davidscutt

Markets

Australia’s house price downturn is now the largest on record

Australia’s house price downturn is now officially the largest on record. Median home prices have now fallen 8.2% in nominal terms, surpassing the previous record decline seen in the early 1980s. At 20 months, the current downturn is also one of the longest on record. UBS expects prices will eventually […]
Australia’s house price downturn is now the largest on record
Markets

Australian economic growth hasn’t been this slow since the GFC

Australia’s economy grew by 1.8% in the year to March, the weakest increase since the GFC. The economy expanded by 0.4% in the first three months of the year, faster than the 0.2% lift in the prior quarter. Solid government demand underpinned the weakness, offsetting very weak growth in household […]
Australian economic growth hasn’t been this slow since the GFC
Markets

Iron ore prices rebound following a string of heavy losses

Iron ore prices rebounded on Tuesday, snapping the longest losing streak seen in months. Chinese steel futures reversed early losses to close higher, likely helping to support sentiment. The Caixin-IHS Markit China Services PMI for May will be released on Wednesday. Iron ore markets rebounded on Tuesday, helped by strength […]
Iron ore prices rebound following a string of heavy losses
Markets

Your 10-second guide to today’s Australian GDP report

Australia’s latest economic report card will arrive on Wednesday with the release March quarter GDP. While a lagging economic indicator, revealing what happened in the past, the GDP report has significant implications for unemployment, inflation, investment, household incomes and government tax receipts in the future. After a strong start, the […]
Your 10-second guide to today’s Australian GDP report
Markets

RBA CUTS RATES TO 1.25%

The Reserve Bank of Australia cut official interest rates by 25 basis points in June, leaving the cash rate at a new record low of 1.25%. It was the first reduction in the cash rate since August 2016, and the first during Philip Lowe’s tenure as RBA Governor. The bank […]
RBA CUTS RATES TO 1.25%
Markets

Business confidence soars following the Coalition’s shock election victory

Australian business confidence has surged following the Coalition’s shock election victory, according to those firms surveyed by Roy Morgan Research. The increase in May was the largest since the Coalition entered office in September 2013. Firms surveyed after the election were particularly optimistic. A majority of businesses believe now is […]
Business confidence soars following the Coalition’s shock election victory
Markets

Iron ore tumbles below $100 as Chinese steel futures slide

Iron ore prices fell heavily across the board on Monday, extending losses seen over the past week. The benchmark price is now back below the $100 a tonne level for the first time since May 16. Chinese steel futures fell heavily again on Monday. This was cited as one factor […]
Iron ore tumbles below $100 as Chinese steel futures slide
Markets

Fed rate cut speculation pushes the Aussie dollar to a 3-week high

The AUD/USD rose to a three-week high on Monday. Weak economic data and dovish commentary from a senior US Federal Reserve member saw US bond yields tumble, dragging the greenback lower. Markets are now pricing in two 25 basis point Fed rate cuts this year. The RBA will almost certainly […]
Fed rate cut speculation pushes the Aussie dollar to a 3-week high
Markets

Your 10-second guide to today’s Australian retail sales report

Australia’s April retail sales report will be released on Tuesday. After a weak result in the March quarter of this year, seeing real, inflation-adjusted retail sales go backwards for the first time since the middle of 2016, another soft spending update is expected today. Some are even forecasting an ugly […]
Your 10-second guide to today’s Australian retail sales report
Markets

Your 10-second guide to today’s RBA rate decision

The Reserve Bank of Australia (RBA) will announce its June monetary policy decision on Tuesday. To say expectations for a rate cut are elevated is an understatement. Almost everyone in financial markets expects the RBA will ease policy settings today. Given a cut is deemed to be a near-certainty, the […]
Your 10-second guide to today’s RBA rate decision
Markets

Downside risks for Australian economic growth ease, but not for good reasons

Inventories at Australian businesses rose unexpectedly in the March quarter, diminishing downside risks for Q1 GDP growth. The increase partially reflects weakness in retail sales in the first three months of the year. Australia’s Q1 GDP report will be released on Wednesday, June 5. Inventories at Australian businesses rose unexpectedly […]
Downside risks for Australian economic growth ease, but not for good reasons
Markets

Chinese manufacturers haven’t been this pessimistic since at least 2012

Activity levels at Chinese manufacturing firms continued to improve last month, bucking economist expectations for weakness. New orders from both home and abroad increased, despite an escalation in trade tensions with the United States. Despite firmer demand, confidence slipped to the lowest level since at least April 2012. Activity levels […]
Chinese manufacturers haven’t been this pessimistic since at least 2012