AUD/USD advanced around 0.25% on Monday, paring some of last Friday’s losses. Last week’s Fed rhetoric capped AUD/USD gains. Australian retail sales were better than expected, boosted by tourism. AUD/USD recovers the 0.6900 figure after hitting a six-week low around 0.6840 in the American session, amid a risk-off environment, spurred by Powell’s Fed hawkish rhetoric […]
Tag: Australia
Australian retail sales beat estimates
Australian retail sales in July were much stronger than expected, underscoring consumer resilience in the face of soaring interest rates and a big rise in the cost of living this year. Retail sales rose 1.3% in July, the biggest increase in four months, according to the Australian Bureau of Statistics. Estimates were for an increase […]
State Department gives green light to sale of 40 military helicopters to Australia
The US State Department has approved the potential sale of military helicopters and related equipment to Australia, worth an estimated $1.95 billion, the US Pentagon announced. As part of strengthening its military presence in the Indo-Pacific region, Australia has requested to buy 40 UH-60M Black Hawk helicopters and the prime contractor will be Lockheed Martin, […]
Australia: Unemployment rate falls to 3.4% in July, its lowest level since 1974
The Australia’s seasonally adjusted unemployment rate dropped to 3.4% in July 2022according to data published today by the Australian Bureau of Statistics (ABS). Bjorn Jarvishead of labor statistics for the ABS, said: “As the employment fell by 41,000 people and the number of unemployed also fell by 20,000the unemployment rate fell 0.1 percentage point to […]
Australia: Unemployment at a 48-year low in July
Australia’s unemployment rate fell to its lowest level since 1974 in July, according to the latest figures released by the Australian Bureau of Statistics. In particular, unemployment fell last month to 3.4% from 3.5% in June, as reported by CNBC. “The drop in unemployment in July reflects an increasingly tight labor market, including high job […]
Political uproar in Australia with the superpowers secretly amassed by Morrison
A political uproar has erupted in Australia with the revelation that former Prime Minister Scott Morrison, alongside the country’s highest political office, had secretly assumed ministerial positions. Mr Morrison today sought to justify his action to be “co-minister” in five sectors by saying that the circumstances of the coronavirus pandemic required it. “As Prime Minister […]
Australia: Canberra airport evacuated after shooting – One arrest
LAST UPDATE: 09:40 Australia’s capital Canberra airport was evacuated and a man was arrested after shots were fired in the building’s main terminal, police said today. According to the same source, the man was taken into custody and a firearm was confiscated, while there are no reports of injuries. Police said footage from the airport’s […]
Ambitious climate targets from Australia
In a move that clearly differentiates it from the previous one, the government of Labor Prime Minister Anthony Albanese has tabled a bill to combat climate change, which, among other things, improves the country’s international image, according to political commentators. The bill envisages a 43% reduction in polluting gases from 2005 levels by 2030. The […]
Australia: Government condemns China’s military high schools around Taiwan
The military exercises that China has been holding around Taiwan since yesterday, Thursday, “are disproportionate and destabilizing,” Australian Foreign Minister Penny Wong complained today. “Australia is deeply concerned by China’s launch of ballistic missiles into the waters around the coast of Taiwan,” Wong said in a statement. “Australia shares the region’s concerns about this escalation […]
Australia: Downgraded estimates for unemployment and GDP and upgraded for inflation
Australia’s central bank downgraded estimates for unemployment in 2022, underscoring the resource-rich economy’s continued momentum despite a sharp rise in interest rates and a jump in costs for households and businesses. With unemployment already at a 48-year low of 3.5%, Australia’s central bank expects the rate to fall to 3.25% by the end of the […]