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Market Update October 2017

  • The share markets continue to rise!, with the US market up around 2.7% in the last month, and the Australian market up over 3% since the start of the month (at time of writing).
  • As anticipated, the Reserve Bank of Australia left interest rates unchanged at 1.5%. The official rate has now been held steady at this level for more than a year.
  • The economy expanded 0.8% in the June quarter of 2017, taking the annual pace of growth to 1.8%. The expansion was supported by strength in net exports as well as domestic demand.
  •  In spite of more than 54,000 jobs being added in August, official statistics suggested that unemployment remained unchanged at 5.6%. The figure remains close to five-year lows.
  • In September, most commodity prices moved lower. Iron ore, for example, fell almost 20% ahead of China’s National People’s Congress in October and on demand concerns given steel production cuts in China

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