The following two infographics highlight quarterly movements in the economy and investment markets across Australia and New Zealand.
Unemployment has crept up slightly, compared to the June quarter. Currency has declined compared to the USD. The risk on the momentum of the June 2023 quarter has waned as equities fell locally and in the US. Notably despite the change in equity markets, the volatility index remains relatively steady. Following the negative trend of equities, Gold and Milk have fallen. Whereas Oil and Iron Oil have bucked the negative trend. Although headline inflation continues to fall, core inflation remains sticky and high, however, central banks have largely paused interest rate increases over the quarter. The real economy is slowing, but investors remain uncertain. Yields pushed higher while the inverted yield curve in the US flattened with fears of a recession now leaning toward a soft landing. There is a balancing point and quarter on quarter change highlights the rapid response to news and data flow by investors.
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