China’s economy and global trade concerns continues to weigh on investor sentiment. U.S. President Donald Trump yesterday fuelled concerns over trade talks, warning that he could walk away from a trade deal with China if it were not good enough.
Meanwhile, stronger-than-expected U.S. GDP data pushed the dollar up. The U.S. economy cooled by less than expected last quarter. The 2.6 percent annualized rate of gains in GDP perhaps suggest that growth could be stronger for longer as the Federal Reserve takes a patient approach to interest rates.
And in Australia, their home prices continued their long slide in February as credit conditions stayed painfully tight. The Reserve Bank of Australia is concerned that any further steep drop in house prices could undermine household wealth and spending.