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A very strong set of non-farm payrolls numbers from the US overnight has reignited thoughts of a hike in rates from the Fed as early as Sept this year; and that has seen the US$ rally (the A$ lost almost a cent on the data release and now stands at …read more
ABS data for April shows Retail Trade unchanged in April from March (on a seasonally adjusted basis) which follows a 0.2% increase in March (revised down from 0.3%). However, before we get too excited about what appears to be a sharp decline in the main engine of growth (i.e household …read more
The first quarter GDP data released this morning has surprised the market coming in at +0.9% (exp +0.7%) for an annual rate of +2.3% (exp +2.1%). As a result the A$ took a short rally higher; although that now appears to have rather run out of steam. Stronger growth came …read more
The Building Approvals data for April has come in weaker than anticipated, but the result is due to the (highly volatile) units sector experiencing heavy falls in the month. Seasonally adjusted data shows total approvals fell 4.4% on the month for a 16.3% increase over the year. However, house approvals …read more
Data from the ABS for short term arrivals and departures in January show that, while total arrivals grew 2.2% (seasonally adjusted) from a year ago, the number coming from China is in decline. The seasonally adjusted data can be very volatile when considering the small data set of Chinese arrivals, so …read more
Today’s release of Capital Expenditure (CAPEX) data for the first quarter of 2015 has come in weaker than expected as buildings and structures investment fell faster than forecast. The seasonally adjusted chain volume measure shows CAPEX was down 4.4% in Q1 from the previous quarter and fell 5.3% from a …read more
Data released by the ABS today confirms that, while the number of arrivals into the country approached 9 million for the past 12 months and the rate of growth exceeds 8%, Aussies are starting to feel the impact of a weaker A$ and the rate at which foreign travel is …read more
Treasurer Curtis Pitt has made a speech in Parliament today claiming that through the last two quarters of 2014 Queensland was in a “recession we didn’t have to have”. Putting aside the obvious political point scoring going on, is there any sense in which we can claim that Queensland has …read more
Over the years we’ve got used to Bob Katter’s rather eccentric views and often distorted view of the world. In a piece in today’s Innisfail Advocate he rails against the Federal budget for apparently not stopping “600,000 migrants a year” from taking our jobs. He then points to an “additional …read more
Any concerns that the market might have had two weeks ago about the May 5th cut to the Cash Rate can be laid to rest by the Minutes of the meeting released this morning (and available here). The take-away message from the Minutes can be found in one of the …read more
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