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: 6 May 2025 appeared first on MacroBusiness.
I spent most of the election weekend down in Sydney, finishing a book in my hotel room and giving a talk at that architecture conference.
It went very well, thank you.
Both the talk—and, of course, the election.
It had been a while since I’d spent much time in the centre of Sydney. When I go down, I usually stay out at Bondi—my old hood. But I hadn’t been in the city proper for any serious stretch of time since the light rail went into George Street, and I was really surprised by how much of a difference it’s made to the CBD.
Like, completely transformed it.
I reported last week on the latest results from Realestate.co.nz, showing that the national average asking price of homes listed on the site declined for the second consecutive month in April to $851,746, down 3.8% from $884,995 in February. The decline in prices was attributed to a growing glut of homes listed for sale, which
The post New Zealand’s house price crash steepens appeared first on MacroBusiness.
JKM LNG futures are still signalling gasmageddon for Australia later this year. Adjusted for an AUD at 70 cents, plus regasification costs, imported LNG will still be coming in at about $19Gj versus $12Gj today. The gas cartel will respond to LNG imports by restricting supply so that global prices become the marginal price setter.
The ferrous complex is still struggling. Forgive some of the delayed pricing on the chart. SGX is sitting around $96. The latest CISA output data looks more like 2022 than 2024. Though I have to caution that this series has broken down versus official output somewhat this year. The challenges remain. Goldman. The Chinese government’s
The post Iron ore enters the danger zone appeared first on MacroBusiness.
The first term of the Albanese government saw net overseas migration to Australia surge to a record high. It also saw temporary visa numbers balloon nearly 500,000 higher than the pre-pandemic peak: Total international student enrolments also hit a record high of nearly 1.1 million at the end of 2024, nearly 250,000 higher than the
From Goldman: From a macro perspective, we leave our forecasts for Australia unchanged given the outcome was not a surprise and the ALP’spost-Budget policy announcements have been fairly modest (0.0-0.1% of GDP). We note most of the policies announced in the Budget on 25 March, including income tax cuts for households, have already been legislated.