DXY has paused for now: AUD has not and long positioning means it can keep falling. If it breaches 0.65 its uptrend is broken and all bets are off: North Asia is ugly: Gold is in blowoff. Oil might break: Metals are in purgatory: Miners too: EM is stuffed: Junk nervy: Yields down: Stocks up:
Michael Read from the Australian Financial Review published the following chart showing the strong growth in federal, state, and local government taxes over the past decade, which have hit a record share of gross domestic product. However, despite the record tax take, the International Monetary Fund (IMF) forecasts that Australia faces six years of deficits
Several of Australia’s major banks have pushed for an easing of credit standards to assist first home buyers. ANZ has called for looser credit, claiming that the current rules are precluding lower-income borrowers from gaining a home loan. ANZ also recently canvassed 50-year mortgage terms, which would lower monthly loan repayments and entice more buyers
Domain has released its house price results for the September quarter, which shows that median house price hit a record high of $1,655,000 following the seventh consecutive quarter gain. Sydney units also rose for the seventh consecutive quarter, hitting a record high of $815,300. As illustrated in the table below from Domain, Sydney’s median house
Albo, or is that Klepto, is not amused: The cracks in Anthony Albanese’s glass jaw are splintering as he desperately looks for scapegoats and blames others for his own actions in defending accusations over Qantas upgrades and VIP treatment. Albanese was visibly rattled in a train wreck press conference on Tuesday where he rambled and sought to
‘Haystack under the trees’ 1910s, Jo Sweatman, NGV AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225
The post Macro Afternoon 29 October 2024 appeared first on MacroBusiness.
The Reserve Bank of New Zealand was one of the most aggressive central banks in the world, lifting the official cash rate to a peak of 5.50%. As illustrated in the chart below from Justin Fabo at Antipodean Macro, New Zealand’s official cash rate remains overly restrictive, despite 0.75% of cuts delivered over the past
Throughout the last eight years of China pressuring Australia, the ALP has spent nearly all of its time blaming the LNP for the breakdown in the relationship. This blame came from all quarters, including Kevin07. The PM, former PMs, former and current foreign ministers, ministers, premiers, and wonks. Now, according to the mercurial Kevin07, they
The RBA has been aware of the possibility that consumer spending could be stronger than projected, especially given the significant boost to household income from the Stage 3 tax cuts. This would complicate their goal of sustainably returning inflation to target. The below video from Westpac provides an overview of the latest Westpac-DataX Consumer Panel.
The past twenty years saw an explosion of cafes across Australia. For example, when I moved to the Melbourne suburb of Ashburton in 2006, there were only a handful of cafes along the local High Street shopping strip. In the years leading up to the pandemic, the number of cafes expanded to more than a