This week, the Australian stock market showed positive momentum, with the ASX 200 closing up 0.9%. This uptick comes as the Reserve Bank of Australia (RBA) maintained its cash rate target at 4.35%, in line with expectations. However, the RBA’s guidance took a more hawkish tone, highlighting stronger-than-expected household consumption and potential inflation risks. Read Post
Cryptocurrency had its heyday when you could barely open a financial page without someone spruiking the latest in the technology, but it seems there is still some life in it.
National Australia Bank ($NAB) just bought a stake in a cryptocurrency business called Zodia Custody, which is a competitor to Coinbase. Zodia allows clients to hold crypto coins like bitcoin and ethereum, as well as tokenised real-world assets including commodities or property.
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Australia faced a challenging week as the ASX 200 dipped by 1.7%. Despite this downturn, there was a silver lining in the employment data, showing a drop in the unemployment rate to 4% with nearly 40,000 new jobs added in May, aligning with market expectations. This positive employment trend offers a glimmer of hope amidst the current market volatility. Read Post
One of the ASX’s leading healthcare stocks has returned to its 52-week highs as investors pile in after its May earnings results.
Fisher & Paykel Healthcare is up over 29 per cent over the last 12 months with its stock hovering close to its 52-week high at $28 per share as of Thursday. Read Post
The Australian market saw a significant boost last week, with the ASX 200 surging by 2.1%, marking its best performance since December. This rally was largely driven by the banking sector, which reached new record highs, and strong performances in Financials and Consumer Staples sectors. Despite this upbeat market movement, the economic backdrop revealed some challenges. Read Post
A broker’s note on the state of gold mining stocks has been a huge driver of trading activity for one Western Australian-based company. ASX Gold shares have been enjoying gains this year as investors look towards bullion as a safe haven in uncertain economic times. The price of bullion is currently trading around US$2,336 per ounce which is up over 15 per cent since the end of February.
In Australia, the ASX 200 faced a challenging week, closing down 0.3% despite a late rebound on Friday. The initial sell-off was triggered by a hotter-than-expected CPI print, where April consumer prices rose 3.6% year-on-year, surpassing estimates of 3.4%. This prompted a re-evaluation of inflation expectations and market sentiment. Read Post
Jake, a seasoned Raiz user of almost 5 years, embarked on his financial journey after discovering the platform through social media, first hearing about Raiz (‘Acorns’ at the time) through the Facebook group ‘Aussie Investors.’ “It was pitched as a way to save money,” Jake recalls, reflecting on his initial motivation to start using the platform. Read Post
Despite retesting its record high of 7,910pts last week, the ASX 200 was down 1.1% this week, reflecting growing doubts over the Fed’s potential rate cuts amidst strong economic data. The index experienced its first four-day fall in five weeks, with only four out of the eleven major sectors ending positively. Read Post
