First it was credit finance, then job ads, business confidence and consumer confidence posting significant drops in recent months. Now it’s housing finance.
It’s CPI week for both the US and EU while there’s enough data in Australia to make life interesting as well.
A new record for oil, a near record for copper, and a big move in aluminium were highlights in a session that saw the Dow down 49.
Citi has today downgraded Westpac and St George, leaving no remaining Buys amongst the Big Five.
Shares in BHP jumped 5% in offshore markets last night following speculation China is looking to move on BHP. The Dow closed down 36 points.
The NAB business survey for March shocked even the surveyors.
CBA has raised its mortgage rate again, ANZ has increased its bad loan provisions, and we haven’t started with first half results yet.
The state of the Australian economy will be clearer this week following, balance of trade, job ads, business and consumer sentiment and employment data.
The RBA currently has issues with which it has to “grapple”, noted Glenn Stevens, as retail sales figures slide.
A fall of 45 points in the Dow suggests Tuesday’s rally is holding up okay. Bernanke joins the recession chorus.