Category: Weekly Wraps

For all weekly wrap posts

FINSOC Weekly Wraps Vol.08

 The ASX has seen a significant loss even after the rise in US interest rates. A total loss of 5.6% has been calculated for stock markets all around the world.
 The S&P/ASX200 closed sharply lower Friday, dropping 116.30 points or 1.76% to 6,474.80 and setting a new 100-day low.
 Since early November both BTC and ETH are down more than 70%, proving that it extends the losses of the macro environment rather than acting as a hedge against inflation
 ResMed is set to conduct its largest tech deal, as it purchased Germany’s MediFox Dan for $US1b.

FINSOC Weekly Wraps Vol.07

 Following Tuesday’s cash rate hike, the collective value of the Big 4: Commonwealth Bank, Westpac, NAB and ANZ, fell by almost 9% in 3 days (till 10 June).
 The ASX dropped 4.2% this week, ending Friday with a new 50-day low.
 The Treasury is currently considering plans to regulate crypto asset service providers, with proposals to designate cryptocurrency assets as financial products

FINSOC Weekly Wraps Vol.06

 The newly elected Labor government face numerous economic challenges amidst the increasing inflation rates, which range from property to stable fuel prices and decisions on whether to extend the fuel excise. 
 As a result of the inflation rate spike, workers have experienced an average loss of $800 in 2021, increasing to $2000 in the first half of 2022.
 Israel has signed an FTA with the UAE, establishing the first major trade accord with any Arab state, predicated to boost bilateral trade to more than $10 billion a year within five years.

FINSOC Weekly Wraps Vol.05

 Westpac was ordered to pay $113 million to the ASIC for charging fees to over 11,800 clients who have already passed away.
 Experts have predicted the Australian cash rate to surge above 3% by the end of 2023. It currently sits at 0.1%.
 On Wednesday 20th April, Netflix’s share price dropped by almost 30% when the company revealed that it had a net-loss of over 200,00 customers in the first quarter of 2022.
 The ASX 200 closed 0.7% down, due to significant falls of over 5% in the Materials and Information Technology sectors.

FINSOC Weekly Wraps Vol.04

On Wednesday (14th April), the Treasurer, Josh Frydenberg revealed that the unemployment rate had dropped below 4% to 3.95% in March.
On Sunday 10th April, Prime Minister Scott Morrison announced the date of the federal election to be 21st May.
The ASX 200 closed 0.6% higher, up 44.4 points to 7523.4 this week, helped by Australian blue chips.
Growing number of global and local superannuation/pension funds are looking into cryptocurrency investments, being viewed as an effective hedge against inflation.

FINSOC Weekly Wraps Vol.03

 On Tuesday, April 5, the RBA confirmed that interest rates will be maintained at a historically low rate of 0.1% despite concerns over living costs growing for Australians
 The ASX 200 dropped 0.2% (16 points) to 7478 this week, despite adding 35.2 points, or 0.5%, on Friday. 
 The Central Bank of Russia has rejected a proposal that would allow cryptocurrency for sanction evasions.
 Deep Yellow Limited has finalized a $658m merger deal, with Vimy Resources Limited

FINSOC Weekly Wraps Vol.02

2022—2023 Budget has been released on 29/03/22, with a net deficit of $AUD714.9 billion. 
The Budget forecasts economic growth of 3.5% and the unemployment rate to fall from 4% to 3.75%
Most sectors have improved within the ASX, ending 1.2% stronger with the 3rd week of consecutive increases.
Over the week, the largest cryptocurrency heists in history occurred on the Ronin blockchain network, with hackers stealing over $USD625million in Ethereum and USD Coin.

FINSOC Weekly Wraps Vol.01

• NSW Premier Dominic Perrottet announces $500 voucher scheme to help families with before-and-after school care.
• RBA’s first board meeting of 2022 drives decision to maintain cash rate target at 0.1%.
• Meta, formerly “Facebook” (ASX:FB) suffers largest ever loss in valuation on the stock market, with Founder and CEO Mark Zuckerberg’s net worth falling by USD$31bn.
• The New York Times Company acquires viral hit game “Wordle” for a price in the “low seven figures”.

FINSOC Weekly Wraps Vol.20

• NSW recorded 319 new cases of COVID-19 on Saturday. Scott Morrison has announced that those who have lost work due to restrictions will be able to claim a maximum of $750 per week from the COVID-19 Disaster Payment.
• US-based Fintech company Square, acquired BNPL giant Afterpay for A$39 billion.
• The ASX 200 saw a weekly gain close to 2%. Most sectors improved, led by the IT sector which boasted a 13.69% weekly gain.
• News Corp. purchases digital data provider Oil Price Information Service (OPIS) for US$1.15 billion.

FINSOC Weekly Wraps Vol.19

• NAB has announced a planned $2.5 billion share buy back estimated to increase the bank’s ROE by 40 basis points.
• Scott Morrison has set a national adult vaccination target rate greater than 70% as part of its 4 phase plan to address the pandemic.
• Bitcoin ended the week on a 10 day winning streak, its longest since 2013.
• Volkswagen is in talks to repurchase Europcar in a deal worth $US3B to expand services to car rentals.
• Robinhood’s IPO debuted at $US38 on the NASDAQ earlier this week.