New 14 month lows as the downtrend gathers new momentum:
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As we know, Victorian opposition leader Matthew Guy yesterday hosed mega-Melbourne: Melbourne can’t afford to be an unlivable city of seven-plus-million people,” said Mr Guy, who was planning minister from 2010 to 2014. “That’s not the kind of city we should be leaving our children but it’s the kind of city we are headed toward.
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The AFR is celebrating the new mining boom: A $2 billion acquisition spree by South32 and Gina Rinehart’s Hancock Prospecting has underscored the more upbeat outlook on commodity prices among industry heavyweights, with the scramble to buy or develop world class assets and infrastructure heating up as the world’s largest miners emerge from years of
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Via The Guardian: Voters are strongly in favour of the Turnbull government’s tax cut for low and middle income earners, but are considerably more cool on tax relief for high flyers, according to the latest Guardian Essential poll. With the Senate set to resolve the fate of the package in the final two sitting weeks before
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By Chris Becker A lacklustre night on risk markets in the absence of economic catalysts as traders continue to weigh up the risks of a growing trade war and OPEC makes moves to shore up the flagging oil price. Tech stocks again providing the heavy lfiting on Wall Street as industrials wavered through an upbeat talk
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DXY and EUR boxed themselves to standstill last night: AUD was hammered versus DMs anyway: But couldn’t catch down to EMs: In an unfortunate development, the Chinese yuan is now falling fast, raising even more heat on EMs: Gold held its losses: Oil bounced on OPEC rumours: Base metals broke: Big miners hung on somehow:
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Good grief, via the AFR: Labor is urging the Turnbull government to tone down its anti-China rhetoric, warning that it is flirting with a “dangerous exercise” by politicising the bilateral relationship between Canberra and Beijing. Opposition foreign affairs spokeswoman Penny Wong will tell the Australia China Business Council’s showcase annual networking day in Federal Parliament
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Via NAB comes technical analysis for the AUD: Medium Term Price Drivers Since breaking the two- to three-year uptrend in April price has broken below the H2 2017 low at 0.7502 in four separate weeks but failed to close a week below 0.7502. A close this week below 0.7502 will confirm the break of the
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The Bank of International Settlements is out with a new assessment of cryptocurrencies. It does not pull its punches: …a key potential limitation in terms of efficiency is the enormous cost of generating decentralised trust. One would expect miners to compete to add new blocks to the ledger through the proof-of-work until their anticipated profits
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It’s all part of the plan, from Domainfax Zones that control medium-density property development in sensitive areas would be changed and tightened up, under a Coalition promise to “protect” Melbourne’s streets. …Under Labor, developers on blocks bigger than 400 square metres have been allowed to build as many dwellings as they like – but they must
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