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ASX sinks 2.8pc in worst week since October Save Share Westpac lifts Australian dollar forecast to US85¢ by mid 2022 Sarah Turner Westpac lifted its Australian dollar forecast to US82¢ by the end of 2021 and US85¢ by mid-2022. The bank cited a steepening global yield curve, the outlook for commodity prices and likely ongoing solid momentum in China. “As usual there are always risks principally related to the global vaccine rollout; policy in China and the US fiscal stimulus,” chief economist Bill Evans said. “For Australia we are less uncertain, with fiscal and monetar...

Fear & Loathing At 11am this morning we will find out whether Sydney goes into lockdown for Christmas. On a case-count progression of 30-15-8 over three days the signs are positive, although we’re yet to learn yesterday’s number. The issue nonetheless is also one of just how many other sites in Sydney beyond Avalon the virus is popping up in. A shout out to those at the Rose of Australia in Erskineville which, a couple of decades ago, was my local. It is this fear that appears to have driven another sharp sell-off in the market yesterday, although one wonders just how much of it is end of...

T’was just days before Christmas The bad news is the Northern Beaches cluster has now popped up in other parts of Sydney. The good news that after 30 new cases were reported on Saturday, only 15 were reported on Sunday. That’s not the trajectory of exponential spread. Having been hit on Friday, yesterday travel and energy stocks and others impacted by the potential for a Sydney-wide lockdown for Christmas were sold down again. It was a choppy session, with traders unsure where to run. Mid-session the ASX200 was down -40 points. But when “15” hit the headlines there was some relief, an...

Australian share market ends on a high after Treasurer says recovery will be faster than forecast Posted ThuThursday 17 updated ThuThursday 17 Treasurer Josh Frydenberg says Australia's economy will make a faster recovery than previously forecast. ( Share Print text only Cancel Australian shares jumped to their highest close in almost 10 months, as projection of a faster economic recovery next year was announced by the Treasurer and unemployment figures were better than expected. Key points: The Australian dollar has risen again after yesterday's 2.5-month high to 75.7 US cents. Bitcoin has...

It has been a positive day of trade for the Australian share market as it continued to climb throughout the day ending 1.2 per cent higher. Shares in Netwealth (ASX:NWL) performed well today while Whitehaven Coal (ASX:WHL) did not fare well despite after upgrading its Winchester South Project metallurgical coal mine JORC Resource. All of the sectors closed in the black. S&P/ASX 200 Futures market S&P 500 futures are eyeing a rise of 8 points. The Nasdaq futures are eyeing a rise of 34 points. And the ASX200 futures are eyeing a 72 point rise tomorrow morning. Local economic news LabourF...