China's industrial profits increased 12.2 percent in 2013 from the previous year, the National Bureau of Statistics said Tuesday.
Profits were up 13.2 percent during eleven months ended November.
In December alone, combined profits of industrial firms grew 6 percent to CNY 942.5 billion. But it was slower than the 9.7 percent growth posted in November.
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Swiss Franc Slides To 5-day Low Against Euro
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Retracing early gains, the Swiss franc slipped against the euro in Asian trading on Wednesday.
The franc declined to a 5-day low of 1.2295 per euro, off an early high of 1.2261. The franc is likely to face support at the 1.235 mark. The pair traded at 1.2270 at yesterday's close.
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Philippine GDP Growth Slows In Q4
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The Philippine economy grew at a slower pace in the fourth quarter, data from the National Statistical Coordination Board showed Thursday.
Gross domestic product rose 6.5 percent in the fourth quarter from last year, down from the revised 6.9 percent expansion registered in the previous quarter. Nonetheless, the rate exceeded the 6 percent consensus.
From the third quarter, seasonally adjusted GDP increased 1.5 percent, data showed. For 2013 as a whole, the economy grew 7.2 percent from the previous year.
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Day ahead in the Fx Market
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TUESDAY, FEB. 4 (GMT):
0330 - AUSTRALIA RBA CASH RATE FOR FEBRUARY Reserved Bank of Australia (RBA) cash rate for February is expected to have remain at 2.50 percent. 2145 - NEW ZEALAND HLFS UNEMPLOYMENT RATE FOR Q4 Jobless rate for Q4 is expected to rise 6.0 percent compared with a rise of 6.2 percent in Q3.
2145 - NEW ZEALAND HLFS JOB GROWTH FOR Q4 Job growth for Q4 is expected to rise 0.6 percent compared with a rise of 1.2 percent in Q3.
2145 - NEW ZEALAND LABOUR COST INDEX FOR Q4 Fourth quarter labour cost index data is expected to rise 1.7 percent from a year earlier, compared with a rise of 1.6 percent in Q3. Labour cost index for Q4 is expected to rise 0.6 percent, quarter-to-quarter, compared with a rise of 0.4 percent in previous quarter.
2145 - NEW ZEALAND HLFS PARTICIPATION RATE FOR Q4 Participation rate for Q4 is expected to have remain at 68.6 percent.
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Fed's Rosengren: fED Balance Sheet Would Shrink Quickly Without Sales
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"Our intention is to get back to a more normal size balance sheet," Boston Fed President Eric Rosengren said at a Florida conference, acknowledging the risk that interest rates are likely to rise in the future, leading to possible losses on the balance sheet that is now worth $4 trillion and growing.
"If we stopped purchasing mortgage backed securities, that part of the balance sheet comes down actually relatively quickly," he said.
As for the purchases of longer-term Treasury bonds, Rosengren said that side of the balance sheet also declines "surprisingly quickly by just not doing any purchases and not reinvesting."
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Malaysia's Manufacturing Sales Continue To Rise
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Malaysia's manufacturing sales continued to increase in December, the Department of Statistics said Monday. The sales value of the manufacturing sector rose 5.4 percent, after posting 4.7 percent growth in November. Compared with the preceding month, the sales value advanced 4 percent in December. Further, data showed that total employees engaged in the manufacturing sector in December totaled 1.03 million, an increase of 0.3 percent from November. Likewise, sales and wages grew 11.1 percent month-on-month in December. At the same time, productivity increased 3.6 percent from November and by 4.1 percent from December 2012.
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China Money Markets on Edge
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Short-term rates likely to rise with PBOC skipping open market operations Maturing reverse repos to drain CNY450 billion this week
Rates have been creeping up since markets reopened on Friday
PBOC inaction could fuel tightening fears
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China January Exports and Imports Well Above Forecasts
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China's exports beat expectations in January, rising 10.6 percent from a year earlier, while imports jumped 10 percent, leaving the country with a trade surplus of $31.9 billion for the month, the Customs Administration said on Wednesday.
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Australia's Inflation Expectations Remain Unchanged In February
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The expected inflation rate amongst Australian consumers remained unchanged and stayed well within the central bank's target band of 2 percent-3 percent, a monthly survey by the Melbourne Institute revealed Thursday.
