liveMarkets live updates: Australian dollar higher after inflation figures announced, US sees record trade deficit ahead of tariffsBy business editor Michael Janda and business reporter Stephanie ChalmersTopic:Stock Market4h ago4 hours agoTue 29 Apr 2025 at 9:28pmSkip to timelineabc.net.au/news/asx-markets-business-news-live-updates/105232100Link copiedShareShare articleThe Australian dollar is enjoying a bounce in the initial aftermath of the inflation figures.Headline inflation has remained steady, but the Reserve Bank's preferred measure of consumer prices has fallen within the RBA's target band for the first time in more than three years.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.Key EventsLowest services inflation since June 202221m ago21 minutes agoWed 30 Apr 2025 at 1:55amElectricity, education and food costs drive inflation29m ago29 minutes agoWed 30 Apr 2025 at 1:47amAussie dollar higher after inflation read36m ago36 minutes agoWed 30 Apr 2025 at 1:41amShow all key eventsSubmit a comment or question Log in to commentLive updatesLatestOldestPinned9m agoWed 30 Apr 2025 at 2:08amMarket snapshotSBy Stephanie ChalmersASX 200: +0.2% to 8,088 points (live values below)Australian dollar: +0.2% to 63.97 US centsS&P 500: +0.6% to 5,561 pointsNasdaq: +0.6% to 17,461 pointsFTSE: +0.6% to 8,463 pointsEuroStoxx: +0.4% to 525 pointsSpot gold: -0.2% to $US3,308/ounceBrent crude: -0.1% to $US64.20/barrelIron ore: -0.1% to $US99.80/tonneBitcoin: -0.3% to $US94,579Prices current around 12:05pm AEST.Live updates on the major ASX indices:Copy link6m agoWed 30 Apr 2025 at 2:11amWhy is annual headline inflation steady when price rises jumped in the March quarter?MBy Michael JandaSome of you may have this question lurking in your minds after reading the headlines on the Consumer Price Index, just out from the Australian Bureau of Statistics.The quarterly headline data show prices rose 0.9% in the first three months of this year, compared to a 0.2% rise in the final three months last year.But the annual data showed inflation remained steady at 2.4%, which is below the mid-point of the Reserve Bank's target band.So, why did quarterly prices jump but annual prices remain steady?Well the March quarter 2025 number of 0.9% was replacing a slightly higher March quarter 2024 number of 1%, which is why the annual price change remained stable (rounded to one decimal place).So why did prices jump so much in March?Well, they often do because many annual price increases kick in then, such as school and university fees.The same generally applies to the September quarter, when prices linked to the financial, rather than calendar, year usually impose their annual increases.The headline CPI is not seasonally adjusted, unlike many other ABS figures, so it doesn't account for these regular price bumps.That said, the seasonally adjusted number produced by the ABS also rose 0.9% and 2.4%, so it seems traditional start of year price rises and cuts broadly cancelled each other out anyway.Copy link11m agoWed 30 Apr 2025 at 2:06amHow consumer prices have been tracking in AustraliaSBy Stephanie ChalmersIf you're a visual person, here' how Australia's consumer prices have been tracking over the last decade, thanks to my colleague Gareth Hutchens:(ABS)As you can see, the shaded area is the Reserve Bank's target band of 2-3 per cent for annual inflation.Its preferred measure of underlying inflation, the trimmed mean, is now just back within the band at 2.9 per cent, for the first time in more than three years.Copy link16m agoWed 30 Apr 2025 at 2:01amTrumpet of Patriots pushing 3 per cent home loan line in text messagesMBy Michael JandaThe ABC has seen some of the mass text messages sent by Clive Palmer's Trumpet of Patriots party, which promise 3% home loan interest rates.This is a policy recycled from Clive Palmer's United Australia Party's 2022 election campaign.Back then, I wrote this explainer on the very substantial financial and economic challenges of implementing such a policy. It still applies now.Clive Palmer's party is proposing a mortgage cap that would take Australia's banking system back to the 1970sCopy linkKey Event21m agoWed 30 Apr 2025 at 1:55amLowest services inflation since June 2022SBy Stephanie ChalmersOne element of inflation that has been closely monitored by economists has been services inflation, which has been particularly "sticky" or persistent in comparison to goods prices.In the March quarter, annual goods inflation was 1.3 per cent, primarily due to electricity prices, which rebounded after falling in the previous two quarters.On the other hand, annual services inflation was 3.7 per cent in the March quarter, down from 4.3 per cent in the December quarter."This is the lowest annual outcome for services inflation since the June 2022 quarter, reflecting easing inflation across a broad range of services, including rents and insurance," ABS acting head of prices statistics Leigh Merrington said.Copy linkKey Event29m agoWed 30 Apr 2025 at 1:47amElectricity, education and food costs drive inflationSBy Stephanie ChalmersBringing you across some more detail from the latest inflation data — the ABS says the main contributors to the quarterly consumer price index rise of 0.9 per cent were housing (+1.7 per cent), education (+5.2 per cent) and food and non-alcoholic beverages (+1.2 per cent).The waning impact of government energy bill relief affected electricity costs."The quarterly growth in housing was driven by electricity (+16.3 per cent)," the ABS noted."The rise was driven by increases in electricity prices in Brisbane where most households have used up the $1,000 Queensland State Government electricity rebate resulting in higher out of pocket electricity costs."Some households in the remaining states and territories also saw rises in electricity bills this quarter."This comes as the impact from the Commonwealth Energy Bill Relief Fund (EBRF) rebates was lower in the March quarter compared to the December quarter due to the timing of rebate payments."Copy linkKey Event36m agoWed 30 Apr 2025 at 1:41amAussie dollar higher after inflation readSBy Stephanie ChalmersThe Australian dollar is enjoying a bounce in the initial aftermath of the inflation figures, which came in very slightly higher that expected.The Australian dollar is up 0.3 per cent against the greenback, buying 64 US cents, compared to around 63.8 US cents in the minutes before the release.Copy linkKey Event40m agoWed 30 Apr 2025 at 1:37amTrimmed mean back in RBA target bandMBy Michael JandaHeadline inflation has remained steady, but the Reserve Bank's preferred measure of consumer prices has fallen within the RBA's target band for the first time in more than three years.The Australian Bureau of Statistics March quarter data show headline inflation remained steady at an annual rate of 2.4 per cent, while the RBA's preferred measure of trimmed mean inflation dropped from 3.3 per cent to 2.9 per cent — within the Reserve Bank's 2-3 per cent target range.Economists surveyed by Reuters generally expected headline inflation to ease to 2.3 per cent for the 12 months to March, with the trimmed mean figure falling to 2.8 per cent.Copy linkKey Event44m agoWed 30 Apr 2025 at 1:32amInflation at 2.4pc in first quarterSBy Stephanie ChalmersThe Consumer Price Index rose 0.9 per cent in the March 2025 quarter and 2.4 per cent annually, according to the Australian Bureau of Statistics — coming in very slightly ahead of economists' expectations.The annual inflation rate of 2.4 per cent was unchanged from the December quarter.Copy linkKey Event55m agoWed 30 Apr 2025 at 1:21amStar Entertainment widens its quarterly lossSBy Stephanie ChalmersCasino operator Star has revealed a widening loss in the third quarter of $21 million.That's before significant items, which it says will be revealed in its full year results later this year."The results for the period reflect a seasonal softening in revenues, reduced levels of gaming visitation and the one-off impact of adverse weather events driving property closures in Queensland in March," Star Entertainment noted in an ASX release.The company, once again, restated that there is "material uncertainty" about its ability to continue as a going concern, despite its recent rescue funding deal with Bally's and others.Star had available cash of $44 million at the end of march.Shares are up 2.4 per cent this morning.Read more details of the company's half-year results and turnaround efforts here:Star posts $300m loss as it attempts turnaroundCopy linkKey Event1h agoWed 30 Apr 2025 at 12:54amInflation expected to keep easingMBy Michael JandaNo word on CPI, which is to be released today. what are the expectations there.
- AshishHi Ashish.Sorry for not posting on this earlier, but it isn't expected to be a shock or market-moving figure.The latest Reuters economist poll centres on the ABS Consumer Price Index rising by 0.8% in the quarter (a rise from 0.2% in the December quarter), but the annual headline figure falling from 2.4 to 2.3%.That's because headline CPI is not seasonally adjusted and there are quite a few annual price increases that take place in the first quarter of the year.The trimmed mean figure, closely watched by the Reserve Bank, is expected to ease from 3.2 to 2.8% on an annual basis.If the forecasts are accurate, that would take it within the RBA's 2-3% target band and give the central bank licence to cut rates next month.Markets are currently pricing in the certainty of a 0.25 percentage point rate cut on May 20, with a slim outside chance of a larger 0.35 or 0.5 percentage point reduction.We'll know for sure in just over half an hour when the Australian Bureau of Statistics releases the data at 11:30am AEST.Copy link1h agoWed 30 Apr 2025 at 12:45amUS tariff talk still driving marketsMBy Michael JandaThe wild market swings may have eased off (for now) but it's clear that tariff talk coming out of the administration is still the key driver for most traders.This from NAB's senior market economist Taylor Nugent."Equities got a boost in the US afternoon after U.S. Commerce Secretary Howard Lutnick said in a CNBC interview that he has reached a trade deal with an unnamed country."I have a deal done, done, done, done. But I need to wait for their Prime Minister and their parliament to give its approval, which I expect shortly." Earlier in the day, Treasury Secretary Scott Bessent said the US is making progress on trade agreements with India, South Korea and Japan."While that positive news stole focus, it is worth noting that