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Bi Monthly Market Update | US-China trade tensions rattle markets

ByJody Fewster

US-China trade tensions rattle markets

  • International markets remain dovish with the EU lowering its GDP forecast and the US Fed backing down from any rate hikes this year.
  • US China trade negotiations have markets rattled after Trump threatened to raise tariffs from 10% to 25% on $US200 billion worth of goods. The Friday deadline looms.
  • US markets have corrected by 2% in the wake of this. After a weak start the S&P ASX 200 is now trading up at 6267.1 as I type.
  • The RBA held the cash rate at 1.5% for a record 33rd month yesterday whilst trimming its economic growth forecast for 2019 to 2.75% from 3%. Our strong jobs market has the unemployment at 5% and this would have to change before the RBA moves rates.
  • The Aussie dollar rose on the RBA news and closed at US .703c
  • On the commercial property front there are encouraging signs for retail property with CBRE reporting WA’s retail property sector outperformed the nation in the first quarter of 2019 with local turnover up 0.9%. Shopping centre yields have also improved sitting at an average of 6.2%.
  • The market has spoken! Purplebricks quits the Australian market proving sellers want in-depth local knowledge, rigorous processes and proven results when dealing with the sale of their family home. Call me for a personalised plan to get you moving.
Authored by Jody Fewster
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