Business confidence “UP” – Consumer confidence “DOWN”

Great to see Business confidence up this week however after 3 rate hikes in a row it should come as no surprise that Consumer confidence has taken a huge hit over the last few months.. 

Data just released today shows our Australian Unemployment rate actually falling down from 5.8% to 5.7%…. 

More importantly we created “31,200 NEW JOBS IN NOVEMBER”…. 

With all of this week’s Aussie news, all the recent Dubai financial collapse which is effecting Portugal, Italy, Greece and Spain, all of them receiving serious credit rating downgrades Global markets remain in a strong consolidation phase.. 

Why do I feel that the Copenhagen Climate change meeting has something to do with things, there is certainly a lot of companies anxiously waiting for what they implement from this meeting.. 

Climate change will become a critical player in our Global recovery, if implementing serious changes too fast we could see even more of a slowdown.. 

Our support lines are still holding as we are bouncing off 4,600 today and a new wave upwards could now be on its way, eurozone debt levels are about the only thing that can spoil our Christmas party. 

Wow 2 weeks till Christmas…………… 

I always prefer to hold tight during light Christmas volume, strong direction will come back in early January.. 

Talk soon.

Expecting success

James McMurtrie

Meridian Financial Pty Ltd

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