Breaking news

Consumers warned about fake investment opportunities

Losses to imposter bond investment scams have nearly tripled in the first half of this year with consumers losing over $20 million to these sophisticated scams. Imposter bond scams usually impersonate real financial companies or banks and claim to offer government/Treasury bonds or fixed term deposits. People often fall victim to them after searching online…

The Aussie Dollar Outlook

The US dollar has taken most of the recent headlines as an investor haven in uncertain times Meanwhile, Australia has experienced record resource demand and prices The Australian dollar is a compelling alternative to international investors seeking return and security The closely followed Reserve Bank of Australia (RBA) interest rate decision on Tuesday resulted in…

China’s weekly road logistics price index rises

— Southwest China’s Tibet Autonomous Region has achieved robust economic growth and stability over the past decade, according to a press briefing in the regional capital Lhasa on Tuesday. Tibet’s gross domestic product surged from 71 billion yuan (about 10.5 billion U.S. dollars) in 2012 to 208 billion yuan in 2021, with an annual average…

Pelosi jitters and Less dovish comments from Fed officials veer markets risk off ( Markets +OIL)

MARKETS Less dovish comments from Fed officials overnight snapped yields higher, with the US 10yrs rallying back to 2.75%. At the same time, more sabre rattling from China sapped some confidence from equity markets with a sea of red this morning across major global indices. As we wrote on yesterday’s Asia close note, prepare for…

Most aggressive interest rate moves in 28 years

The Reserve Bank (RBA) Board has lifted the cash rate by 50 basis points (half of a percent) for an unprecedented third straight month, taking the cash rate to 1.85 per cent – the highest level since April 2016. This also represents the most aggressive monetary policy action since 1994. The RBA increased the interest…

Delay to the ASX CHESS Replacement Project and Independent Review

ASIC and the Reserve Bank of Australia (RBA) (the regulators) acknowledge the recent announcement by ASX of the further delay to the Clearing House Electronic Sub-register System (CHESS) Replacement project. The regulators welcome the appointment of Accenture to provide an independent review of the new CHESS application software. This review is expected to assist ASX…

CommSec Moring Report Wednesday August 3, 2022

Latest news In US economic data, the JOLTs survey reported that job openings eased from 11.303 million in May to 10.698 million in June (survey: 11 million). According to Redbook, chain store sales in the past week were up by 15.5% on a year ago, compared with a 13.3% annual increase in the prior week….

International trade channels help enterprises expand globally

In the production workshop of Sirui Advanced Copper Alloy Technology Co., Ltd., based in Xi’an, capital of northwest China’s Shaanxi Province, a batch of high-tech metal materials was ready for export. Despite being located in the inland province, the company has extended its business tentacles to the world. It is a vital supplier to several…

RBA Monetary Policy Decision

At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 1.85 per cent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 1.75 per cent. The Board places a high priority on the return of inflation to the 2–3 per cent range over time, while keeping the economy on an…

Historic lift in inflation

The Melbourne Institute monthly headline inflation gauge rose by 1.2 per cent in July – the biggest monthly rise in 20 years. The annual rate rose from 4.7 per cent to a 19-year high of 5.4 per cent. In July, ANZ job ads fell by 1.1 per cent – only the second fall in the…