The market focus this week will be on the fallout of last week’s Federal Budget as well as the latest employment data. Analysts are waiting to see whether there is any reversal of the massive 61,000 increase in the number of employed recorded last month and also whether the unemployment rate rises to 6.0%.
A massive global cyber-attack occurred late last week and may continue to claim victims as people return to work this week. Hackers, using a technique allegedly stolen from the US National Security Agency have infected more than 250,000 computers in more than 150 countries with a virus that encrypts files and demands a ransom to unlock them. Its affected hospitals, government agencies and companies including Nissan and Renault but to date mainly offshore, although Australia remains vulnerable. Nonetheless, readers should be careful and not open unknown file attachments in your email or click on links that you do not know.