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Sharemarket Update – July 18

Trade tensions continue to dominate the headlines, but despite this the All Ords is slightly up on the start of the month, at 6320 at the time of writing. The US is up a whopping 4.5% for the month to be at 25,414. This is still below it’s all time high back in January.

GDP in Australia grew 3.1% for the year as at 31st March – great result! Inflation remains below 2%. Unemployment unexpectedly dropped to 5.4%, although this was largely helped by a rise in Part Time employment. In 2017 the Australian population grew by 1.6% with migrants accounting for over 60% of this.

In the US the Fed reserve raised interest rates 0.25% as was expected. It’s believed they may increase a couple more times later this year and several times again next year. Their economy grew 2% in the year ending 31st March. Their employment figures remained buoyant with 223,000 new jobs in May.

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