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Australian dollar bounces with emerging markets dead cat

August 17, 2018 - 06:42 -- Admin

Last night DXY was solid but CNY and EUR bounced: AUD lifted against DMs: And EMs: Gold was smashed then bounced but is still in trouble: Oil firmed: Base metals too: And big miners: Plus the EM stocks dead cat: EM junk lifted: Treasuries were sold: Bunds too: And Italy: Stocks made solid gains: US

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Andrew Liveras humiliates Turnbull’s energy mess

August 17, 2018 - 00:20 -- Admin

Finally somebody else telling the truth. Bravo Andrew Liveras at the AFR: The biggest reason we don’t have the market we need is that we keep asking the wrong question. Coal or renewables? Renewables or coal? Affordable energy or lower emissions? This is not an either/or debate. The question we must ask is: why are

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Aussie wages won’t lift until this falls

August 17, 2018 - 00:15 -- Admin

By Leith van Onselen This week’s data key economic data revealed another contradiction. On Wednesday, it was revealed that Australian wages growth was stuck near record lows, growing by just 2.06% in the year to June (1.99% in the private sector): Then yesterday, it was revealed that Australia’s unemployment rate has fallen to the lowest

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How can the Migration Council chair fight migrant wage protection?

August 17, 2018 - 00:15 -- Admin

Via The Guardian: Some of Australia’s largest employer groups have rejected suggestions that underpayment of workers amounts to “wage theft”, telling a Queensland parliamentary inquiry the term exaggerates the problem. The Palaszczuk government called the hearings, which begin on Thursday, with a view to criminalising wage theft in Queensland. Submissions to the inquiry have described how wage

House prices falling in 98% of Sydney and Melbourne suburbs

August 17, 2018 - 00:11 -- Admin

Via Herald Sun: SYDNEY and Melbourne have been the powerhouse for Australia’s booming property market but a new report shows only 17 suburbs across the two cities are seeing increased prices. With just a handful of suburbs among Sydney’s 700 showing steady rises in property values, experts say this continues to highlight a steady downward

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House prices falling in 98% of Sydney and Melbourne suburbs

August 17, 2018 - 00:11 -- Admin

Via Herald Sun: SYDNEY and Melbourne have been the powerhouse for Australia’s booming property market but a new report shows only 17 suburbs across the two cities are seeing increased prices. With just a handful of suburbs among Sydney’s 700 showing steady rises in property values, experts say this continues to highlight a steady downward

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CoreLogic weekly Australian house price update: The steepening

August 17, 2018 - 00:10 -- Admin

By Leith van Onselen In the week ended 16 August 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, declined another 0.18%: Values fell across three major markets and rose in two: So far in August, home values have fallen by 0.27%, driven by Melbourne, Sydney and Perth:

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Youth labour market starts to turn down

August 17, 2018 - 00:10 -- Admin

By Leith van Onselen Yesterday’s ABS labour force release for July revealed a softening Australian youth labour market – i.e. those aged 15 to 24 years old – as both full-time and part-time jobs growth weakens. While the trend headline unemployment rate crashed to 11.13% in July from 11.45% in June: Whereas total employment growth

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Daily iron ore price update (the numbers)

August 17, 2018 - 00:05 -- Admin

Got some chart troubles today so here are the numbers: Tianjin benchmark spot: $66.90 (-15 cents) Dalian 6 month future: 494 Dalian 6 month coking coal 1266 Shanghai rebar futures 4122 No change to outlook. Firm headed into Q4 weakness.

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Links 17 August 2018

August 17, 2018 - 00:01 -- Admin

Global Macro / Markets / Investing: The biggest policy mistake of the last decade – The Week Tesla whistleblower tweets details about allegedly flawed cars, scrapped parts – CNBC S.E.C. Is Said to Subpoena Tesla After Elon Musk’s Take-Private Tweet – NY Times Companies Shouldn’t Be Accountable Only to Shareholders – WSJ U.S. Pursues One

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