FINSOC Weekly Wraps Vol.06

Jun 5, 2022 Weekly Wraps

 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.
 The momentum in the cryptocurrency market has been stagnant in the face of a market slump caused by the crash of Terra’s UST stablecoin and LUNA token.
 The ASX closed at 7238.8 this week, with a weekly gain of 0.8% led by gains in material and tech stocks. 
 NAB plans to bring in $2.75 billion via a bond deal, part of an earlier hybrid funding program.