Yahoo Finance Yahoo Finance's morning wrap for Tuesday
Good morning.
Here is everything you need to know in finance this morning.
Aussie stocks: Futures are pointing to a slow start for Australian shares on Tuesday morning. However, oil prices have climbed higher overnight. US. Here are 5 things to watch on the ASX today.
World stocks: World stocks mostly rose on Monday ahead of more trade talks between Chinese and American officials in Washington this week. After Asian markets closed with strong gains, European indexes were more subdued. France’s CAC 40 gained 0.3 percent to close at 5,168.54 but the DAX in Germany was flat at 11,299.20. Britain’s FTSE 100 fell 0.2 percent to 7,219.47. Wall Street was due to remain closed for President’s Day.
Cash rate movement latest: Since 2005, whenever financial markets have priced in RBA rate cuts, the bank has usually delivered – eventually. As things currently stand, a 25 basis point rate cut is still fully priced by the middle of next year. ANZ Bank says the “hurdle for a rate cut remains fairly high” and would require a “sustained deterioration in the labour market and step-down in consumption growth”.
Bitcoin: Bullish bets on bitcoin, the world’s largest cryptocurrency by value, reached 11-month highs on Monday.
UK banking jobs: New EU rules are squeezing entry-level jobs in banking. City firms are cutting back on analyst roles due to new rules governing interactions between money managers and advisors.
2019-20 budget: Word has it that the framing of the budget, due to be handed down by Treasurer Josh Frydenberg the day after April fools day (and around 6 weeks before the election), is more problematic than usual.
Gold: While gold prices have remained relatively stable for several years, that does not mean this precious metal is permanently down for the count. Is gold really a ‘safe’ bet?
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