For a bit of utterly useless and non-relevant trivia, it was 100 years ago last Thursday that Albert Einstein formally presented the results of his eight-year study into gravity – the general theory of relativity that set the course for modern physics. Good on you Albert.
Meanwhile, the “relativities” in the marginally less complex (I think) world of financial markets has the US Federal Reserve and the European Central Bank(ECB) policy dispositions as key drivers at the moment. The US Fedis likely to raise rates and the ECB likely to cut rates (or at least announce some further stimulus), I must also highlight that the RBA meets this week to discuss monetary policy.
However, unlike their overseas counterparts, the RBA is almost certain to leave rates unchanged this Tuesday, happy to “chill out” over the Christmas holiday period and come back to work in early February (no meeting in January) armed with more economic data releases to then determine the course of monetary policyin 2016.