I noted on Thursday how Australia’s rate of dwelling construction has fallen way behind the Albanese government’s target of building 1.2 million homes over five years. Only 177,700 homes completed construction in the year ended Q3 2024, 62,300 below the required annual run rate of 240,000 homes. The slump in construction comes at the same
EU commissioner hopes Ukraine conflict continuesBy arming Kiev, NATO member states may have granted themselves valuable time to “grow stronger,” Andrius Kubilius has stated...
As the fighting continues in Ukraine, NATO states may be gaining additional time to prepare for a potential military confrontation with Russia, Andrius Kubilius, EU commissioner for defense and space, has said.
Sen. Adam Schiff (D-Calif.) called his preemptive pardon from former President Biden, announced Monday for all past members of the now-defunct House. Jan. 6 committee in the final moments of his presidency, “unnecessary” and “unwise.”
Asian stock markets again moved due to internal concerns with Chinese shares moving higher on state instituted rules on investment while Japanese exports for December helped lift the Nikkei. Local stocks fared poorly however as the USD is still suffering from post-Trumpian volatility which had been centered around Yen. Meanwhile Australian dollar holds fast above
The post Macro Afternoon appeared first on MacroBusiness.
US President Donald Trump on Wednesday issued a thinly-veiled ultimatum to Russia, urging it to bring the Ukraine conflict to an end and strike a “deal,” or face new sanctions and high import tariffs.
Trump issued the warning in a post on his Truth Social online platform, proclaiming his “love” for the Russian people and insisting he was “not looking to hurt Russia.”
This is penny-pinching balderdash. Victorian police say they are being strong-armed into accepting a lowball new pay deal or risk losing millions in collective backpay. Under a new proposal put to rank and file members on Wednesday, police would lock in a 4.5 per cent annual pay increase over the next four years — significantly lower than
The post Pay up for the thin blue line appeared first on MacroBusiness.
The steel and iron ore jaws are looking pretty attractive for a May seasonal short. The other bulks have also been deflating materially. Metallurgic coal is at critical support at around $200. On the monthly chart, it has broken. Thermal coal has been a bit better lately, but 2024 sucked the big one. The budget
The post Bulk commodities deflate appeared first on MacroBusiness.
The Australian dollar has been in free-fall for a number of months, but has rallied in recent days. Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen look at the five main drivers for the Australian dollar, and discuss whether there is more downside to come, and how long consolidation
The post MB Fund Podcast: Australian Dollar: 5 Drivers appeared first on MacroBusiness.
Interest rates and house prices lower together? Wouldn’t that rock the foundations of Aussie entitlement? It’s not inconceivable. The current affordability is unprecedented after Albo’s economic demolition. Core Logic with more. Interest rates might be cut in early 2025 as inflation continues to drop, with annual core inflation falling to 3.2% in November (below the
Australia’s gas price is already insane. There isn’t a reserved molecule on the East Coast that can’t be extracted for profit at $7Gj, and most of it is half of that, yet the spot price is $14Gj, 400% higher than historical averages. As a direct result, electricity prices are up 160% year on year and
The post The catastrophic stupidity of gas imports laid bare appeared first on MacroBusiness.