RBA governor Glenn Stevens suggests the Australian consumer won’t be cautious forever, but he does believe productivity is the key to eternal happiness.
The White House announced it would veto the Republican bill and Wall Street turned cautious once more. Dow down 91.
A cautious Wall Street awaited an after-market announcement from the Republicans. Dow down 88.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.
CIBC World Markets expects the euro, yen and Australian dollars will all end the year weaker against the greenback.
Westpac’s leading index is showing the lowest growth rate expectation since Sptember 2009.
Apparent resolution in Washington and a back-down from the ECB combined with strong US earnings to produce the best day for Wall Street in months. Dow up 202.
At its July meeting the RBA decided developing events suggested caution, but that the next CPI result would be the dominant factor for policy.
Analysts have done their own stress tests on Euro banks and found disturbing results, sending gold up through 1600. Dow down 94.