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August 2018 Market Wrap

Notwithstanding political turmoil in Canberra, resulting in a new Prime Minister, Scott Morrison, the Australian share market continued its recent trend of gains. The All Ordinaries index closed the month of August 1.0% higher at 6,427.80 points. That said, the Australian Dollar fell by 2.9% in the month, with 1 Australian dollar currently buying 71.89 US cents.

Once again, the Reserve Bank of Australia (RBA) board kept the official Cash Rate on hold at 1.50% per annum. The RBA board is expected to keep the Cash Rate on hold when they hold their monthly meeting tomorrow.

Global share markets returns were mixed in August.  The United States' Dow Jones Index gained 2.2%, the London FTSE fell 4.1%, the Japan Nikkei 225 gained 1.4% and the Hong Kong Hang Seng Index fell 2.4% in the month.

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July 2018 Market Wrap

The Australian share market consolidated recent gains in July, with the All Ordinaries index closing the month 1.2% higher at 6,366.2 points. The Australian Dollar was steady, with 1 Australian dollar currently buying 74.07 US cents.

Unsurprisingly, the Reserve Bank of Australia (RBA) board kept the official Cash Rate on hold at 1.50% per annum last  month. The RBA board is expected to keep the Cash Rate on hold when they meet in August.

Global share markets returns were generally positive.  The United States Dow Jones index gained by 4.7%, the London FTSE gained by 1.5%, the Japan Nikkei 225 gained by 1.1% and the Hong Kong Hang Seng Index fell by 1.3% in the month.

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June 2018 Market Wrap

The Australian share market performed well in June, with the All Ordinaries index closing the month 2.7% higher at 6,289.70 points. The positive result came as the Government's legislation to cut personal income tax rates surprisingly passed through the Senate.

The Australian Dollar continued its recent trend, falling by 2.0% in the month, with 1 Australian dollar currently buying 74.07 US cents. Once again, the Reserve Bank of Australia (RBA) board kept the official Cash Rate on hold at 1.50% per annum in the month of June.

Global share markets returns were mixed in June, with the United States' Dow Jones index falling by 0.5%, the London FTSE falling by 0.5%, the Japan Nikkei 225 gaining by 0.5% and the Hong Kong Hang Seng index falling by 5.0% in the month (as United States / China trade restrictions emerged once again).

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