Last week, the ABC published the following table showing Australia’s most valuable goods exports: Since Australia doesn’t manufacture much anymore, mining, energy, and agricultural goods comprise virtually all of Australia’s goods exports. All of these exports are produced in regional Australia, not the capital cities. The only services exports of note are education and tourism-related.
The panic is on. “Economists” are backflipping on interest rates. Hoocoodanode? The poll found 29 out of 40 economists forecast the cash rate to fall by a quarter of a percentage point to 3.85 per cent in May. ANZ, Barrenjoey, and HSBC brought forward their timing after the US president unveiled aggressive tariffs on trading
The post Lunatic RBA to cut 50bps? appeared first on MacroBusiness.
![[later] I don't get why our pizza slices have such terrible reviews; the geotextile-infused sauce gives the toppings incredible slope stability!](https://imgs.xkcd.com/comics/tariffs.png "[later] I don't get why our pizza slices have such terrible reviews; the geotextile-infused sauce gives the toppings incredible slope stability!")
Blood in the streets. The Market Ear. $5 trillion gone The S&P 500 saw its worst two-day plunge since March 2020 in a sellof that slashed over $5 trillion in value. Source: Econovis 2nd worst ever The Nasdaq Composite is now down 19% year-to-date for its 2nd worst start to a year (through 64 trading
The post Blood in the streets appeared first on MacroBusiness.
The bath of blood on risk markets continues to spill over with Wall Street falling 6% across the board on Friday night with more carnage expected here on the open of the new trading week in Asia. The latest US jobs figures came in better than expected but were roundly ignored as everything but the
The post Macro Morning appeared first on MacroBusiness.
The Federal Chamber of Automotive Industries (FCAI) released new car sales data for March, which revealed that 108,606 new cars were delivered during the month, and a total of 1,206,558 were delivered over the year. Annual new car sales declined by 0.9% over the year, with the market continuing to trend downward since peaking in
The post EV sales crash back to earth appeared first on MacroBusiness.
Donald Trump’s announcement of a “Liberation Day”, involving the imposition of tariffs on almost every country in the world, is one of a series of measures which call for an urgent reorientation of Australia’s economic and foreign policy. It is, in effect, a commitment to remove the United States from the global economy, which is seen by Trump as unfair and exploitative of Americans.
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.
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A Dutton-led Coalition government would ‘slash’ international student numbers by around 25% if elected. Speaking in the outer suburbs of Melbourne on Sunday morning, Peter Dutton said that the international student intakes at universities and VET would be cut by 80,000 under the Coalition, which he said would free up housing and ease the rental
The dreadful atrocities by Hamas on 7 October 2023 horrified the world and triggered the destruction of Gaza, the deaths of more than 50,000 Gazan men, women and children and the wounding of tens of thousands more.
Was Israel complicit in the 7 October 2023 massacre?
British Prime Minister Keir Starmer will deliver a speech on Monday acknowledging that the era of globalization has come to an end, The Times has reported.
Starmer will make the address in response to US President Donald Trump imposing sweeping tariffs on the majority of America’s trading partners, including the UK, earlier this week, according to the article on Sunday.
WASHINGTON -- US Treasury Secretary Scott Bessent is reportedly looking to leave the Trump administration following the president's "reciprocal tariff" announcement, which has raised concerns about its impact on the economy, The New Republic reported on Saturday.