Daily Murmur 01/12/10

by Gary Glover

GDP came in at .2% for the Sep Qtr which was well below the average forecast at .5%.  Full Year growth has been forecasted lower now as a result of this low number.

This is showing that the Australian economy is slowing and that any further rate hikes are unlikely.  This is likely to cause further selling in the Aussie dollar in the short term and have a negative impact to our broader market. 

The Australian economy has just possibly seen an end to it's honeymoon period.


Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.

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