AUD: 68.9 US cents, 53.82 British pence, 61.63 euro cents, 75.7 Japanese yen, $NZ1.05Europe: FTSE 100 +0.8pc at 7,353, DAX +1.7pc 12,310, CAC +1.4pc at 5,448, Euro Stoxx 50 +1.6pc at 3,439At 7:16am , ASX futures were up 46 points or 0.7 per cent.
However, the Australian dollar had fallen substantially to 68.9 US cents, its lowest level in more than three years — on growing anticipation that the Reserve Bank would cut interest rates in the next few months.Australia's unemployment rate lifted to 5.2 per cent"We anticipate downward pressure will remain on Australian dollar as the chances the RBA cuts interest rates continue to firm," said the Commonwealth Bank's chief currency strategist, Richard Grace.
Another report showed the number of Americans seeking unemployment benefits fell more than expected last week, pointing to sustained labour market strength, amid slowing economic growth. European markets also staged a strong recovery, with London's FTSE adding 0.8 per cent and Germany's DAX rising 1.7 per cent.
The price of spot gold — the traditional safe haven asset — fell sharply to $US1,286 an ounce as investors poured back into riskier investments.
It’s a basket case.
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'A lot of uncertainty': Wall Street dives as US-China trade war escalatesWall Street took a pounding on Monday after China defied Washington by announcing retaliatory tariffs on US goods. Wall Street and Washington want you to believe the stock market isn't rigged
Source: smh - 🏆 6. / 80 Read more »
Uber makes lower than expected Wall Street debut | Sky News AustraliaRide-share company Uber has made its debut on the New York stock exchange, going public in a lower than expected first offering.\n\nIn the most high-profile US market IPO since Facebook in 2012, Uber began trading at $42, nearly 7 per cent lower than its initial offering price for the shares.\n\nThe company's IPO was already almost a third less than what investment bankers had predicted 12 months ago.\n\nDespite the company's lackluster start on the share market, the $8.1 billion that Uber raised means its debut was one of the largest in US history.\n\n\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Wall Street stocks plummet amid US-China trade war escalations | Sky News AustraliaWall Street has suffered its biggest losses of the year as markets respond to US-China trade tensions. \n\nAll three major US indexes dropped in a widespread sell-off, with Nasdaq posting its largest one-day percentage loss this year. \n\nBoth the S&P 500 and the Dow also saw their most substantial percentage downturns since January 3.\n\nThe fall has set up the Australian sharemarket for a steep decline on Tuesday, the ASX 0.9 per cent lower at the open and the Australian dollar sinking 0.8 per cent. \n\nThe volatility has come after China announced it would retaliate against the US by matching its tariff increase of 25 per cent in a tit-for-tat escalation. \n\n\n\n\n\n\n\n\n\n\n Well there go the Franking Credits. Sorry bout that Bill, you're to late.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'Tough week to go public': Billions wiped away as Uber flops on its Wall Street debutAfter much hype leading up to the largest initial public offering in five years, Uber stumbled out of the gate, wiping billions off its market value. Exploitative business model albeit popular with punters good, how many billions have they siphoned out of Australia Well, I remember all those taxi drivers that lost their livelihood in Sydney and elsewhere because of the illegal Uber - never been in one and never will
Source: smh - 🏆 6. / 80 Read more »
Uber shares fall further following Wall Street debut | Sky News AustraliaUber shares have plummeted even further on Wall Street after its disappointing stock market debut.\n\nValue is being driven down by investor concerns about the company's ongoing ability to turn a profit. \n\n\n\n\n\n\n\n
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'Wall-to-wall kerosene bush' a constant fire threat to World Heritage wildernessTasmania's Central Plateau is known for its harsh winters and unique plants, but landholders say it is under threat from climate change and a lack of fire management. The Greens elements in Tasmania will always be reluctant to allow controlled burns. I am surprised they allow grazing so close to a Heritage area. Charred black may replace clean green if they keep their opposition up but at least it would be pristine black
Source: abcnews - 🏆 5. / 83 Read more »
Parts of Elizabeth Street to be closed to cars under council planTwo city blocks along Elizabeth Street would be closed to cars under a plan to transform one of the last eyesores in Melbourne’s CBD into a more pedestrian friendly gateway to the city. Gee, another Bourke St mall & Swanston walk.. hold my 🍺 All this is going to do is increase congestion on the other streets. Swanston st is already closed off as is Bourke St. Give us a break. When I saw the top headline I thought it was going to be fed square.
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Australian shares follow Wall St dive after China retaliates against US tariffsThe Australian share market drops sharply in early trade — after China retaliated against US tariffs, causing Wall Street to suffer its worst trading day since early-January. The issue, is irresponsible Donald Trump, is playing with other people’s loot. Something he has done all his life....grow up USA and give him the Tijuana Brass....
Source: abcnews - 🏆 5. / 83 Read more »
Green light for Flinders Street hero who was supposed to be off-dutyIt was four days before Christmas in 2017 and Melbourne was packed with last-minute shoppers, tourists and office workers when more than 70 pedestrians stepped onto Flinders Street at the start of peak hour Must be a slow fear-porn day. Might as well post some 9/11 footage while you're at it. why are they running this story now? JackEastman64 Hundreds of cultural enrichment bollards have been installed since then.
Source: theage - 🏆 8. / 77 Read more »
Workers find possible bones near Metro Tunnel CBD work sitePolice are investigating the discovery of what are believed to be bones found at a construction site in the CBD on Thursday.
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Wall St rebounds as Trump downplays US-China trade war as 'little squabble'Australian shares are expected to claw back some of yesterday's losses following a rebound on Wall Street as Donald Trump tries to downplay the US-China trade dispute. Does Trump honestly believe factories are suddenly going to spring up all over the US with his on again off again tariffs? Industry needs long term stability before investing. And soon it will implode. 40-60 % correction between 2019 and 2022. Imagine having a leader of your country who is determined to make your economy stronger regardless of the impact on trading competition. Must be terrible ha ha
Source: abcnews - 🏆 5. / 83 Read more »