4m agoThu 5 Sep 2024 at 11:27pm Why market volatility is here to stay This one from ABC’s The Business. Investors may have certainty that US rate cuts are starting in September, but it’s unclear what economic conditions those cuts will bring. Investors are closely watching every data release and communication from central banks for...
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Tag: commodities
Live: Australian shares set to snap 10-day winning streak, Wall Street falls ahead of Powell’s rates speech
In a bid to get the federal government’s reforms to the Reserve Bank of Australia across the line, Treasurer Jim Chalmers has told the Coalition he would allow future governments to retain the power to overrule an interest rate decision by the central bank. As the ABC’s political reporter Isobel Roe explained to News Breakfast...
Live: ASX to open higher despite fresh warnings on Australia’s economy
5m agoWed 21 Aug 2024 at 10:41pm BOQ job cuts consultation will go until September 5 The bank just confirmed with ABC News that it started consulting on its 400 job cuts this week. This process will go until September 5. We’re still waiting to confirm if this process will include people offering themselves up...
RBA governor reiterates rate cuts unlikely in the near term, ASX closes higher — as it happened
Questioning has turned to housing, and the challenges with high rental increases and constructing new residential properties. Independent MP Allegra Spender asked about the intersection between houses being built by governments and those being built privately, and whether the two are adding to the challenges in building new housing. Bullock replies that there is “quite...
Live: ASX to open flat after mixed day on Wall Street
Good morning and welcome to the ABC’s markets blog! I’ll be with you this morning to help you get across the day’s business and finance news. Loading (That’s me, waking you up, to share the day’s news) Firstly, it looks like global markets have been continuing to recover from last week’s volatility. Stock markets had...
Live: RBA officials grilled over cost-of-living crisis, Australian shares open lower after Wall Street rebound
Analysts have said that along with the weak US jobs data, part of the market volatility in recent days has stemmed from other factors. Part of that is increasing geopolitical tensions in the Middle East. Another was the Bank of Japan’s decision last week to raise interest rates, which contributed to a rise in the...
Live: ASX higher after Magnificent Seven lose $US800b in value as recession fears stoke Wall Street sell-off
You’re going to hear a lot about “yen carry trade” today. Betashares’ David Bassanese spoke to the ABC’s Radio National this morning where he explained it very succinctly. He started off by explaining “the other big thing” besides the fears of US recession that could be worrying investors. “The Bank of Japan raised interest rates...
RBA board says no cuts expected in next six months after leaving interest rates on hold — as it happened
That’s the view of EY chief economist Cherelle Murphy, who spoke to finance presenter Alicia Barry on News Channel a short time ago. Asked whether the RBA will have capacity to cut interest rates by the end of the year — as money markets are currently pricing in — Ms Murphy said it’s unlikely there...
Live: Bank of England cuts rates for first time in four years, ‘pretty brisk decline’ likely on ASX after Wall St sinks
Good morning! It’s Friday, August 2 and you’re reading the ABC’s markets blog — and I am thrilled to have your company. Let’s kick things off with a quick look at what happened on Wall Street overnight, where trade wrapped up a short time ago. US stocks ended sharply lower on Thursday, despite seeing some...
Live: Rex Airlines enters administration, June quarterly inflation data to be released, ASX likely to rise
Good morning! It’s going to be a busy day for business and economic news, and I’ll be your guide! The local share market is likely to start its day higher despite a mixed performance on Wall Street (which was dragged down by a US tech sell-off). The Australian dollar was marginally weaker at 65.4 US...
ASX 1.3pc into the red after Wall Street wipe-out led by tech stocks
Market analyst Kyle Rodda from capital.com has put out a neat note to end the day. Here is his take on the action. “It has been quite some time since something really shook the tree and caused a scare in the markets. Wall Street was tangibly due for a big down day: it was approaching...
Live: Unemployment up slightly to 4.1pc in June
Bjorn Jarvis, the head of labour statistics for the ABS, says there are a couple of reasons behind the unemployment rate rising slightly in June to 4.1% “With employment rising by around 50,000 people and the number of unemployed growing by 10,000 people, the unemployment rate rose slightly to 4.1 per cent, and the participation...