International Reads: Burnett asks Biden how he is going to turn the economy around. He said he already has – CNN Woke no more. Companies were starting to support political causes. Now they’re too scared to speak up. – Business Insider Trump promised to scrap climate laws if US oil bosses donated $1bn – The
The release of slightly higher than expected initial jobless claims overnight saw risk markets bounce back and the USD down, with the former continuing here in Asia as another trading week concludes. The USD remains relatively weak against most of the majors with Euro and Pound Sterling holding on to their respective gains while Yen
The latest survey from independent economist Tony Alexander warns that Kiwis have become increasingly concerned about job insecurity, which is dampening their appetite for consumption. Alexander also argues that the Reserve Bank’s aggressive monetary tightening is grinding households and businesses. Buyers are more worried about their incomes than at any other time during the four
The Market Ear with more. Just a pause? Gold has had a great run. Is this just a much needed consolidation before the next move higher? We are well above the 50 day still. 2340 is the short term resistance to watch. A close above it and things risk going squeezy again… Refinitiv PBoC slowing
The most advanced iron ore project in west Africa has been put on hold once more by Guinea’s temporary military administration, giving Australia and Brazil more sway over the seaborne market into China and northeast Asia. The government believes that partners Rio Tinto, an Australian mining company, and SMB-Winning, a Chinese company, have missed a
The government of Albanese has shown support for importing gas to the southern states in response to ongoing concerns that local gas output will not be sufficient to fill the gap by 2028. The government issued a warning in the 67-page planning strategy on Thursday, stating that more gas production from the existing offshore Victorian
The Australian National University’s (ANU) Centre for Social Policy Research released a report entitled: “It’s the economy (and housing), stupid: Views of Australians on the economy and the housing market in January 2024”. This report explicitly acknowledges that historically high immigration is the “main pressure” behind the inflation of Australian housing prices. In Section 9.2:
I spoke with Clinton Maynard of Radio 2GB on Thursday morning about the softening economic indicators, including the dramatic deterioration of the labour market. Edited Transcript: On Wednesday, Seek released their monthly labour market report. That is, the number of job ads, which is effectively employers demand for workers, and also the number of applications
Victorian Treasurer Tim Pallas appears to have finally discovered the notion of cost control. Pallas announced that the Victorian government’s share in the economy will shrink for the first time in 15 years, with total costs estimated to reach $98.3 billion in 2024-25 and $105 billion in 2027-28. The budget aims to keep expenses growth
The Guardian is The Greens propaganda sheet, and sometimes this comes with a few problems, such as this: Greens say government has ‘utterly caved to fossil fuel lobby’ with new gas strategy The Greens environment spokesperson, Sarah Hanson-Young, says the government’s new gas strategy shows they have “utterly caved in to the fossil fuel lobby”. In a