Tag: economy
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Australian dollar surges above US 77c
The Australian dollar has reached its highest point in two years in the wake of a weakened US dollar and an increase in commodity prices. The Australian dollar is now worth over US 77 cents, reaching a high point of 77.07 US cents, which is an increase of 2%. The surge comes in the wake of…
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Gold hit a five week low with further losses expected
Gold has sunk for the sixth straight session, reaching a five week low with more losses expected in the coming days. U.S. gold futures settled at $1,203.20 on Friday. Gold futures were at the lowest level since February 1st at $1,202.90 with the February level being $1,199.70. Spot gold didn’t fair much better, as it was down by 0.32% at $1,203.58 per…
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Bitcoin value overtakes gold for first time
The digital cryptocurrency known as Bitcoin has exceeded the value of gold for the first time since the introduction of the payment method in 2009. Demand for the digital currency has skyrocketed in recent times,particularly in China. Its stock price closed today at a base value of US$1268, with an ounce of gold trailing it at…
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Australian trade surplus falls by two-thirds
Australia’s trade surplus has fallen to $1.3bn for January 2017, a drop of almost two-thirds from December 2016’s significant $3.3bn surplus. This surprising decline defied the expectations of many market experts, who had predicted further growth in the surplus following the record-breaking surplus recorded for December 2016. However, economists have been quick to address the situation, stating…
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Deutsche Bank pays $9.5 billion for contributing to GFC
Deutsche Bank this week reached a final settlement with the US Justice Department over their handling of mortgage-backed securities prior to 2008. The bank agreed to pay $9.5 billion (or US$7.2 billion) and admitted to misleading investors. Deutsche Bank admitted to misleading customers about the loans underlying the securities, including falsely claiming that loans had been…
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Petrol prices soar
Petrol prices are soaring throughout Australia, with reported rises of as much as 20 cents a litre in some areas. It is expected that $1.40 per litre for unleaded petrol will be the benchmark for this month. Figures from the Australian Institute for Petroleum show that the national average price rose 2.2 cents this past…
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Be careful of the 1:42pm stress
According to a new survey by Groupon, 1:42pm precisely is the most hectic and stressful minute of the day. With an average person spending 8 hours or more at work, they develop patterns of tiredness and drowsiness during the day. 60% of individuals do not have time to relax at home because of family commitments…
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How to become wealthy
Everyone wants to be wealthy (or at least well off) and be able to choose when and why they work. It’s difficult to feel like you’re achieving anything when you’re paying a lot of rent or paying $5 for a coffee every day, but we’ve got some tips to help you save better and spend…
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Australian tourism industry booming
The Australian Bureau of Statistics has reported that Australia received more short-term visitors than ever in October. The Australian tourism industry recorded over 713,300 more visitors than the previous year, an improvement of 12.7%. That increase in short-term visitors takes the year’s total to over 8 million visitors, with an increase of 819,800 arrivals (or 11.2%)…
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Western Sydney Housing Prices On The Rise
Recent real estate reports have shown that housing prices in Western Sydney are rising sharply, in direct contrast to housing prices in Sydney’s CBD. Reports show that real estate prices in the CBD have fallen an average of 6.3% in the last 12 months. A local woman managed to snap up a four bedroom penthouse in Sydney’s…