Bi Monthly Market Update | RBA minutes drive ASX gains

5 years ago•By Jody Fewster

RBA minutes drive ASX gains

The ASX-200 hit a fresh 11 1/2 year high today as the RBA minutes indicated further rate cuts are likely. The ASX-200 is now within 180 points of the record 6827.7 locked in before the GFC took hold in 2007.
Economists are betting on another rate cut in August. All eyes are on the US Federal Reserve who meet this week to see if they cut their rates.
The Aussie dollar dropped to a near 10 year low on the news and is now trading at US68.69c.
There is no clear view of US/ China trade negotiations nor any certainty about the UK leadership and its handling of Brexit.
Geopolitical tensions are rising with Iran’s latest actions in the Gulf.
There has been a visible uptick in the number of buyers in homes opens since the election and interest rate cut, and mortgage brokers are telling us they are seeing more applications.
We are appraising new homes across the Western Suburbs – Call me for a plan to get you moving.

Authored by Jody Fewster

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