CoreLogic - Australian Million Dollar Markets. Is your suburb there?

Thank you, CoreLogic Australia Economist Kaytlin Ezzy and CoreLogic Australia Team, for sharing the comprehensive data and insights from the CoreLogic Million-Dollar Markets report as of June 2024 with the entire THE EXPATRIATE Community. We’ve put together some key points from the report. We hope you like them.

In August, 29.3% of Australian suburbs had a median house or unit value of $1 million, including 3,426 homes and 1,346 units from 4,772 suburbs. This is an increase from 21.7% in January 2023. The current percentage exceeds the 26.9% recorded in April 2022 at the last market peak. Despite high interest rates, low consumer confidence, and declining affordability, Australia's housing market has remained resilient over the past 18 months, with home values steadily rising since November 2023.

The latest Send Payments International Currency Market Update provides an in-depth exploration of the movements seen in major currencies, including the USD, GBP, CNY, NZD, and JPY.

In the news this week.

Jackson Hole and the Fed

• Central bankers, academics, and journalists are gathering at the mountainside resort of Jackson Hole on Friday, where Federal Reserve Chair Jerome Powell is set to deliver a much-anticipated speech. This event has become known as the "Davos for central bankers" over the past four decades.

• Powell is expected to outline a road map for US interest rates in an address that will be highly significant economically and politically.

• While his immediate audience includes central bankers and experts at the Jackson Lake Lodge, Wall Street will analyse the speech closely for clues on the Fed's future policy moves. Rivals in the US presidential race, Kamala Harris and Donald Trump will also be watching, with the November election looming.

Send Payments Weekly trading update on 5th March 2024!

Thank you Ian Cragg and the Send Payments Team for sharing the “Send Payments Weekly trading update!” With THE EXPATRIATE Community.

In The News Yesterday! 🌏

– Market Conditions and what’s in the calendar 🗓️

Economic Data Snapshot:

January building approvals in Australia fell below expectations.

Q4 inventories slumped, raising concerns about the potential impact on Q4 economic growth.

Despite a surge in company profits, the inventory number poses a challenge for the upcoming GDP report.

Send 26/02/2024 Currency Trading update! In The News Today! 🌏 Market Conditions and What’s on the Calendar 🗓️

 The AUD experienced mixed performance against major currency pairs last week. 

The AUD/USD pair saw robust upward momentum, driven by an optimistic domestic rate outlook and the Federal Reserve's decision to pause interest rate hikes. On the other hand, the AUD/EUR pair remained relatively stable, with market sentiment staying neutral amid expectations of the US economy outperforming the eurozone. The AUD/GBP pair experienced minor losses as the UK anticipates a rate hike from the Bank of England. In contrast, the AUD/NZD pair witnessed volatility due to divergent economic data from both countries.

Send Payments Currency Update - 2nd August.

For the most part, the AUD had a good week against other major currency pairs. It gained some ground against the USD, EUR and NZD while losing some ground to the GBP. The overall trend seems to be in favor of the AUD for now, but as the recession materializes, investors may switch to risk off positions soon, which could trigger a market correction. In any case, it's worth keeping an eye on the AUD in the coming weeks.