November 2024
In November 2024, the Australian and the US share market demonstrated a strong upward trend, largely influenced by positive economic indicators and a rally in US markets following Donald Trump's election victory, which boosted investor confidence in anticipated pro-business policies. Conversely, the Australian residential property market showed signs of cooling, with a modest increase in home values and declining sales activity attributed to rising borrowing costs and affordability challenges. The Reserve Bank of Australia maintained its cash rate amid ongoing inflation concerns, while mixed forecasts regarding future interest rate movements highlight uncertainty about economic growth and the potential impact of US policies on Australia’s economy.
