Internet Banking

Farming publications

Weekly Economic Commentary

Weekly Economic Commentary

Categories: General, Commodities

It was a fairly quiet week on the domestic data front with local markets largely taking guidance from developments offshore.

Negotiations between Greek and Eurozone officials around their “loan agreement” have dominated the economic headlines over the last week. With Wall Street having closed at a record level last Friday, and after positive news around the Greek bailout program, our market is set for a strong start to the week. Even European shares hit a seven-year high over the weekend on optimism that Eurozone finance ministers would conclude a deal with Greece.

The key economic release on the data calendar this week will be the capital expenditure survey, with the Reserve Bank watching the forward estimates for expenditure, ahead of their monthly Board meeting next Tuesday. Financial markets are currently pricing a 50% probability of another rate cut from the RBA next week.

Source: Rural Bank

 

Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank Limited accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank Limited ABN 74 083 938 416 AFSL 238042.