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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
A heavy week of dividend payments could influence AUD, says CBA.
"Dividend payments may be relevant for the AUD in the short term because foreigners own about one-third of listed company capital. Some foreign owners may choose to repatriate their dividends abroad by selling AUD. Equally, some Australian miners issue their dividends in USD. Their Australian owners may sell their USD-denominated dividends to buy AUD. Around $A18bn of dividends will be paid next week and the week ending 2 April. With foreign ownership around one-third, we assume foreigners have a claim of around $A6bn over the next few weeks. As an approximation, we estimate US owners will receive $A1.6bn while UK owners will receive $1.1bn of dividends in the next two weeks. AUD may, therefore, endure some selling against the USD and GBP in the next two weeks as dividends are transferred to the US and the UK."
Source: CBA/CommSec
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.