Westpac with the note. Westpac Consumer Sentiment declines slightly (–0.7%) in January to 92.1. Consumers remain less pessimistic than a year ago. But assessment of family finances reversed December’s gains. Expectations mostly stable, but unemployment expectations worsen. The consumer mood has soured for two months in a row and remains on the pessimistic side. The
ANZ job ads are flattening out. ANZ-Indeed Australian Job Adsedged up0.3% m/m in December, following a downwardly revised 1.8% m/m decline in November. In trend terms,the series was down 0.2% m/m. ANZ-Indeed Australian Job Ads has fallen 27.8% from its peak in June 2022 but is still 14.7% above pre-pandemic levels. Which is a good
DXY is a runaway freight train. EUR is a damsel tied to the tracks. AUD held on for a day. Aided by CNY’s losing battle. Oil is pure DXY rocket fuel. It is helping dirt. And miners a little. The Chinese equity market has zero credibility. Junk needs a good flush to end the funk.
The Market Ear with more on the equity selloff. Breaking bad SPX broke below the first trend line on Friday, and closed below the 100 day. The move lower is extending, and the index is approaching the big trend line (although this one only has 2 bottoms so far). 200 day comes in just above
Wall Street failed to rebound from its Friday night retracement with tech stocks again pulling the edifice down while European shares continued to selloff mainly due to falls in Italy. The latest US non-farm payroll aka unemployment print is still setting the scene in currency land with USD remaining firm against almost everything although there
Recent research from the Property Investment Professionals of Australia (PIPA) and the Property Investors Council of Australia (PICA) claimed that deleterious government policies have driven investors out of the property market, fuelling the rental crisis. The research claimed that Australia has fallen short by 35,000 investors required to meet tenant demand, “leaving renters grappling with
The response to the US unemployment print on Friday and subsequent tightening of oil sanctions on Russia has seen Asian stocks gapped broadly lower on the weekend gap and stay there in afternoon trade. The USD continues to push to new highs as the stronger than expected NFP print keeps the undollars in there place
Friday’s Chinese yawnulus was greeted by another bounce in iron ore but the reality of it is better reflected in flatlined rebar futures. Chinese steel prices are sinking fast and given there is a lot of frontrunning of tariffs going on it bodes poorly for underlying demand soon. CISA confirmed a soft end to 2024
He says he can. Peter Dutton has vowed to deliver lower taxes while slashing red and green tape so private enterprise can drive Australia out of the cost-of-living crisis, accusing Anthony Albanese of sidelining key industries and expanding the size of government to “exert more power” on behalf of activists and union bosses. The Opposition Leader on Sunday outlined
Goldman is upgrading the US dollar. USD: All systems still go; upgrading our Dollar forecasts. In our 2025 Outlook, we wrote that we expected the Dollar to be “stronger for longer” because of a combination of solid US growth, continued support for capital inflows, and more protectionist policies. Since then, the Dollar has appreciated even