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The ASX 200 had a steady week, rising 0.5% and setting two record highs early on. Markets cooled slightly towards the end of the week as economists pushed their forecast for the first RBA rate cut from February to May. This shift followed a core CPI reading that climbed to 3.5% year on year, up from 3.2%, keeping inflation at the forefront of the RBA’s concerns. The Australian dollar also saw some action, recovering to US65.12c after dropping to a four-month low earlier in the week.

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The ASX 200 had a solid week, rising 1.3% as 8 of the 11 sectors posted gains. Energy stocks led the charge, jumping 4.3%, thanks to rising oil prices driven by renewed Russia-Ukraine tensions. Local markets also saw some excitement with Cuscal Limited’s A$337m IPO—the biggest ASX Financial sector listing since 2021—and Digital Infrastructure REIT raising A$2.0bn ahead of its December trading debut. 

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Global markets experienced a pullback this week as investor optimism following the U.S. election took a pause. In Australia, the ASX 200 ended the week down 0.1%, reflecting a mixed performance. The index started the week lower as China’s latest stimulus measures underwhelmed expectations and declining commodity prices weighed on the market. However, an intraday rebound mid-week followed the release of wage price index data, which showed annual wage growth slowing to 3.5% in the September quarter—the lowest since early last year. This data prompted money markets to push out the timing of the first RBA rate cut to September 2025.

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Global markets showed resilience this week, buoyed by easing election uncertainty in the U.S. and positive economic data. The ASX 200 rose 2.2%, with 9 out of 11 sectors posting gains, led by Technology (+5.8%), Industrials (+3.7%), and Financials (+3.6%). The Reserve Bank of Australia kept rates steady at 4.35% in light of high underlying inflation. RBA Governor Bullock noted that the market’s expectations of rate cuts beginning in mid-2025 are generally in line with current economic indicators. 

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The ASX 200 faced a challenging week, closing 1.1% lower at its weakest level in seven weeks. Losses were broad, with only Technology (+2.5%) and Materials (+0.4%) sectors managing gains. As Australia tracked global selloffs ahead of the US Federal Reserve meeting and the presidential election, expectations for the Reserve Bank of Australia’s first rate cut were pushed further out, now anticipated in July next year. This follows quarterly CPI data showing core inflation rose 0.8%, exceeding forecasts of 0.7%.

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Raiz is thrilled to announce the addition of our first Tasmanian property to the Raiz Property Fund (RPF)! This modern home in Geilston Bay marks the 13th property in our expanding portfolio, furthering our commitment to providing Raiz investors with access to quality residential properties across Australia. The Raiz Property Fund offers a unique opportunity to invest in Australian real estate—a market known for its stability and growth potential—alongside a balanced mix of other assets. 

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By Thomas Stelzer

Raiz Invest has claimed the Investment Innovation award in the 2024 Finder Innovation Awards thanks to the launch of its Raiz Plus Portfolios. 

The Finder Innovation Awards look to recognise the companies, brands and platforms that seek to put the customer first by delivering disruptive products or services and it’s hard to think of a product that better fits that brief than Raiz’s Plus Portfolios. 

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The ASX 200 had a slightly challenging week, slipping 0.9%, but there were some positives—Consumer Staples held steady, and Australia’s strong jobs data suggests the economy is staying resilient. The Reserve Bank of Australia  is now less likely to cut rates soon, but all eyes are on next week’s inflation report. Economists expect inflation to slow to 0.4% for the quarter, which could keep rate cut discussions alive.

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The ASX 200 closed the week 0.8% higher, buoyed by strong results in the Financials (+4.1%) and Healthcare (+1.0%) sectors. Australia’s job market exceeded expectations, adding 64,000 jobs in September suggesting the Reserve Bank of Australia may hold off on rate cuts for longer. However, Friday ended on a softer note (-0.9%) as the Resources sector continued to face pressure after China’s fiscal stimulus package fell short of expectations. 

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