Consumers forecast a 2.3 percent inflation over the coming twelve months, the same rate as estimated in January.
Viet Nguyen, a research fellow at the Melbourne Institute, said, "The moderate upticks in consumer inflationary expectations since September 2013 reflect, to a certain extent, expectations of moderate upticks in economic activity in the coming months."
This provides support for the Reserve Bank of Australia's current 'wait and see' stance, said Nguyen.
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Australian Dollar Extends Rally After China CPI, PPI Data
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Inflation in China rose 2.5 percent year-over-year in January, unchanged from last year and slightly higher than the 2.4 percent increase expected by economists. Producer price index dropped to 1.6 percent, in line with estimates following previous month's 1.4 percent drop.
The Australian dollar extended its uptrend against its major rivals following the report. As of 8:35 pm ET Thursday, the aussie was trading at 92.26 against the yen, 1.5172 against the euro, 1.0784 against the NZ dollar and 0.9020 against the US dollar.
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Japan December Industrial Output Growth Revised Down To 7.1%
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Japan's industrial production increased at a weaker pace in December than estimated earlier, revised figures from the Ministry of Economy, Trade and Industry revealed Monday.
Industrial production grew 7.1 percent in December from the corresponding month of last year, which is slightly weaker than the 7.3 percent gain the government had estimated on January 30. However, the December outcome was better than November's 4.8 percent rise.
Seasonally adjusted industrial production moved up 0.9 percent compared to November, after dropping by 0.1 percent in November. The flash estimates were for a bigger growth of 1.1 percent at the end of last year.
Data showed that Capacity utilization in Japanese companies climbed 2.2 percent sequentially in December, marking a sharp improvement from the 0.5 percent contraction estimated earlier.
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Yen Declines As BoJ Keeps Monetary Policy Unchanged
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The Japanese yen slipped against other major currencies on Tuesday's Asian deals after the Bank of Japan retained its monetary policy intact and said the economy is recovering moderately.
The Bank decided to expand monetary base at an annual pace of about 60-70 trillion yen.
The BOJ planned to double the scale of Stimulating Bank Lending and Growth-Supporting Funding facilities and extend the period of these facilities by an year.
The yen slipped to a 5-day low of 102.44 against the greenback, off early high of 101.76. Against the franc, euro and the pound, the yen declined to near 3-week lows of 114.84, 140.45 and 171.34, easing from early highs of 114.13, 139.50 and 170.23, respectively.
The yen fell to near a 4-week low of 93.48 against the loonie and a 6-day low of 92.86 against the aussie from its previous highs of 92.89 and 92.08, respectively.
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Australia Online Job Vacancies Rise 1.4% In January
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Australia's online job vacancies increased for the fifth successive month in January, with strong rises recorded across all categories, data released by the Department of Employment showed Wednesday.
The number of job vacancies advertised on the internet, on an unadjusted basis, increased 1.4 percent month-on-month in January, marking the fifth consecutive increase.
The increase mainly reflected recovering business confidence, strong rise in building approvals, and improvement in retail spending, the agency said.
With a 2.9 percent sequential growth, vacancies of sales workers recorded the biggest increase in January, followed by vacancies of technicians and trades workers, which gained 2 percent.
On an year-on-year basis, unadjusted online vacancies decreased 3.8 percent at the beginning of the year, data showed.
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New Zealand Consumer Confidence Retracts From 7-Year High
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New Zealand's consumer confidence dropped modestly in February from January's seven-year high, but remained well above the trend, data from a survey showed Thursday. The ANZ-Roy Morgan consumer confidence index dropped to 133 in February from 135.8 in January, which was the highest score in seven years. Confidence is spreading to all parts of the country. The current conditions sub-index eased 3 points to 127 during February. The future conditions index also shed 3 points and reached a score of 137.1 "It's now well flagged that interest rates are set to move up - a typical bug-bear for sentiment," ANZ said. However, rising asset prices, improving labor market conditions and reasonable income growth will continue to bode well for consumer confidence. Meanwhile, the seasonally adjusted estimate showed that consumer sentiment increased modestly in February, and reached the highest level in seven years.
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UK's House Price Sentiment Improves To Record High: Markit
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Confidence among British residents regarding the value of their homes increased to the record high in February, data from a survey by Knight Frank and Markit Economics revealed Friday.
