Oz Blog News Commentary

Articles from MacroBusiness

RBA breaks housing market

December 10, 2023 - 00:05 -- Admin

The Reserve Bank of Australia’s (RBA) 0.25% increase in the official cash rate (OCR) last month had an immediate damping effect on housing values, particularly in Melbourne and Sydney. CoreLogic’s daily dwelling values index has recorded a sharp slowing in value growth at the 5-city aggregate level following the latest rate hike, driven by Melbourne

Australian dollar 2024 forecast

December 9, 2023 - 09:18 -- Admin

DXY was up last night on a decent 200k US jobs: AUD was squashed: CNY is fading: Oil caught a bid, gold sold: Dirt meh: Miner meh: EM death: Junk meh: Yields popped with jobs: Stocks too: Let’s talk about 2024. Deutsche has a crack at it. The dollar has stayed strong this year on

Weekend Reading, MB media appearances and videos

December 9, 2023 - 00:05 -- Admin

International Reads: 99% of Americans will be financially worse-off than they were pre-pandemic by mid-2024, JPMorgan says – Business Insider Sen. Robert Menendez, facing bribery charges, stumps bank CEOs by asking how much their firms paid in settlements for allegedly ripping off consumers – Fortune Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows –

Macro Afternoon

December 8, 2023 - 17:30 -- Admin

Asian share markets are in mixed form going into the final session of the week as Yen tries to stabilise following big gains against USD while risk sentiment in China remains quite negative. Traders are positioning for tonight’s US employment print – the non farm payroll report – which could come in a lot softer

Miners demand foreign scabs

December 8, 2023 - 13:30 -- Admin

Mining wants its foreign scabs back: Big business will wage a mining-tax style campaign against the “economic vandals” in the Albanese government after it passed the most controversial part of its industrial relations shake-up, in a bid to pile on pressure before the next election. BHP president Geraldine Slattery slammed Workplace Relations Minister Tony Burke’s

Working Aussies crushed by soaring mortgage debt, rents and taxes

December 8, 2023 - 13:00 -- Admin

Independent economist Tarric Brooker has published some fantastic charts showing the dramatic change in home ownership over the twenty years to 2021. The next chart shows the proportion of Australian homes owned outright by age demographic over time: As you can see, the proportion of Australians owning their homes outright has fallen sharply for those

Australian households writhe in financial pain

December 8, 2023 - 11:40 -- Admin

Wednesday’s September quarter national accounts from the Australian Bureau of Statistics (ABS) were a shocker for households. Arguably, the worst news was the record collapse in real household disposable income per capita, which collapsed by 5.8% over the year: Last decade was the worst in recorded history for per capita household disposable income growth, averaging