The Aussie is still overvalued, says the RBA, and there’s more scope for further rate cuts.
The RBA has left its cash rate on hold at 2.75%
A raft of mixed global manufacturing data, the ongoing Japanese slide, more Fed-speak, a bounce in commodity prices and a big bounce in the Aussie make for more confusion. Dow up 138. (Accessible only for subscribers before 10:15 AEST)
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.
Wall Street rallied last night on a weaker GDP result, implying a delayed Fed exit. Dow up 21. (Accessible only for subscribers before 10:15 AEST)
Wall Street has concluded that a Fed exit is inevitable eventually and has decided it’s time to switch out of yield stocks. Dow down 106. (Accessible only for subscribers before 10:15 AEST)
Strong confidence and house price data pushed stocks up and bonds down on Wall Street, despite the Fed tapering risk. Dow up 106. (Accessible only for subscribers before 10:15 AEST)
Ford shuts shop in Australia, Australian dollar forecasts are reviewed and brokers ask when the rally in Australian banks will end.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.