Global Markets Review - July 2019

Global Markets Review - July 2019

Aug 03, 2019 admin Australian economy, Equity, Fixed Income, Global economy, news 0 Comment

  • The Australian stock market had a strong result in July, outperforming other developed markets.

  • The RBA cut interest rates by 25bps to 1%, as did the US Federal Reserve. The Fed statement suggested there would not be any more cuts unless data deteriorated further - which triggered a 1% sell off.

  • Iron ore strengthened by $4.50 US/t to $121, and Gold rallied to $1,427 on risk aversion.

  • Boris Johnson took 66% of the Conservative Party vote to become Prime Minister of the UK.

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