Another gloomy month for the domestic sharemarket, dropping just over 2% (more) since the start of the month to 5,800 at the time of writing (28th November). Over in the States, they fared a little worse with the Dow Jones falling around 2.5%.
All of this doom and gloom is despite what appear to be strong fundamentals. In Australia; inflation has slowed a little and is on track for 1.9%, while unemployment has declined to the lowest level since 2012 at 5.0%. In the US, early estimates for the 3rd quarter suggest GDP is on track to be 3.5%. Also, 134,000 jobs were created in September, which makes a total of 2.5million jobs being created in the US in the space of a year and unemployment is at a 49-year low at 3.7%!
The Aussie $ has had quite a turbulent time this month, rising in value from around 71c at the start of the month, up to 73.3c mid month, dropping back to 72.3c currently.