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* 30 Sep 10: 02:03 GMT (SGA) - FX NOW! AUD/NZD, AUD/USD Flows - RBA says banking system, economy strong = Oct 5 rate hike
Slightly upbeat RBA semi-annual review, with RBA seen preparing markets for more Cash Rate hikes, even as Fed, BoE, BoJ Contemplate further easing. RBA gives a clean bill of health to the banking system. Says signs of recovery in profitability to pre-crisis levels. Bank bad-debt charges falling further in coming quarters. Only slight impact on banks as they replace pre-crisis funding at current market rates. Broader economy...Ignored
Manufacturing activity in Australia fell into a state of contraction in September, according to the Australian Industry Group and PriceWaterhouseCoopers.
The group's latest Performance of Manufacturing Index reading was 47.3 points, down 4.4 points from the August reading of 51.7.
Readings below 50.0 indicate contraction of activity in the measured sector.
AIG/PriceWaterhouseCoopers said a strengthening Australian dollar, higher raw materials costs, weak demand and political uncertainty in Australia were the main reasons cited by most survey respondents.
The aussie rose by more than 8 percent vs. the U.S. dollar in September, hitting a two-year high.
The survey's employment sub-category declined 6.5 index points to 44.8 in September. Wage growth, however, rose 1.7 points to 72.7.
http://www.rttnews.com/Content/AllEc...=B2&Id=1433902
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