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1.Market Observations, 8.Was Sticky

7 Aug 2019 (TheAge) – Global markets face ‘most dangerous financial moment’ since 2009

(7 August 2019, The Age, p1, By Shane Wright and Eryk Bagshaw)

Reserve Bank cash rate since 2001 (RBA, AFR)

Reserve Bank cash rate since 2001 (RBA, AFR)

‘The Reserve Bank has paved the way for even lower interest rates to drive down unemployment and protect Australia from an escalating United States-China trade war that has wiped more than $80 billion from the nation’s sharemarket. The ASX200 fell for the second consecutive day, dropping 2.5 per cent on Tuesday after the US officially labelled China a “currency manipulator” for its decision to let the yuan weaken against the American dollar. The bourse, which reached a record high last Tuesday, finished at 6478.1, its lowest point since early June.’

Read more (and see the interactive chart) at TheAge.com.au

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