Market Update November 2012
Global economies returned mixed results last month, with China posting positive export results while the Eurozone continued to slow. Over in the US, housing activity was on the increase, along with retail spending.
In Europe, Spain continues to concern the wider Eurozone, as September retail sales results were 10.9% down on this time last year.
In domestic news, the official interest rate remained unmoved at 3.25%. The RBA cited the improving data on the global economy and China’s stabilising economy as the main reasons for no further cuts.
As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.