The latest edition of The Financial Fortnight That Was has been emailed to subscribers. This edition looks at the role of exchange rates in investment decisions. If you would like to receive this free email service go to the Sign Up page found on our website.
Please read on for the latest market news for the fortnight concluding Monday 29th October.
Since our previous edition, Australian and global sharemarkets have both had positive fortnights. The S&P ASX200 Index has risen 0.79% from the 15th to the 29th of October, up 19.79% for the calendar year so far. The S&P Global 1200, a measure of the global market, has risen by 0.71% over the same period, placing the index up 13.70% for the year.
Emerging markets saw continued strong growth with the MSCI Emerging Markets Index rising 2.72% for the fortnight and is now up 38.84% for the year so far.
Property trusts have moved downwards over the past fortnight with the S&P ASX 200 Property Trust Index falling by 0.54%, to be up 1.20% for the year so far. The S&P/Citigroup Global Real Estate Investment Trust (REIT) Index, a measure of the global property market, also fell 2.84 % for the fortnight, and has fallen 4.82% this year so far.
As of 4pm the 29th October, the value of the Australian dollar had again risen over the past fortnight with the Aussie dollar up 2.04% against the US Dollar at .9242, up 16.8% for the year so far, and up 0.98% against the Trade Weighted Index at 72.4, now up 11.56% for the year so far. (The Trade Weighted Index measures The Australian dollar against a basket of foreign currencies.)
The Australian Bureau of Statistics has released the Consumer Price Index data for the September quarter. The data shows the headline inflation rate at 1.9% for the year with the core or underlying inflation rate sitting at 2.9%. For more analysis of this data please refer to the following blog entry.