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The Week Ahead

                                A quieter week is in prospect in Australia in the coming week on the economic and financial calendar. Featured is the release of minutes of the Reserve Bank Board meeting, held on August 6. Just like in Australia, the…

CommSec Daily Report Friday

Latest News Local shares are trying to recover from Thursday’s 2.8% decline seen on the ASX 200. The benchmark index is drifting lower at lunch on Friday by 9 points or 0.14% to 6399.1 after swinging between gains and losses throughout the morning. Wall Street posted small gains with US retail sales data beating expectations,…

Airfares slashed to lift passenger numbers

Airfares slashed to lift passenger numbers Overseas arrivals/departures; Air traffic; Airfares; Wages This report looks into the detail of the economic data that was released yesterday. Air travel flattens: In June, there were 4.71 million passengers on regular domestic flights, down 0.2 per cent on a year ago. Passenger numbers on the Sydney-Melbourne route were…

ASIC’s responsible lending case dismissed by Federal Court

On 1 March 2017, ASIC commenced Federal Court proceedings against Westpac to test the responsible lending provisions of the National Consumer Credit Protection Act 2009 (Cth) (the Act) (17-048MR). The matter was heard in May 2019 and today Justice Perram handed down his decision. The Act requires lenders to assess whether loans will be unsuitable…

Australia’s strong job market

Australia’s strong job market Labour force Employment rose for the 33rd time in 34 months, up by 41,100 jobs in July after a revised 2,400 fall in jobs in June (previously reported as an increase of 500 jobs). Full-time jobs rose by 34,500 with part-time jobs up by 6,700. Economists had tipped an increase in…

CommSec Daily Report Thursday

Latest News The Australian sharemarket has been aggressively sold off in early trade on Thursday. At the worst levels of the morning the Index was down 154 points or 2.3 per cent to 6,442. The follows steep falls overnight for US and European stocks in response to escalating concerns around slowing global growth. The Dow…

The Daily Fix – A relief rally, but sentiment is still fragile

After painting a pretty dour overview of the world in yesterday’s write-up, it seems the combination of a world that is incredibly long of gold, JPY, CHF and bonds, married with Trump offering even the slightest belief of convergence with China, has resulted in swift part position-adjustment. The fact we are hearing China sticking to…

CommSec Daily Report Wednesday

Latest news The Australian sharemarket (ASX 200) is down by 0.2 per cent or 14pts to 6,577 at lunch, snapping a four-day winning streak on rising geopolitical tensions. While equities are retreating globally today, the price of gold, the Japanese Yen, US dollar and bonds have strengthened. This tends to happen when markets are in…

Fastest Victorian annual wages growth in 5½ years

Fastest Victorian annual wages growth in 5½ years Consumer views on home purchases hits 5½-year high Wage Price Index; Consumer confidence Wages: The wage price index rose by 0.6 per cent in the June quarter (consensus: +0.5 per cent). Annual wages growth was steady at 2.3 per cent – near 4½ year highs. Public sector…

Annual business profitability conditions hit 4-year low

Annual business profitability conditions hit 4-year low NAB Business survey; Weekly consumer sentiment; Reserve Bank speech Business survey: The NAB business confidence index rose from +2.3 points in June to +3.9 points in July. The long-term average is +5.9 points. But the business conditions index fell from +3.6 points in June to +2.4 points in…