No bad surprises were contained within the US CPI print released overnight although the core inflation figures continue to lift higher, it still gave most market respondents and sycophants alike the opportunity to push for a September rate cut from the US Federal Reserve which has sent Wall Street flying higher and pushed the USD
The post Macro Morning appeared first on MacroBusiness.
The way India manoeuvres reflects the key features of both the current global landscape and the ongoing process of its transformation. This process began almost immediately after the Cold War ended, but in recent years, it has accelerated at an unprecedented pace. In turn, the rapid transformation of the world order inevitably injects various factors of uncertainty into the political arena.
DXY fell last night. AUD bounced but it’s not exactly tearing the roof off. Lead boots are stuck fast. Gold was disappointed. Base metals are king dollar playthings. Big miners are having another crack at the big bear. EM at the highs. Junk breaking out. Bullish. Yields muted after US CPI. Stocks certain of Fed
The post Australian dollar soars on Fed cuts appeared first on MacroBusiness.
The Australian Jewish Association and its charity arm, the Australian Jewish Association Tzedakah Incorporated, are facing a landmark legal challenge after more than a year of alleged racial and religious vilification targeting Palestinians and Muslims.
Ukraine is preparing a new provocation to disrupt negotiations between Russian President Vladimir Putin and his American counterpart Donald Trump in Alaska on Friday, according to the Russian Defense Ministry.
Polish Prime Minister Donald Tusk has accused “local idiots” and “foreign agents” of stoking tensions between Poland and Ukraine, following the display of a flag used by Ukrainian Nazi collaborators who participated in the ethnic cleansing of Poles during World War II, at a rap concert in Warsaw.
The Albanese government’s National Housing Accord target of building 1.2 million homes over five years was always a delusional pipe dream detached from reality. The record single year for Australian dwelling completions was around 223,500 in 2017, when the nation was building huge volumes of defective high-rise apartments. However, economic conditions were far more favourable
Asian share markets are seeing a strong bid led by Japanese markets as they return from their long weekend with traders all waiting in anticipation of tonight’s US CPI print that is now becoming as important as the jobs print on the economic calendar. Not much movement in currency-land with the RBA cutting rates 25bps
The post Macro Afternoon appeared first on MacroBusiness.
As expected, the Reserve Bank of Australia (RBA) cut the official cash rate by 0.25% to 3.60%. The decision was unanimous among board members. In its media release accompanying its decision, the RBA noted that “inflation has continued to moderate”, down “substantially since the peak in 2022”. It also signalled further “gradual” rate cuts ahead.
Hunter Valley residents want to see sunsets again, not a coal plant rebooted as a “wood incinerator”
Economist Ross Gittins from the SMH has pilloried the Productivity Commission’s (PC) proposal to cut Australia’s company tax rate to 20% for all but the largest 500 firms with annual turnovers of $1 billion, alongside introducing a 5% tax on the annual net cash flow of all companies. The two sets of general equilibrium models
So, I always knew Dan Black was returning for this next AoT series. I didn’t realise until recently that Detective Lou “Buster” Cherry would be hitching a ride back with him.
But here we are.