Why buying the global shares’ dip may make sense
Buying the dips has usually made sense. In the 14 years since the financial crisis, it has generally paid to assume that central banks or the government would ride to the rescue at the first sign of trouble in the markets. Don’t fight the Fed has been a profitable mantra. It’s not just the desire…
Mining stocks buoyed by base metal strength
Stellar performances by nickel, lithium, uranium and iron ore in March drove some metal prices to new highs while zinc, copper and aluminium all closed the month stronger. Clarke Wilkins, Senior Australian Equities Analyst, responsible for the resources and energy sectors, looks at the major commodities and the sectors and stocks that have caught his…
Why the RBA should go easy on rate hikes
One of the stranger things about the Reserve Bank’s announcement of why it’s lifting interest rates by 0.25 percentage points is that it suggests inflation will come down by itself. “A further rise in inflation is expected in the near term,” the RBA says, “but as supply-side disruptions are resolved, inflation is expected to decline…
CommSec Morning Report Monday
Latest news • In US economic data, non-farm payrolls (jobs) rose by 428,000 in April (survey: 391,000). The jobless rate was unchanged at 3.6% (survey: 3.5%). Average weekly earnings rose 0.3% in April (survey:+0.4%) and fell from an annual rate of 5.6% to 5.5% as expected. Consumer credit rose by US$52.43 billion in March (survey:…
CommSec Morning Report Tuesday
Latest news • In US economic data, consumer inflation expectations fell from rose from 6.6% to 6.3% in April (survey: 6.8%). Wholesale inventories rose by 2.3% in March (survey: +2.3%). • European sharemarkets were weaker on Monday on fears of prolonged Covid-19 curbs in China. Travel & leisure lost 6% with technology down 5% and…
The Week Ahead
Australia: An eclectic mix of economic data is expected Over the coming week, survey results are expected on business and consumer confidence with data on overseas arrivals and departures and new home sales. Recently appointed Reserve Bank (RBA) Deputy Governor Michele Bullock participates in a panel discussion. The week kicks off on Tuesday with Roy…
Yuan weakens against Dollar
BEIJING – The central parity rate of the Chinese currency renminbi, or the yuan, weakened 660 pips to 6.6332 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each…
Shanghai’s major enterprises resume production
SHANGHAI – Over 70 percent of Shanghai’s 1,800-plus major enterprises have resumed work and production amid the city’s COVID-19 resurgence, according to a press conference on COVID-19 prevention and control held on Thursday. The industrial enterprises in Shanghai have made steady progress in resuming production, with the resumption rate of the first batch of more…
OPEC to increase oil output
KUWAIT CITY – The decision of the Organization of the Petroleum Exporting Countries (OPEC) and its allies to raise oil output will help restore market balance, Kuwait’s Deputy Prime Minister and Oil Minister Mohammad Al-Fares said on Thursday. The minister said that the decision aims to “restore market balance through a monthly increase,” and will…
CommSec morning report Friday May 6, 2022
Latest news In US economic data, according to Challenger, US-based companies announced plans to cut 24,286 jobs from payrolls in April (survey: 22,000). New claims for unemployment insurance rose by 19,000 to 200,000 in the past week (survey: 182,000). Unit labour costs rose by 11.6% in the March quarter (survey: +9.9%). Non-farm productivity fell 7.5%…
