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 –https://tinyurl.com/ycs5kr9r
• Now more than ever experience, knowledge and network count.
  Call me for your personal strategic plan.