The ferrous complex was smacked yesterday. ANZ has done a good job of calling the top. The iron ore market continues to shrug off ongoing weakness in China’s property sector. The prospect of further rationalisation of its steel industry could add further support to prices. …A pullback in steel output in recent months has improved
Australian real wages recorded a record 7.3% decline between mid-2020 and the September quarter of 2023. They have since recorded a modest 1.3% rebound, meaning that real wages remained 6.0% below their peak as of mid-2025. The August Statement of Monetary Policy (SoMP) from the Reserve Bank of Australia (RBA) forecast that real wages would
This is how bad the Albanese government is. Sensing that its rorting of the public will ultimately destroy its own licence to operate, the gas cartel is itself now demanding that it be constrained. SMH. In a submission to the government’s review of the nation’s gas market, Australia Pacific LNG (APLNG) says an export licensing
This time an inflation print actually got traders worried on Wall Street with the latest US PPI coming in hot overnight showing that the tariff “push” is slowing coming through the US economy. The USD got off the ropes against all the majors, pushing most of them down with rollovers as Euro lost more than
In February, on ABC’s Q&A, Prime Minister Anthony Albanese stated that the government was cutting immigration and relieving pressure on the housing market by reducing international student numbers. Albanese noted that the student visa system was being “abused”. On Thursday, the Australian Bureau of Statistics (ABS) released net permanent and long-term arrivals data for June, which
Alongside this week’s 0.25% interest rate cut from the Reserve Bank of Australia (RBA), it noted that it expects to lower the cash rate “gradually”. Financial markets are currently tipping one more rate cut this year, followed by another in early 2026. This would take the official cash rate to 3.10%, 1.25% below its recent
Asian share markets were doing well until US Treasury Secretary Bessent stuck his foot in his mouth calling on the BOJ to lift rates while local markets surged on a stronger than expected July unemployment print. The USD is still losing out against most of the majors as Euro nearly lifts above the 1.17 handle
This is an important story. The Australian. The US Defence Department is aiming to integrate Australia and other Asian allies into a stronger collective defence framework focused on deterring Beijing and safeguarding Taiwan, warning that partners in the Indo-Pacific must not “sit back while the Europeans are stepping up.” As Canberra and Washington prepare to
The Housing Industry Association (HIA) has launched a preemptive attack on moves to curb investor tax concessions, such as negative gearing and the 50% capital gains tax (CGT) discount. Chief economist Tim Reardon claimed that “investors are vital to the goal of increasing housing stock”, claiming that “investors typically supply around a third of all
Thank god, other states are fighting off Victoria disease. A controversial plan to stave off looming east coast gas shortfalls by underwriting new LNG import terminals has been indefinitely delayed as interstate disagreements and a broader overhaul of the market could push back the need for overseas sources. The Victorian-led proposal, which has yet to