Wow Australia

Australia, N.Z. Dollars Fall With Equities on Recession Concern

The Australian and New Zealand dollars declined as Asian stocks fell for a fourth day, damping demand for higher-yielding assets. The currencies weakened as reports showed U.S. home prices plunged at the fastest pace in at least four decades and confidence among Japanese manufacturers declined the most on record. A deepening global recession may lead to interest-rate cuts in Australia and New Zealand, eroding their appeal as a destination for funds borrowed in nations such as Japan that have ...

Australian Newspaper Job Ads Plunge Most in 30 Years, ANZ Says

Australian job-vacancy advertisements slumped in November for a seventh month, led by a record drop in newspaper notices, as employers pared hiring plans amid concern the economy may enter a recession. Jobs advertised in newspapers and on the Internet plunged 8.6 percent last month to an average of 211,199 a week, after falling 5.9 percent in October, according to an Australia & New Zealand Banking Group Ltd. report released in Melbourne today. Newspaper ads fell over the last two months ...

Australian, N.Z. Dollars Advance as Stocks Gain on Auto Rescue

The Australian and New Zealand dollars rose as stocks in the region gained amid reports U.S. lawmakers may agree to rescue automakers, spurring investors to buy high-yielding assets. The currencies extended gains from Dec. 5 after U.S. President-elect Barack Obama on the weekend pledged the biggest public works program in about 50 years to help fuel growth in the world’s biggest economy. Australia’s dollar strengthened the most in two weeks against the U.S. currency and the yen after S&P/...