- The RBA kept the overnight cash rate steady at 2.25% during the March board meeting.
- Domestic yields continued to fall over the month, with the Three Month Bank Bill Swap Rate decreasing by -0.08% while the Ten Year Australian Bond Rate slipped by -0.16%.
- The price of Australian Shares decreased over the month, with the All Ordinaries Price Index and the S&P/ASX 200 Price Index declining by -0.62% and -0.63% respectively.
- Australian Listed Properties slightly underperformed the broader equity market in March, losing -2.50%.
- Global equities posted mixed results in various regions over the past month. The STOXX 50 European Index and the TOPIX Japan Index were leading performers, gaining 1.30% and 1.26% respectively.
- The US and the UK underperformed, with the Dow Jones US Industrials Index and the FTSE 100 UK Index decreasing by -1.97% and -2.50% respectively.
- Commodity prices fell by -1.41% in March as measured by the US$ CRB Spot Commodity Price Index. In particular, gold prices decreased by -2.38% while oil prices dropped by -4.34% to take its past year loss to -53.14%.
- The Australian Dollar continued to fall against the rising US Dollar (-2.03%), while appreciating by 1.73% versus the Euro and 1.09% over the British Pound. The Australian Dollar recorded a -1.20% decline against the Japanese Yen.
- The Australian Trade Weighted Index (TWI) fell by -1.25% in February, indicating a slight decrease in Australia’s international competitiveness. The US VIX Volatility Index rose by 1.95% for the month, while the S&P/ASX 200 Volatility Index increased by 0.66%.
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Source: Zenith Investment Partner
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