Highlights:
-
In the US, trade-exposed sectors are suffering as a result of the trade conflict, but the consumer sector appears to be holding up well.
-
Economic activity in the eurozone weakened during the September quarter as outgoing ECB president Draghi warned euro-area fiscal policies were insufficient.
-
The UK parliament agreed to a general election on 12 December after prime minister Johnson was forced to ask the EU for an extension to the Brexit deadline.
-
The Chinese Ministry of Commerce appears favourable to an interim deal on trade with the US, but so far no rollback of tariffs has been agreed.
-
The RBA held off on further rate cuts at its November meeting, but markets still expect the cash rate to fall to 0.50% early in 2020.
If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly on (08) 8723 9822