Market Update 23rd August 2019
Updated: Dec 5, 2019
Investment markets and key developments over the past week
The past week saw global share markets recover some of their recent losses until President Trump’s trade war escalated again on Friday swamping dovish comments from Fed Chair Powell and whacking US stocks sharply lower with a flow on to other share markets likely to be seen early in the week ahead.
This saw US shares fall 1.4% for the week which took them back down to their August lows. Other share markets managed gains over the last week with Eurozone shares up 0.3%, Japanese shares up 1.4%, Chinese shares up 3% and Australian shares up 1.8% but all are likely to fall early in the week ahead in response to a sharp 2.6% fall in US shares on Friday. Bond yields were mixed over the last week with initial rises that were reversed on Friday as the trade war escalated again. Oil, metal and iron ore prices fell but the gold price rose. The A$ fell despite a rise in the US$.
Click on link below to read the full article by Dr Shane Oliver - Head of Investment Strategy and Economics, AMP Chief Economist