• The “Axis of ill will”, as “The Australian” is calling the authoritarian leaders of China, Russia, North Korea and Iran, have been making the headlines for all the wrong reasons. North Korean troops are on the ground in Russia. I didn’t see that one coming!
• Rising geopolitical tension led to investors flocking to safe-haven assets. Gold’s run is a keen example, hitting fresh records at just over $US 2,700 oz. As a result, the All Ords Gold index is up 30% year on year. Some are speculating US $3,000 is in sight.
• Stronger than expected US economic data has seen the US dollar rise and the Aussie dollar fall to US 65.6c, down from almost US 70c a few weeks ago. It’s great for exports but not so good for travel!
• All eyes on the US this week with 278 of the 500 biggest companies reporting their profits – including the tech titans of Amazon, Apple, Alphabet, Microsoft and Nvidia. Oh, and then there is the US Election…
• Today’s CPI read was in line with expectations, showing core inflation at 3.5%, still well above the RBA’s target range. After the IMF warned Australia is among the highest inflation countries in the world, the RBA is not expected to change rates until at least February 2025.
• REIWA’s latest snapshot shows the total number of properties available for sale in Perth is up 21.6% over the last 4 weeks, however still 2% lower than levels seen a year ago. The rental market while still tight, has stabilised with median rents flatlining.
• Call me today to chat about how these changing market dynamics affect your sales strategy.

by Jody Fewster