Risk markets are having second thoughts about the dovish mood at the Federal Reserve with the USD taking back nearly half of its losses from Friday night, especially against Euro but this is being led mainly by French political problems. It was more hawkish comments from other Fed members that is seeing Yen, Pound Sterling
The Albanese government announced that it will bring forward its 5% home deposit scheme for first home buyers by three months. Under the scheme, the government will guarantee 15% of the purchase price so that applicants can avoid paying lenders’ mortgage insurance. Previous income limits on eligibility will be removed from October, whereas the scheme’s
Recently, the issue of how migration is measured has exploded into the headlines, with several media outlets and other organisations, including 2GB, the Daily Mail, the Institute of Public Affairs and Macrobusiness, receiving correspondence from the ABS on the issue. To quote from Leith’s article on this from last week: On Wednesday evening, I received
DXY is down, down. AUD is up, but it’s still a grind. Lead boots to the moon! Commods too. Big bear intact. EM launch! Junk vertical! Yields pounded! Stocks roar! So many exclamation marks in one post means it can only be dovish Fed. Jay Powell at the bottom of the Jackson Hole. Putting the
By Lucinda Jerogin, Associate Economist at CBA It was a relatively quiet week locally. Consumer sentiment lifted to a 3½ year high, providing further evidence the household consumption recovery is gaining momentum. The Economic Reform Roundtable was held in Canberra from Tuesday to Thursday. Offshore, geopolitical events dominated headlines. Russia-Ukraine ceasefire talks tookcentre stage, but no
The ferrous complex is trying to hold $100. I expect it to fail. Not on anything especially dramatic. Largely because the seasonal headwinds for September are strong amid weakening Chinese growth. Goldman. Imports pulse is weak. Surprises bearish. Construction steel versus the rest means ongoing pressure on recycling but seasonality should also pull down BOF. It’s
The Market Ear. Watching the sensitive stuff ETH trying to tell tech something? These two have moved in perfect tandem over the past 2 months, but the latest gap is becoming very wide. Source: LSEG Workspace The worrisome part of the calendar The S&P 500 down 5 days in a row – front-running the calendar
DXY is back. AUD has entered freefall. CNY is fine. Gold is confused. Metals are nervous. Big bear intact. EM swoon. Junk hiccupped finally. As yields broke higher. Stocks kept falling. There wasn’t any earthmoving data. All eyes are on Jay Powell. Goldman says he’s going to break. Goldman economist David Mericle expects Powell to
Australian stocks led the way to a new record high today but the rest of Asian share markets were mainly down across the board as risk sentiment continues to shift further into negative space as we all await the Jackson Hole conference tomorrow. The USD remains on a small rally against the majors although Euro
APA Group with the news. AFR. The chief executive of the country’s biggest gas transporter, APA Group, has fired off against plans to import LNG to avert a potential gas shortage, warning that the high cost of imports risks turning consumers and industry against gas altogether. Adam Watson said importing liquefied natural gas into the