SHFE and SGX jaws are still bad for steel mills: Mad Dalian rolled Friday night: Coking cola more: Scuttlebutt is weak: “Several factors jointly contributed to this wave of price rebound, including stronger expectation of a Fed (U.S. Federal Reserve) interest rate cut, better demand with peak construction season approaching and the suspension of steel
The trading week ended on Friday night with some month-end shenanigans with USD surging once more despite a slightly softer than expected US PCE print with rising bond yields helping add volatility to the mix. While European stocks couldn’t take advantage of a very weak Euro, Wall Street put in a very solid session as
Bernard Salt, the self-proclaimed “unabashed supporter of a bigger Australia”, has written reams of articles and reports advocating for rapid population growth and warning that failing to do so will result in an economic and fiscal catastrophe. Over the weekend, Salt penned a waffling article in The Australian describing the joys of growing up in
CoreLogic has recorded flat rental growth across Australia for the second straight month in August, with Sydney recording its second consecutive monthly decline. The annual rental growth rate also declined across most markets: Nationally, rental values were up by 7.2% in the year to August, which is the lowest annual growth rate since May 2021.
The AFR’s Economics Correspondent, Michael Read, published an analysis showing that “Australian households experienced the largest fall in disposable incomes across the OECD over the past two years”: According to OECD data compiled by Read, real per capita household disposable income declined by 8.0% over the two years to March 2024. This compares to a
DXY is bouncing off technical support and an oversold condition: AUD candles presaged a fall: CFTC specs are still short. Bullish! North Asia into reverse: Oil looks to be sniffing out a lower range: Dirt relation ended: Miners in trouble: EM going nowhere: No hard landing here: Yields perked up: So did stocks: Is China
According to CoreLogic’s daily dwelling values index, home values across the five major capital city markets grew by 0.5% in August: As shown above, monthly growth was driven by the smaller markets of Perth (1.9%), Adelaide (1.3%), and Brisbane (0.9%), whereas Sydney recorded softer growth (0.3%) and Melbourne values declined (-0.2%). It was a similar
When inflation and population growth are taken into account, Australia’s retail sector remains stuck in a deep and protracted recession. On Friday, the Australian Bureau of Statistics (ABS) released retail trade data for July, which showed that turnover in nominal dollar terms was flat for the month and rose by only 2.3% year-on-year: The poor
International Reads: The new middle-class retirement plan: Working into old age – CBS News CEO got big bucks as his hospital chain imploded. Here’s who suffered. – USA Today U.S. homes aren’t just more expensive. They’re also getting smaller – Fortune Price Gouging is Definitely Real, and We Should Definitely Do Something About It –
A quiet session to end the trading week and month for Asian share markets with some steady returns while currency markets remain sanguine following the overnight surge in USD that looks to be temporary. Tonight’s flash and core CPI prints could change that instantly however as Euro remains below the 1.12 handle but the Australian