The headline house price sentiment index, which measures households' views of the current value of their houses, climbed to 60.7 in February, hitting the highest level since the survey began. The index has now stayed above the no-change 50 mark, which separates growth from contraction, for the eleventh successive month.
Property owners in every region of the UK perceived that the value of their home rose in February, led by London, data showed.
At the same time, the outlook component of the survey jumped to an all-time high of 74.9 in February from 72.3 in January, indicating that prices are expected to rise at the strongest rate since the index began in 2009.
The survey showed that households in every region expect that the value of their home will rise over the next twelve months.
"The recovery in the housing market reflects the increasing economic confidence in the country - which recently resulted in an upgrade to economic growth forecasts - coupled with the assurance that interest rates will remain low until next year at least," Gr?inne Gilmore, head of UK residential research at Knight Frank, said.
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Yen Rises Against Majors
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The Japanese yen gained against its major rivals in Asian morning deals on Monday.
The yen advanced to 102.36 against the greenback, 115.34 against the franc, 140.61 against the euro, 91.92 against the loonie and 170.25 against the pound.
The yen climbed to 4-day highs of 91.63 against the aussie and 84.63 against the kiwi.
The yen may eye resistance around 101.5 against the greenback, 169.00 against the pound, 114.2 against the franc, 139.00 against the euro, 90.00 against the loonie, 90.00 against the aussie and 83.5 against the kiwi.
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Japan January Corporate Service Prices Rise 0.8%
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An index measuring corporate service prices in Japan was up 0.8 percent on year in January, the Bank of Japan said on Tuesday, coming in at 96.3.
That was shy of forecasts for an increase of 1.2 percent following the downwardly revised gain of 1.1 percent in December (originally 1.3 percent).
On a monthly basis, corporate service prices dropped 0.6 percent after adding 0.2 percent in December.
Among the individual components, prices moved lower for transportation, communications and advertising; prices were up for leasing and other services.
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Taiwan's January Unemployment Rate Drops To 4.07%
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Taiwan's unemployment rate eased for the second straight month in January, data published by the Directorate General of Budget Accounting and Statistics (DGBAS) revealed Wednesday.
The seasonally adjusted unemployment rate dropped to 4.07 percent in January from 4.14 percent in December.
In January 2013, the jobless rate was 4.2 percent. Economists were looking for a jobless rate of 4.1 percent for January.
There were about 462,000 unemployed persons in Taiwan at the end of January, down by 1.45 percent than at the end of 2013. Compared to January 2013, unemployment dropped by 2.7 percent.
DGBAS noted that the number of unemployed persons increased by around 7,000 month-on-month to around 11.04 million in January. Year-on-year, employment advanced by 101,000. The labor force participation rate dropped modestly by 0.03 percentage points sequentially to 58.52 percent.
On an unadjusted base, 4.02 percent of the labor force was without a job in January, which was lower than December's rate of 4.08 percent.
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Australia Private Capital Expenditure Falls 5.2% In Q4
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Private capital expenditure in Australia was down a seasonally adjusted 5.2 percent in the fourth quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Thursday - coming in at A$38.291 billion.
That was well shy of forecasts for a decline of 1.3 percent following the downwardly revised 2.6 percent contraction in the third quarter (originally 3.6 percent).
Capex for buildings and structures dropped 3.5 percent to A$26.098 billion, while capex for equipment, plants and machinery plunged 8.6 percent to A$12.192 billion.
On year, private capex dropped 5.7 percent as spending on buildings added 0.3 percent but spending on machinery plummeted 16.3 percent.
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NZ Dollar Strengthens As ANZ Business Confidence Improves In February
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The New Zealand dollar edged higher against its major counterparts in early Asian trading on Friday after the release of a survey results showed that the business confidence in New Zealand improved well in the month of February.
Results of a survey conducted by the ANZ Bank New Zealand showed that its business confidence rose to 70.8 in February from 64.1 in the previous month. ANZ activity outlook improved to 58.5 in the month from 53.5 in January. Both readings touched their highest levels since 1994.
The New Zealand dollar edged sharply higher to 0.8396 against the US dollar, its strongest level since January 14. The NZ dollar also rose to 1.6327 against the euro from previous low of 1.6398. The kiwi climbed to 1.0680 against the NZ dollar and 85.68 against the yen from previous lows of 1.0719 and 85.36, respectively.
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