GLOBAL MARKETS RESEARCH

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Ray Attrill explains how fund managers exposed to US equities may be rebalancing their portfolios at month-end.

The US dollar was losing ground for most of the session before a sudden reversal that knocked the Euro off a multi-year high.

The labour market has improved sharply over recent months with employment outside of Victoria almost back to pre-pandemic levels.

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Treasurer Frydenberg today stated JobKeeper numbers have more than halved from a peak of 3.6m, to now just 1.5m as at 26 November.

The US dollar was losing ground for most of the session before a sudden reversal that knocked the Euro off a multi-year high.

The pound has already recovered the losses it made on Friday, when Brexit rhetoric was ramped up on both sides of the English Channel.

The ECB’s Philip Lane expressed concern about the tightening of credit standards which could impede the European recovery.

It’s Thanksgiving today in the US and markets have been cautious ahead of the holidays.

New positivity with the Dow breaking 30,000 for the first time, due in part to hopes for; a vaccine and a peaceful transition for the Biden administration.

The labour market has improved sharply over recent months with employment outside of Victoria almost back to pre-pandemic levels.

Astra Zeneca announced the results of their trials, with efficacy up to 90 percent with a drug that is cheaper to produce and easier to distribute.

NAB has revised its forecasts for growth in the Australia economy.

The markets are more focused on the short-term economic hit of lockdowns than the longer-term vaccine fuelled positive outlook.

Markets continue to be torn between the good news and the bad news.

There was no new vaccine news overnight and the markets seemed a little disappointed by that, with equities down and a move to government bonds.

As the economy starts to recover, the likely pace and strength of the recovery in the office and retail property markets is uncertain.

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