Australian PM passes leadership challenge

FXStreet (Bali) - Australian Prime Minister Tony Abbott managed to pass a leadership spill motion, obtaining 61 votes vs 39 against, according to chief party whip Philip Ruddock, with Reuters reporting the headlines.

Reuters adds: "The motion was brought on Friday by Western Australian MP Luke Simpkins after mounting criticism of Abbott's leadership, culminating in his awarding an Australian knighthood to Queen Elizabeth's husband, Prince Philip."

Feb 9, 2015

AUD/USD under pressure in early Asia

AUD/USD is pressured at the open, down over 35 pips from Friday's close, presently at 0.7761 vs 0.7793, following a solid US NFP report, a weak Chinese trade balance over the weekend, mainly on seasonal distortions, and with Australian PM Tony Abbott facing a leadership spill motion this Monday, starting at 22 GMT.

China: Import growth slumps in January - Nomura

According to Nomura Economists, the much weaker-than-expected import data in China over the weekend not only reflects the fall in commodities prices but also implies weakening domestic demand.