- The RBA kept the overnight cash rate at 2.00% at both June and July meetings.
- In the fixed income space, the 3 Month Bank Bill Swap Rate and the 10 Year Australian Bond Rate increased by 0.07% and 0.27% respectively over the month.
- Australian Shares fell by -5.61%, as measured by the All Ordinaries Index.
- AREITs followed the downward movement of the equity market, with the ASX 300 Property Index decreasing by -5.50%.
- Global equities posted negative returns in most regions, with the FTSE 100 (UK) Index, the worst performer, declining by -6.64%.
- Despite a fall of -2.10% measured by the S&P 500 Index, the US was the best performing region amongst global share markets.
- Commodity prices rose by 0.36% over the month, as measured by the US$ CRB Spot Commodity Price Index. The price of Iron Ore increased by 1.69% while Gold and Oil fell by -1.73% and -1.38%, respectively.
- The Australian Dollar gained 0.22% over the US Dollar, while depreciating against most other currencies. In particular, it fell by -1.89% against the Euro, -2.26% versus the British Pound and -1.06% over the Japanese Yen.
- The Australian Trade Weighted Index (TWI) increased by 0.16% over the month, indicating an improvement in Australia’s international competitiveness.
- Share market volatility surged both domestically and abroad, with the S&P / ASX 200 Volatility Index and the US VIX Volatility Index increasing by 4.39% and 4.60%, respectively.
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Source: Zenith Investment Partner