The Week Ahead
The End of Financial Year (EOFY) may be approaching, but tier-1 economic data in Australia is scarce this week. The latest update on Aussie household finances will be keenly observed given the laser-like focus of the Reserve Bank and economists on the biggest driver of economic growth – household consumption.In the US, economic growth and…
Australia keeps rates on hold ahead of growth data
Australia’s central bank kept interest rates at a record low Tuesday for a 20th consecutive meeting as it waits for signs of wage and price inflation as well as a drop in unemployment.The widely expected decision was made ahead of growth data Wednesday, with economists tipping the economy to have expanded a solid 0.9 percent…
Flu season helps CSL lift profit guidance
CSL has lifted its full-year profit guidance thanks to strong sales of products, including its Seqirus flu vaccine in the northern hemisphere. The vaccines and blood products supplier says sales of drugs to treat haemophilia and angiodema – a hereditary condition that can cause swelling of the face, abdomen and limbs – were stronger than…
US hopes to narrow wide gap in China trade talks
US Commerce Secretary Wilbur Ross said Thursday he hopes to reduce large differences with China in trade talks where hundreds of billions of dollars in commerce are at stake.‘The gap is wide,’ Ross said in congressional testimony, a week after he led a delegation to Beijing to try to resolve the thorny dispute.A high-level Chinese…
German minister offers hope of detente on Trump tariffs
A compromise could be reached as soon as this week between the European Union and United States over the tariffs President Donald Trump imposed on steel and aluminum, a German official said Monday.Talks with US officials could make it ‘possible to find a solution that can still avoid a decline into a heavy trade conflict,’…
Surprise trade deficit in November
Trade deficits return; Import growth at 7-year highsInternational tradeTrade deficits return: A trade deficit of $628 million was posted in November, rising from a revised $302 million deficit in October (previously reported as a $105 million surplus). The deficits followed five consecutive surpluses to September and it is the first time since October 2016 that…
Newcrest Mining inks Greatland Gold deal
Australia’s top gold miner Newcrest Mining Ltd says it has signed an exploration agreement for a joint venture with London-listed Greatland Gold Plc. The joint venture comes a day after Newcrest announced it will buy a 70 per cent interest in the Red Chris copper and gold mine in Canada from Imperial Metals Corp for…
New US antitrust task force could unwind tech mergers
A US regulator Tuesday announced the launch of an antitrust task force to focus on competition in the tech sector and consider challenging mergers and tie-ups retroactively.The Federal Trade Commission announcement comes amid increasing concerns in the US and elsewhere about dominant tech platforms such as Google, Facebook and Amazon.The FTC declined to name any…
Bank inquiry report to impact Aust trade
Australia’s share market is tipped to open positively but the release of the financial services royal commission report is likely to impact trade throughout the week. The positive start has been attributed to favourable company earnings and employment in the United States as well as a rise in oil prices in Australia, CommSec chief economist…
CommSec Daily Report Friday
Latest newsAussie shares are lifting for a second day and the 11th time in 15 sessions thanks to gains across almost all sectors. The ASX 200 is up 0.4 per cent and is near two-month highs, keeping local equities on track to have the best start to a new year since July 2016.US markets were…
