Market Update - 31st August 2013
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Key Points for August 2013 |
- The RBA lowered the overnight cash rate by 0.25% to 2.50% during the
August meeting. The rate was left unchanged during the September sitting.
- The Three Month Bank Bill Swap rate gained 0.07% for the month, ending August priced at 2.46%.
- Ten Year Bond Rates also gained, ending the month 0.17% higher, priced at 3.90%.
- Australian equities continued their recent rise in August, with the S&P/ASX 200 Price Index adding 1.64% while the All Ordinaries Price Index added 1.78% for the month.
- Australian Listed Property declined by 1.12% in August, as measured by the S&P/ASX 300 AREITS Price Index, to continue its recent downward correction.
- Many of the major international equities markets posted poor results in August, with the MSCI World ex Australia Index falling by 2.21% in local currency terms.
- US Equities were the worst hit, with the Dow Jones Industrials Price Index and the S&P 500 Price Index falling by 4.45% and 3.13% respectively.
- Japanese and British equities also performed poorly, with the TOPIX Price Index and the FTSE 100 Price Index falling by 0.75% and 3.14% respectively.
- The USD price of gold posted a material gain for the second consecutive month, closing 5.27% higher priced at $1395.15 per ounce.
- Oil also gained in August, with the price of West Texas Crude rising by 2.49%. Overall, spot commodities gained 1.07% in August, as measured by the CRB Spot Commodity Index (USD).
- The Australian Dollar continued to fall in August, posting losses against most major currencies. Specifically, it depreciated by 2.81% against the British Pound (GBP) and 0.84% against the Japanese Yen (JPY). It also fell verses the USD, down 0.69%
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Source: Zenith Investment Partners
24th-September-2013 |
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