Key Points:
- The Reserve Bank of Australia (RBA) announced a 25
basis point (bp) cut in June, reducing the overnight cash rate for the second
consecutive month. - The 3 Month Bank Bill Swap Rate declined by 11bp
in June to end the financial year 89bp down.
- Australian Equities experienced marginal gains,
with the All Ordinaries Index gaining 0.04% and the S&P/ASX 200 Index price
rising by 0.45%. - Australian Listed Property performed strongly
during June, with the price of the S&P/ASX 300 A-REITs Index rising by
2.71%. - Many regional share markets posted gains during
June, with the TOPIX (Japan)
performing the strongest to gain 7.03%. European equities also posted strong
gains, with the STOXX 50 Index (Europe)
appreciating by 4.77% and the FTSE 100 Index (UK) rising by 4.70%. - The price of Gold appreciated by 2.37%, ending the
financial year 6.47% higher.
- Oil prices continued to decline, with West Texas
Crude falling by 1.81% during June.
- Overall, Commodities recovered some lost ground
during June, rising by 0.69%, to end the financial year 13.58% lower.
- The Australian Dollar appreciated against most
major currencies, in particular against the Japanese Yen (JPY), 7.06%, and the
US Dollar (USD), 5.17%. In absolute terms, the Australian Dollar gained 3.94%
as measured by the Trade Weighted Index (TWI). - Volatility
declined by 6.98% during June, indicated improved market sentiment.
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Source:
Zenith Investment Partners
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