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Articles from MacroBusiness

Consumer confidence dead cat bounces

August 16, 2022 - 10:39 -- Admin

After last week crashing to its lowest level since April 2020, the ANZ-Roy Morgan weekly consumer confidence index rebounded 4.9% to its highest level since late June: The key movements in the sub-indexes were as follows: Consumer confidence jumped 4.9% last week, completely reversing the drop following the RBA’s August rate hike. Confidence is the

New federal ICAC takes aim at Sly ScoMo

August 16, 2022 - 10:30 -- Admin

Max Opray, Schwartz Media’s morning editor, has neatly summed up the revelations that former Prime Minister Scott Morrison secretly gave himself joint responsibility for the health, finance and resources ministries, in contravention of the Westminster democratic system of government: The Albanese government has ordered a search for documents authorising former prime minister Scott Morrison to

China’s growth era is over

August 16, 2022 - 09:30 -- Admin

Pantheon kicks us off with an analysis of Chinese July data: China: Industrial production growth slowed to 3.8% y/y in July, from 3.9% in June.  Consensus was 4.3%. China: Retail sales growth slowed to 2.7% y/y in July, from 3.1% in June.  Consensus was 4.9%. China: FAI growth fell to 5.7% ytd y/y in July,

Macro Morning

August 16, 2022 - 09:30 -- Admin

Risk markets reacted fairly positively overnight to some weak economic data out of China and the US with Wall Street lifting slightly to continue its previous solid trading week.  The USD as a result extended its gains with a near 1% rise against the major currencies with Euro the main casualty, but also knocking the

Australian dollar slain by China

August 16, 2022 - 09:00 -- Admin

DXY bounced hard last night: AUD was slain: All commodities and EMs were trashed: Treasuries were bid: Stocks only go up: Westpac has the wrap: Event Wrap US homebuilder confidence (NAHB) fell to 49 (est. 54, prior 55) – the lowest since May 2020. The report noted builder confidence continues to be affected by the FOMC’s rate

Albo’s migrant scab grab foretells another ‘lost decade’ for Aussies

August 16, 2022 - 00:10 -- Admin

After the Albanese Government on the weekend confirmed that it would ramp-up immigration to record levels following next month’s Jobs & Skills Summit, a conga line of special interests have demanded their fill. The Business Council of Australia (BCA) has demanded four year visas for temporary ‘skilled’ migrants alongside a guaranteed pathway to permanent residency:

RBA torpedoes Melbourne house prices

August 16, 2022 - 00:05 -- Admin

Much like Sydney’s, Melbourne house price losses have accelerated, with values down 3.9% from their peak: Melbourne dwelling values started falling sharply after the Reserve Bank of Australia’s (RBA) initial interest rate rise on 3 May. Since that first hike, Melbourne’s dwelling values have plummeted by 3.7%. Alongside even heavier falls across Sydney (-5.6%), these

Links 16 August 2022

August 16, 2022 - 00:01 -- Admin

Global Macro / Markets / Investing: One-third of the food we eat is at risk because the climate crisis is endangering butterflies and bees – CNN High Prices, Range Anxiety Holding Back EV Adoption – Statista Wall Street Bets on Both Green Energy and Fossil Fuels – WSJ Jeremy Grantham still expects the S&P 500

Macro Afternoon

August 15, 2022 - 16:30 -- Admin

A relatively mixed start o the trading week for Asian stocks in response to very solid session on Wall Street on Friday night, with Chinese stocks the laggards as the USD returns to strength. The Australian dollar has faltered slightly to be just below the 71 cent level while Euro continues to fall going into

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