Consumption starting to kick

• There are some positive signs on the horizon with the US-China trade talks. There is no clarity on Brexit.
• The RBA minutes suggested another rate cut in 2019. Our market was up on this news with the S&P ASX 200 closing at 6695.3 yesterday. It is now trading at 6,674.
• After remaining steady at 5.2% in July, all eyes are on the unemployment figures due out tomorrow.
• The US Federal Reserve is meeting tomorrow and is expected to announce a 25 basis point cut.
• After rising 20% on Monday (the biggest jump in more than 30 years), Brent crude receded 6% overnight. Initial fears surrounding the supply disruption are settling with the realisation the world is less dependent on Saudi oil and there are healthy reserves in geographically dispersed locations across the globe. Gold jumped 1% after the strikes as investors sought safe haven relief.
• With consumption accounting for 60% of GDP today’s Financial Review reports of consumer spending turning the corner is welcome news; so Tax cuts are starting to take effect.
• Lending to investors and first home buyers in Western Australia is showing early signs of a rebound from its record slump, according to the latest seasonally adjusted data from the Australian Bureau of Statistics.
• With the spring selling season in full swing, if you are looking for a plan to get you moving before Christmas, call me today.