The Market Ear on oil. 1 – Overbought mania Let’s start with a simplistic price momentum observation. Oil RSI is getting rather extreme, but as regular readers of TME know, overbought can stay overbought for longer than most think possible… Refinitiv 2 – Oil of course also the star in commodities Oil has decoupled from
The facade surrounding Australia’s extreme immigration policy continues to crumble. Last week, the Australian Bureau of Statistics (ABS) revealed that Australia’s population surged by a record 563,200 in the year to March 2023, driven by unprecedented net overseas migration of 454,300: This urge in immigration has been driven by the strongest international student inflows in
Over the weekend, The Courier Mail described Queensland’s housing market as a “pressure cooker” resembling the “home buyer hunger games”: HOMES are being snapped up within hours as Queensland’s pressure cooker housing market sparks a spring selling frenzy, with new listings failing to keep with an insatiable buyer demand. “Records are being broken across the
The AFR reports that the Albanese government is planning to fast-track visa approvals for highly paid skilled migrants who earn at least $120,000: “The government has indicated to stakeholders the salary threshold for access to the new high-skill visa stream is likely to be around $120,000, but potentially as high as $150,000, according to sources
DXY is still powering: AUD is firming anyway: CNY only goes down: Oil only goes up: Dirt yawn: EM yawn: Junk yawn: Yields know oil: Stocks can’t hold if oil runs on: AUD is massively oversold on CFTC: CTAs likewise: Credit Agricole has triggered a positional long, though it does not have a great recent
The Australian Bureau of Statistics (ABS) reported last week that net overseas migration rocketed to a record high 454,300 in the year to March 2023, which lifted the population by 563,200: The June quarter national accounts also suggested that Australia’s population ballooned by 626,000 over the 2022-23 financial year: The unprecedented boom in immigration was
By Stephen Wu, Economist at CBA: Key Points: The Minutes struck a largely similar message to previous recent RBA communications. The RBA are still of the view that the economy is on the ‘narrow path’ despite some minor shifts to the risk profile. Our base case remains the current cash rate of 4.1% is the
Landscape at Woronora River, Danila Vassilieff, 1937, Bendigo Art Gallery AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225 Easy Listening Dropkick Murphy’s, The Fields of Athenry Die Toten Hosen, Viva La Revolucion Gil Scott-Heron, The Revolution Will Not
Tonight, I will be appearing on DFA Live with Martin North where we will discuss the Australian housing market and economy, the population ponzi, alongside other topics. The show goes live at 8pm AEST. We hope to see you there.
The post Join me tonight on DFA for live Q&A appeared first on MacroBusiness.
The Productivity Commission (PC) released a report last week that refuted union assertions that corporate greed was to blame for workers’ poor wage growth leading up to the pandemic: “Over the long term, for most workers, productivity growth and real wages have grown together in Australia”. “Mining and agriculture – which account for about 5%