1h agoTue 29 Jul 2025 at 9:59pmMarket snapshotASX futures: -0.1% to 8,657 pointsASX 200 (Tuesday close):\u00a0+0.1% to 8,704 pointsAustralian dollar: -0.2% to 65.1 US centsWall Street: Dow Jones (-0.5%), S&P 500 (-0.3%), Nasdaq (-0.4%)Europe: FTSE (+0.6%), DAX (+1%), Stoxx 600 (+0.3%)\u00a0Spot gold: +0.4% to $US3,326\/ounce\u00a0Oil (Brent crude): +3.8% to $US72.69\/barrel\u00a0Iron ore: +3.1% to $US103.90\/tonne\u00a0Bitcoin: -0.5% to $US117,455<\/p>\n
Prices current around 7:45am AEST<\/p>\n
12m agoTue 29 Jul 2025 at 11:33pm<\/p>\n
Market recap: Alan Kohler’s finance report<\/p>\n
It’s possible you might need a refresher on where markets markets are at (before the trading day begins).<\/p>\n
If so, I can certainly recommend watching Alan Kohler’s finance report.<\/p>\n
Alan has some interesting graphs on job vacancies and some worrying trends in China’s economy (particularly in relation to births and marriages).<\/p>\n
Loading…25m agoTue 29 Jul 2025 at 11:21pmAussie dollar may be volatile if there are surprises in ABS inflation data<\/p>\n
The Australian dollar might experience some volatility today, depending on what the latest ABS inflation figures reveal.<\/p>\n
This morning, it fell slightly to 65.1 US cents.<\/p>\n
The local currency “will be sensitive to a stronger than expected” June quarter inflation result because “it would make an August [interest rate] cut less certain,” according to Commonwealth Bank FX strategist Kristina Clifton.<\/p>\n
Here’s a quick recap of what to expect:<\/p>\n
Markets are anticipating\u00a0headline inflation will be\u00a00.8% in the three months to June (taking the annual rate to 2.2%). This is the inflation metric that consumers care more about.However, the Reserve Bank pays more attention to trimmed mean inflation,\u00a0which strips out the most volatile price movements (as it’s a better measure of the long term trend).The RBA’s preferred measure of inflation is expected to come in at 0.7% for the June quarter (taking the yearly rate to 2.7%).<\/p>\n
RBA’s economics team’s prediction of the ‘trimmed mean’ result is largely in line with market expectations.<\/p>\n
Ms Clifton says that that “should be enough to support expectations” of a 0.25 percentage point rate cut by the RBA at its next meeting, in two weeks.<\/p>\n
(In case you’re wondering, the RBA’s cash rate target is currently 3.85%, its lowest level in two years)<\/p>\n
Meanwhile, NAB’s senior FX strategist Rodrigo Catril says his bank is expecting the cash rate to be slashed in August, November and February (down to 3.1%).<\/p>\n
His forecast for quarterly ‘trimmed mean’ inflation (0.7%) is in line with what markets are thinking.<\/p>\n
AMP’s chief economist Shane Oliver\u00a0said whether the RBA board decides to cuts rates on August 12 could be a fine line:<\/p>\n
“In terms of sensitivity, we would regard a 2.8% yoy [year on year] rise in trimmed mean inflation or less as consistent with an August rate cut as it will still be consistent with forecasts for inflation to head back to the mid-point of the RBA\u2019s target,” Mr Oliver wrote in a research note to clients.<\/p>\n
“But 2.9% yoy or more would mean a high risk that the RBA will remain on hold again.”<\/p>\n
50m agoTue 29 Jul 2025 at 10:55pmThe ATO traded people for programs and is still grappling with the consequences<\/p>\n
A decade ago, the Australian Tax Office (ATO) management faced a tough choice. Confronting government demands to cut costs, they made a simple trade-off: people for programs.<\/p>\n
The ATO would slash staff numbers and instead rely on automated systems and slick computer algorithms to process returns and pick up tax fraud.<\/p>\n
Between 2013 and 2019, the ATO shed close to 6000 people \u2014 almost a quarter of its staff. Some of the hardest hit were those sections that detect fraud and chase up debt.<\/p>\n
The cost of that decision is only now being revealed, in half a dozen scathing reports by the auditor-general, the inspector-general of taxation, the Australian Public Service Commission (APSC) and others, which provide a sweeping account of how the ATO is failing.<\/p>\n
For more, here’s the latest analysis by Neil Chenoweth:<\/p>\n
1h agoTue 29 Jul 2025 at 10:34pmBYD battles Tesla for dominance as Australian EV sales hit a new record<\/p>\n
Sales of electric cars sales in Australia hit a record high in June, but they’re still just over 10% of the overall new car market.<\/p>\n
Tesla still had the highest number of pure EV sales, but BYD sold more vehicles when hybrids were included.<\/p>\n
Australia’s new vehicle emissions standards (NVES), introduced this year, are expected to boost EV sales further.<\/p>\n
From this month, penalties will apply for car makers that don’t meet the new fleet-wide emissions targets.<\/p>\n
To avoid fines, manufacturers will need to balance the sales of high-emission models (ie. utes and 4WDs) by selling hybrids and EVs to reduce their overall fleet emissions.<\/p>\n
Industry observers say those rules act as a powerful incentive for car makers that continue to sell petrol vehicles to shift to EVs and hybrids, even at a loss.<\/p>\n
Here’s the latest story by Rhiana Whitson:<\/p>\n
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1h agoTue 29 Jul 2025 at 10:15pm<\/p>\n
Scott Farquhar to speak at National Press Club today \u2026 and on The Business<\/p>\n
![\"David](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/07\/lcimg-b66ce72d-29b3-4a93-9314-8dc821cb619d.jpeg\")
ASX futures: -0.1% to 8,657 pointsASX 200 (Tuesday close):\u00a0+0.1% to 8,704 pointsAustralian dollar: -0.2% to 65.1 US centsWall Street: Dow Jones (-0.5%), S&P 500 (-0.3%), Nasdaq (-0.4%)Europe: FTSE (+0.6%), DAX (+1%), Stoxx 600 (+0.3%)\u00a0Spot gold: +0.4% to $US3,326\/ounce\u00a0Oil (Brent crude): +3.8% to $US72.69\/barrel\u00a0Iron ore: +3.1% to $US103.90\/tonne\u00a0Bitcoin: -0.5% to $US117,455<\/p>\n![\"Michael](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/07\/lcimg-4b155f50-d1aa-4dad-99fe-239e1f9416e7.jpeg\")
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