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Within the latest edition was the following Market Update:
Market News
Market Indices
Since our previous edition, Australian and global sharemarkets have both had negative fortnights. The S&P ASX200 Index has fallen 4.96% from the 29th October to the 12th of November, up 13.85% for the calendar year so far. The S&P Global 1200, a measure of the global market, has fallen by 6.11% over the same period, placing the index up 6.75% for the year.
Emerging markets also saw negative movement with the MSCI Emerging Markets Index falling 7.35% for the fortnight but is up 28.64% for the year so far.
Property trusts have continued to move downwards over the past fortnight with the S&P ASX 200 Property Trust Index falling by 8.00%, to be down 6.90% for the year so far. The S&P/Citigroup Global Real Estate Investment Trust (REIT) Index, a measure of the global property market, also fell 4.25 % for the fortnight, and has fallen 8.86% this year so far.
Exchange Rates
As of 4pm the 12th November, the value of the Australian dollar had fallen (the first fortnightly fall since the 20th August) over the past fortnight with the Aussie dollar down 3.44% against the US Dollar at .8924, but up 12.78% for the year so far. It was also down 4.14% against the Trade Weighted Index at 69.4, still up by 6.93% for the year so far. (The Trade Weighted Index measures The Australian dollar against a basket of foreign currencies.)
General News
Last Wednesday, the RBA board announced a lift in the target cash rate by 25 basis points to 6.75%. The Australian Bureau of Statistics has also released the latest employment data up to the end of October. The unemployment rate has risen slightly to 4.3% with full-time employment increasing by 70,600 and part-time employment decreasing by 57,700.
Regards,
Scott Keefer
