In this update, Bob Cunneen, Senior Economist, reviews events in markets during August.
- The trade war between China and the US has intensified with Trump increasing tariffs – causing global share markets to fall 2%
- The June quarter economic activity data, saw Germany and Britain’s economies contract caused by a combination of the trade concerns and Brexit
- Gold prices reach levels that haven’t been seen since 2013
- The Australian share market dropped 3% during August – primarily caused by the trade war
- Two further quarter percent interest rate cuts are expected
Watch the MLC Economic update – August 2019 video below.
By Sinead Rafferty