Economy

Why Australians’ overseas travel hit a 24-year low in 2020

The COVID-19 pandemic played spoilsports with Australians’ overseas travel plans in 2020, with the numbers hitting a 24-year low. As revealed by...

US Dollar drops to 3-week low as vaccine optimism abounds

significantly as it rose to its highest level in about three years pushing past USD1.39. Tuesday marked a three-week low for US Dollar and a thre...

Why is Mastercard supporting cryptocurrencies on its network? 

Credit card payments company Mastercard (NYSE: MA) announced that it would allow cardholders to transact using some cryptocurrencies on its platform s...

Business confidence improves in January, conditions worsen: NAB surv...

Business confidence picked up in January even as business conditions declined from record highs in December, according to a survey. The fall in busine...

Australian Automotive Industry Back On Track As Vehicle Sales Pick U...

  The recently released data for new vehicle sales in Australia has further boosted hopes for a speedy recovery in the automotive industry. The...

Key Takeaways from Governor Lowe’s Speech

On the 5th of February, RBA governor Phillip Lowe presented his updated outlook for the Australian economy in his opening statement to the House of Re...

December retail sales fall as shoppers tighten purse strings

The Australian retailers suffered a drop in sales in December as shoppers pulled back from spending. The retail sales fell 4.1 per cent in December 20...

How Monetary Policy Decision Swayed the Australian Dollar

AUD/USD improved slightly on Thursday after a dip in the currency exchange rate observed on Tuesday. The highly traded pair has seen persistent declin...

How Australia racked up trade surplus despite tensions with China

Despite its unpleasant trade ties with the world’s second-largest economy, Australia has managed to chalk up an impressive trade surplus in Dece...

RBA Governor bats for continuation of monetary stimulus

In a categorical message to the financial markets, Reserve Bank of Australia (RBA) Governor Philip Lowe warned against the “premature” wi...

Why private house approval hit a new high in December 2020

The private sector house approvals surged for the sixth straight month in December and hit a record high amid robust demand due to stimulus measures a...

Why RBA kept interest rate unchanged

The Reserve Bank of Australia (RBA) left the official interest rates unchanged at 0.1 per cent as it expected the economic recovery to be stronger tha...

Payroll jobs rise in January; Queensland posts the biggest jump

With all states and territories reporting a rise, both payroll jobs and wages increased by 1.3 per cent over the fortnight to 16 January 2021. While t...

What Does 2021 Hold for the Australian Retail Sector?

Indeed, the Australian retail sector has been no exception in bearing the burden of stringent lockdown restrictions imposed in the wake of COVID-19 pa...

Queensland to lift restrictions, reopen the border to NSW from 1 Feb...

It is great news for people travelling to Queensland as the government has announced the reopening of its border to New South Wales from 01 February 2...

Why export prices saw biggest rise since March 2017

Amid strong demand in iron ore prices, the Australian export prices recorded the highest spike since the March quarter of 2017. The export price index...

NAB Business Survey reports dip in Business Confidence

The monthly business report published by NAB shows an increase in business conditions during December 2020. Business conditions reached 14 pts, the hi...

Brexit rules prompt Amazon to restrict alcohol sale in Northern Irel...

  UK-based broadcaster ITV PLC (LON: ITV) reported that US multinational company Amazon has stopped the sale of&nb...

Why Australia’s consumer prices climbed in December quarter

The consumer prices soared 0.9 per cent in the December quarter even as the Australian economy suffered the economic fallout from the COVID-19 pandemi...

Housing Market Set to Turn Bullish as Demand Skyrockets

The Australian property market is expected to experience a surge in prices as demand for property has been heating up since December. The new home sal...