Australian shares closed lower on Thursday despite a 0.8% rise in monthly retail sales in November. The weaker Australian dollar, currently trading at US61.96 cents, and concerns about prolonged inflation influenced market sentiment. Star Entertainment shares dropped sharply after announcing a cash shortage, while Arcadium soared following the approval of Rio Tinto's takeover.
The latest retail sales data shows Australians spent big in November when Black Friday sales hit stores.ahead of a public holiday on Friday.
While the Australian dollar has fallen about 10% against the US dollar since a brief peak in September, against the broader Trade Weighted Index basket of currencies that reflects our main trade flows, the AUD is only down 4%.But Dr Ellis also points out the key phrase there — "sustained". During an interview with Fox News, Waltz said taking over Greenland would help deter Russia and China from controlling more resources.
Trump has not ruled out using military or economic action to acquire Greenland, which is an autonomous territory of Denmark. This is not the first collaboration between the two firms; in 2023, Telstra signed an agreement with Starlink to offer voice-only and voice-plus-broadband services in rural and remote areas of Australia., says the figures show turnover has strengthened in recent months, consistent with improved consumer confidence.
Core inflation, excluding volatile food and fuel prices, nudged up +0.4% last month from +0.3% in November, the highest in five months. "There are some nuances to this story. High wage growth and inflation in Brazil and Mexico will force central banks there to keep interest rates above our estimate of the neutral level."The US, China, and Europe are expected to grow moderately, avoiding severe downturns.
Good morning everyone, this is business reporter Rachel Clayton here to take you through the rest of the day.
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