The ASX edged higher on Tuesday bolstered by banks and real estate players despite a negative lead from Wall Street and a hawkish tone struck by RBA governor Michele Bullock.
Eating out in this major city is much less expensive for Australian travellers,as is public transport and hotel accommodation.
The latest US inflation data was greeted euphorically by financial markets,which saw it as a signal that the US central bank’s work is done with rate hikes.
The Australian sharemarket has lost more than $50 billion in the last two sessions,as Treasury yields approached a decade high and conflict in the Middle East continued to weigh on investors.
The fall in the Australian dollar is expected to add to the challenges in retail,by raising costs when households are already tightening their budgets.
The weak Aussie dollar could worsen our inflation problem. But on its own,the lower exchange rate should not force the RBA to jack up interest rates.
The surging US dollar is setting off alarm bells as it smashes the Australian dollar and other major currencies.
Trying to time your investments with the fall of the Australian dollar could be profitable,but challenging to pull off.
Travellers will immediately feel the impact of the Australian dollar’s weakness after it fell to a nine-month low,but there may be broader implications.
The ASX has dropped sharply,following falls on overseas sharemarkets as China raises worries about the global economy.
Mining stocks dragged the ASX lower,and the Australian dollar dropped to its lowest point since November.