Finance News

Monthly Market Report for May 2017.

Monthly Market Report for May 2017. Below are the key points for the month:
  • The RBA kept the overnight cash rate at 1.50% at the April board meeting. The rate was also left unchanged at the May board meeting.
  • In fixed income, the 3 Month Bank Bill Swap Rate fell by -0.06% to 1.72, and the 10 Year Australian Bond Rate fell by -0.13% to 2.59 in April.
  • Spreads on Australian corporate debt continued to fall in April, as indicated by the iTraxx Australian Index declining -2.38 points to 81.88.
  • Australian shares rose over the month, with the All Ordinaries Index and the S&P/ASX 200 Index gaining 0.74% and 1.01% respectively. Domestic listed property outperformed the broader share market, rising 2.56% over the month.
  • Global equity markets mainly rose over the month, with the Hang Seng (Hong Kong) Index gaining 2.09% to be the best performer in April. The UK was the worst performing market in April, down by -1.62%.
  • Gold price gained 1.65%, whilst oil and iron ore prices fell by -2.51% and -16.67%, respectively, in April. The overall CRB Spot Commodity Index fell by -1.42% in US Dollar terms.
  • The Australian Dollar fell against most major currencies again this month, -2.21% against the US Dollar, -3.90% against the Euro, -5.45% against the British Pound, and -3.00% against the Japanese Yen.
  • The Australian Trade Weighted Index (TWI) fell by -2.57% over the month, ending April at 64.50.
Share market volatility rose domestically (0.16%) and fell in the US (-1.55%).

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