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Saved! 12k dwelling approvals to house 700k migrants

April 4, 2024 - 11:33 -- Admin

ABS with Building Approvals for February. The February 2024 seasonally adjusted estimate: Total dwellings approved fell 1.9%, to 12,520. Private sector dwellings exluding houses fell 24.9%, to 3,771, while private sector houses rose 10.7%, to 8,404. The value of new residential building fell 19.1%, to $5.79b. The value of non-residential building fell 16.0%, to $4.09b.

Oil spoils the AI party

April 4, 2024 - 10:30 -- Admin

The Market Ear with an oil problem. SPX technicals First support at 5240 and then the huge 5200 must hold area. So far the trend channel remains intact, as well as the 21 day. A break below the channel and things would get much more “dynamic”. Refinitiv VIX stays relatively short term stressed Chart showing

Alert! Alarm! Incoming iron ore missile

April 4, 2024 - 09:30 -- Admin

Iron ore continues to fall. Rbar was flat: Dalina had a shocker: We now have three days of Qingming public holidays. MySteel sums it up Last month, the absence of any noticeable revival in steel demand exerted significant downside pressure on ore prices, the report noted. For example, Mysteel SEADEX 62% Australian Fines had tumbled to $97.8/dmt

Macro Morning

April 4, 2024 - 09:00 -- Admin

Risk markets pivoted overnight on both the latest ISM services print and Fed Chair Powell’s speech, where he posited that rate cuts are on the way, but perhaps not too soon. The ISM was weaker than expected which sent bond markets on a round trip while Wall Street was able to get back into the

MB Fund Podcast Preview: Housing Rent Heatwave: How It Is Affecting Macro Investment Trends

April 3, 2024 - 20:00 -- Admin

Soaring rents are dominating the headlines in both Australia and Canada but not elsewhere. Both countries are running extreme immigration programs. Join us in this week’s investment podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen discusses what it means for these two countries from a macroeconomic perspective vs countries that do not have the

Macro Afternoon

April 3, 2024 - 16:30 -- Admin

Asian share markets are selling off across the board as risk sentiment inverts despite the strong economic data out of the US overnight. Tonight’s ISM services print might extend the concerns that the Fed may indeed delay rate cuts with the USD still falling but not yet making a major dent against the major currencies,

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