Sat, 24th May 2025
from Finance News Wrap Hosted by Paige Estritori
In the latest episode of the Weekly Finance News Wrap with Paige Estritori, we discuss the turbulent week in international markets due to newly introduced U.S. tax legislation. Widespread investor caution resulted in a slight dip in global markets and softer gains on Wall Street. Australia's ASX200 witnessed modest trading conditions, while the American dollar showcased resilience against major currencies. Global volatility impacted oil and gold prices, leading to drops in both commodities. On the domestic front, the Reserve Bank of Australia made headlines with another 25 basis point cut resulting in a cash rate of 3.85%. This move stirred concerns for first-time buyers amidst surging property prices. Investors increasingly favoured global equity ETF inflows, reflecting a 162% increase. Economists are also anticipating potential further RBA rate cuts. Stay updated with the major financial news on financialservicesonline.com.au.n
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