Market Talk – May 3, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 closed Shanghai closed Hang Seng increased 268.79 points or 1.48% to 18,475.92 ASX 200 increased 42.00 [...]
The Reserve Bank of Australia has cut the official cash rate for the second month in a row to 1%. As we head into the turning point of the Economic Confidence Model come January 2020, the unemployment rate increased to 5.2% in April. GDP growth remains very low at 0.4%, wage growth is sluggish, inflation is well below target, and retail sales are struggling. None of this will change until after the ECM turns as people begin to see that central banks are incapable of managing the economy.