Global markets were lower overnight as a sharp drop in oil prices squeezed energy stocks. Oil prices are at a seven-month lows after news of increases in supply by several key producers, a trend that has undermined attempts by OPEC and other producers to support the market through reduced output.
Closer to home, while the Australian market was under pressure yesterday the NZ market briefly touched an all-time high.
Minutes from the latest Reserve Bank of Australia meeting showed that jobs and housing are still worries for the RBA. A continuing slide in the number of hours people are working and ongoing worries about household debt convinced Australia's central bank that the official interest rate should remain unchanged at its last meeting.
Positive signs in some areas of employment, better business conditions and evidence that a regulatory crackdown on investor lending is starting to bite encouraged the Reserve Bank of Australia board’s view of th...
Stock Markets, Simplified.