With an official unemployment rate of only 4.0%, you would be forgiven for thinking that Australia’s labour market is booming and incredibly tight. However, new data from Seek, NAB, and Jobs & Skills Australia contradict this view. Seek’s employment report for December revealed that the number of job ads fell by 3.0% over the month,
DXY held its losses. AUD most of the gains. Chart of the day goes to lead boots. Commods took softer than expected tariff signals as less than expected stimulus. Miners grinded higher. EM too. Junk better. Yields unconvinced. Stocks march on. El Trumpo half upset the applecart by declaring 25% tariffs on Canada and Mexico
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Wall Street returned from its long weekend and rallied across the board, not helped by more tariff talk although most of that looks like the typical hot air so far, with the USD still remaining in a weak short term cycle against the major currency pairs. European shares were flat as the lift in Euro
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I’ve already said all I plan to (for now) about what’s happening in the US. But if others want to discuss it, here’s an open thread.
The fearmongering over the exodus of property investors from Victoria has continued. Rental bond data from the Victorian Government shows that the state lost 24,726 rentals (3.6% of its stock) in the year ending 30 September 2024, the sharpest decline in rental bonds on record. Melbourne lost 23,108 rentals (4.2% of its stock) over the
Asian stock markets are generally in a positive mood although mainland Chinese shares can’t find a bid as they worry about the incoming Washington Circus as tariff threats still linger like a full Depends pullup. Meanwhile FX volatility was centered around Yen again as other undollars continue to probe the USD while the Australian dollar
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If you cancel instead of engaging with your political and ideological competition, then it is you, not them, that has succumbed to hate. Sadly for cancel culture, by definition, it can’t learn this lesson, and so self-immolation is inevitable. Amid staff turnover and clashes at Guardian Australia, journalists in the UK have reportedly been considering