Markets: Aussie Dollar Follows Markets Down
The loss on the Australian dollar extended on Friday night as it tumbled below 93 US cents in offshore trading after the market concluded that interest rates here will fall in coming months.
Companies in the News
Australian Economy
DIARY: RBA, ECB, Fed, Bank Of England Meet
Attention for investors here will be on the market financials like the banks, June 30 companies reporting and the Reserve Bank board meeting tomorrow, but we should also not take our eye off the US Federal Reserve's interest rate decision early Wednesday morning, our time.
Midday Market Roundup 01/08/08
A dismal end to a volatile week – down 40 helped by the 200+ point fall on Wall Street overnight. The SFE Futures suggested a 48 point fall in the market this morning. Suncorp-Metway has stolen the lime light for all the wrong reasons (read below) down 14%. Financials, Resources and Property all down. Even the gold stocks are down despite a gold price rise.
Economy Slumping: Rate Cut Needed ?
The Australian economy is in danger of slowing to the point where it drops into what's called a growth recession, where a weak and sluggish domestic economy is only supported by the still strong export sector, thanks to rising prices for exports of iron ore, coking and thermal coal, oil and gas.
Why The Slowdown Is Happening
Things have been pretty good for the Australian economy over the last 15 years.
WOW/ABC/JUST
Shares in The Warehouse, New Zealand's biggest retailer, fell sharply yesterday after Woolworths and rival Foodstuffs were blocked by a court from launching separate bids for the company.
The Last Bubble?
The iron ore, coal and steel booms are heading for the status of the last great boom/bubble as oil prices subside and other inflated investment areas (housing) bring economies around the world to their knees.
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