Sell with Confidence
Read More

Bi Monthly Market Update | Optimism over a faster than expected recovery…drives the Aussie dollar higher

By Jody Fewster

Optimism over a faster than expected recovery…drives the Aussie dollar higher

  • As expected, the RBA kept interest rates on hold yesterday with an optimistic tone to the minutes.
  • First Quarter GDP just announced shows a contraction of 0.3%. The average fall across the OECD is 6 times this number.
  • If economists’ predictions of a 10% contraction in June eventuate, we will be in recession for the first time in 29 years.
  • The S&P 200 ASX is up again today at 5,909.7 as I type.
  • The Aussie dollar has recovered to close yesterday at a 4-month high of 68.04 c.
  • Iron ore is over $100/t based on supply issues out of Brazil plus manufacturing data out of China shows signs of recovery of their economy and that is driving WA exports. The long-term average is $US64/t.
  • Gold hit $US1,700 (AUD$2,600) recently trading at its highest levels since 2011 (the all-time high is $US1,985).
  • Company profits rose 1.1% in the March quarter as restrictions to slow the coronavirus hampered trade. These beat economists’ predictions of 0.5%.
  • ANZ consumer confidence index lifted for the ninth straight week. It marks the longest run of consecutive gains on record.
  • House prices in Perth have come off only slightly (and not in the Western Suburbs) and stock levels remain tight.
  • Despite the rain and long weekend, our home opens were busy the last weekend with 133 buyers attending.
  • Ray White Now explains why, now is the right time to sell –
  • Now more than ever experience, knowledge and network count.
    Call me for your personal strategic plan.
Authored by Jody Fewster
Please call 0414 688 988 if I can provide you with a current market appraisal and detailed marketing plan for your home or investment property.
Up to Date

Latest News

  • We are so lucky to live here…

    US consumer prices rose 3.1% in the year through January cooling less than had been expected. The S&P 500 was above 5,000 for the first time on Monday putting it into “nosebleed territory” but has since come off after that hotter than expected inflation figure, which has clouded rate cut expectations. … Read more

    Read Full Post