On the surface, Australia’s job market looks incredibly strong. According to the latest labour market survey from the Australian Bureau of Statistics (ABS), the economy recorded 3.5% annual job growth in January. Australia’s official unemployment rate (4.1%) is also amongst the lowest in the advanced world, alongside the United States. The latest Statement of Monetary
The ferrous complex is still in the throws of LNY distortions and Q1 supply disruptions, supporting prices. But underlying conditions remain weak. Demand is down again this year when adjusted for LNY. So is steel production. I expect the entire ferrous complex to weaken again in Q2.
Wall Street had a major setback on Friday night led by tech stocks like Meta as Comrade Krasnov took another wild swing on tariffs against Europe as Germany gears up for its general election on Sunday. The USD came back against most of the undollars except Yen as inflation expectations came in much higher on
Resolve with the fear. Voters have lifted Opposition Leader Peter Dutton to a significant new lead in the race for power at the federal election, backing him as a strong leader while slashing their core support for Labor to a new low of 25 per cent. The shift has taken the Coalition to a lead
In December 2024, Freelancer CEO Matt Barrie delivered a must-watch keynote speech to the Northern Beaches Liberal Party, which, among other things, explained how the federal Labor Party imports migrants that are more likely to vote Labor. Barrie noted that Indians comprise the largest migrant group imported into Australia. New Indian migrants overwhelmingly vote for
I’m not sure it will be a high-speed or especially smooth lift, but the German election result should aid the AUD at the margin. CDU Conservatives will form some kind of coalition excluding AfD. The hope is it will attempt to alter the fiscal cap in the German constitution, but that won’t be easy, requiring
The prospect of interest rate cuts from the Reserve Bank of Australia (RBA) has engineered a rebound in Australian house prices. This year’s final auction clearance rates have rebounded strongly, which historically is associated with an uplift in prices. This weekend’s preliminary auction clearance results from CoreLogic suggest that the auction rebound continued, with a
DXY was firm. AUD legged down the leg up. Jaws still open. Oil was flogged. Can’t find an obvious reason. Commods mixed. Miners down. EM Deep Seeking continues. Junk yawn. Yields rolling? Stocks puked. US housing and services data was soft but not terrible. Perhaps everything was exaggerated by Batwoman’s new coronavirus. More likely were
Congratulations must go to the Albanese government and its Grand China Grovel, for it has delivered what is left of “Australia” a truly unprecedented outcome. When Qantas pilots jetting across the Tasman have to worry about the threat of potshots from Chinese warships, the stabilisation in relations between Canberra and Beijing has reached its limits.
International Reading: Donald Trump gets bad news on economy: poll – News Week Economist Warns That Elon Musk Is About to Cause a “Deep, Deep Recession” – Futurism Is DOGE Just Making Up Numbers And Hoping No One Notices? – Huff Post Trump says his administration will check Fort Knox ‘to make sure the gold