A mixed night of risk taking with European shares surging despite increased Middle East tension while Wall Street stumbled at the close with barely any gains. The USD remains relatively weak against the currency majors although Euro pulled back in later trade and Yen continues to weaken after its epic volatility recently. The Australian dollar
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Here you go, Albo. You wanted it, you got it, SEEK drops a neutron bomb on the labour market: Tumbling jobs everywhere: Armies of unemployed Indians everywhere who will underbid for any job: Albonoics will have you scrubbing toilets for 50 cent per day in a few more years. Let’s start with the fools at
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At Tuesday’s monetary policy conference, RBA governor Michele Bullock claimed that the federal government’s extreme immigration has had minimal impact on CPI inflation. Bullock claims that while immigration has driven up housing inflation (accounting for 22% of the CPI basket), it has also lowered wage growth. So, the impact on inflation has been muted: Transcript:
Shanghai rebar lifted a little, as did SGX: Dslian still lokks toppy: Goldman is slowly turning bearish: Goldman Sachs says iron ore demand will plateau over the next two years, with seaborne iron ore demand to lift barely in 2024 from 1.567Bt last year to 1.573Bt. That will match supply exactly, leading the market to
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WE CANNOT FOSTER PEACE BY BECOMING WARRIORS — Vladimir Leonisky (cousin)
On April 7, the U.S. Central Command issued a press release boasting about their destruction of a mobile surface-to-air missile system in the Houthi-controlled territory of Yemen.
The Reserve Bank of Australia (RBA) kept the official cash rate on hold on Tuesday primarily because the household sector, which is the main driver of the Australian economy, is under deep pressure. “Household consumption growth has been particularly weak as high inflation and the earlier rises in interest rates have affected real disposable income”,
This is going to be the maa culpa of a lift lifetime. This is from PVO today about the Victorian Budget: Same Treasurer, different Premier – even more debt. That’s the story of today’s Victorian budget, handed down by long term state treasurer Tim Pallas. It is the first state budget delivered since Dan Andrews
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When standing up against a slaughter sees you branded as a “hater”, while those supporting a genocide paint themselves the victims.
Being a student in Australia these days has got to be tough.
Courses are tough to get into, you compete with overseas students for positions, the courses are ridiculously expensive, to survive you need to work crappy jobs for even crappier pay, and at the end of it all you start your adulthood with a debt that would have brought your grandparents that house that you’ll probably never afford on your own.
With the FOMC meeting and latest US jobs report all absorbed, risk markets are wanting to extend their recent rebound with most markets in Asia drifting higher in today’s session. The RBA’s hold helped buoy local spirits while the Australian dollar seemingly had baked in any gains, falling back below the 66 cent level. Oil
The post Macro Afternoon appeared first on MacroBusiness.
Prosper Australia today declared its disappointment at the state budget inaction on housing and tax reform. “The Housing Statement declared a goal of 800,000 new homes over the next decade, yet this budget contains only minor announcements on an increased construction for public housing,” said spokesperson Rayna Fahey. “We need dollars for dwellings, not developers.” […]