a PBS journalist posted on X that United States Trade Representative Jamieson Greer told Republican senators that countries are coming to the table in tariff talks, but Europe is not engaging as well. China's Foreign Ministry released a social media video, titled Never Kneel Down! that included the message "bowing to a bully is like drinking poison to quench thirst.""Doesn't sound like the key trade negotiations are going that well.And then you have Mr Trump telling Time last week that the trade deals are essentially going to be whatever tariff levels he thinks are fair for each country.I'm glad I'm not trying to trade on the various mixed messages coming out from the White House!Copy link1h agoWed 30 Apr 2025 at 12:37amSweet inflation problem leaves a bitter tasteMBy Michael JandaAs Frank Lloyd Wright said, Give me the luxuries of life and I will gladly do without the necessities. Further inflation on chocolate is a nightmare! - Plain JaneTell me about it Jane.My favourite dark chocolate from a certain well-known Swiss manufacturer has close to doubled in price over the past year or so, especially since it doesn't go on special as often as it used to.As much as I love it, $8.50 full-price is simply too much to bear for a 100 gram block of chocolate.Then, as Peter pointed out earlier, you read the Anglicare report and it reminds you that having to cut back a bit on chocolate is a very privileged problem to have.Copy link1h agoWed 30 Apr 2025 at 12:31amMarket snapshotMBy Michael JandaASX 200: +0.3% to 8,094 pointsAustralian dollar: +0.1% to 63.86 US centsS&P 500: +0.6% to 5,561 pointsNasdaq: +0.6% to 17,461 pointsFTSE: +0.6% to 8,463 pointsEuroStoxx: +0.4% to 525 pointsSpot gold: +0.1% to $US3,318/ounceBrent crude: -0.2% to $US64.13/barrelIron ore: -0.1% to $US99.80/tonneBitcoin: -0.5% to $US94,421Live updates on the major ASX indices:Copy link1h agoWed 30 Apr 2025 at 12:25amSobering reality checkMBy Michael JandaI feel like hanging my head in shame in relation the Anglicare report. One of the richest nations in the world and our vulnerable struggle to find affordable shelter. Anglicare cared tirelessly for my Mum and do brilliant work. Politicians should take note of their commentary.- PeterFor those of us in middle and upper-middle income jobs, the Anglicare report really does provide a timely reality check on what the "cost of living crisis" actually means for Australia's low income earners and those reliant on government payments to survive.Copy linkKey Event1h agoWed 30 Apr 2025 at 12:17amASX opens modestly higher, Westpac shrugs off hedging lossesMBy Michael JandaAs flagged in futures trading, the benchmark ASX 200 index has opened up about 0.3% at 8,098 points.Retailers, real estate, healthcare and financials have led the early gains, while mining was fairly flat and energy was down on falling commodities prices.Traders appear unperturbed by Westpac's hedging losses of about $140 million, with its share price up 0.5% to $32.82, broadly in line with the other big banks.Investors also seem nonplussed about the latest Coles sales figures, with its gain of 0.7% to $21.53 roughly in line with major rival Woolworths.Smaller miners dominated both many of the biggest gains and largest losses in early trade.Top 10 and bottom 10 movers on ASX 200 index around 10:17am AEST (LSEG)Copy linkKey Event2h agoTue 29 Apr 2025 at 11:54pmAlmost no private rental properties affordable for welfare recipientsMBy Michael JandaEvery year for the past 16, Anglicare has released a report reviewing advertised rentals to see how many are affordable for Australia's lowest income households.The reading remains stark.Nationally, less than 13% of advertised rentals suitable for a family of four led by a couple both on the minimum wage would be affordable (defined as rent being less than 30% of their income).A single parent on the minimum wage would find only 2.6% of properties as affordable.That drops to just 0.3% for age pensioners, 0.1% for disability pensioners, and 0% for singles on JobSeeker (with just 3 out of 51,238 properties advertised in mid-March affordable for this group).The situation was marginally less bad in Tasmania, Victoria and South Australia, but generally even worse for low-income people in the ACT, NSW and the NT, with Queensland and WA sitting somewhere in between.Anglicare says an increase in available rental properties challenges the narrative that more housing supply alone will solve Australia's affordability challenges for low income groups."This year, rental listings across the country rose to just over 51,000, up from around 45,000 the same time last year. Despite an increase in rental listings of over 13 per cent, affordability has stagnated or declined across almost every household type," the report notes."If a simple increase in the supply of housing really added more affordable housing, then we would have expected to see an increase in affordability."While supply is important, it is not the silver bullet for the housing crisis. Australia's private rental system is not designed to provide affordable homes to renters, especially those on low incomes."Anglicare is calling for more investment in public and social housing, as well as changes to "tax settings that favour landlords".Copy link2h agoTue 29 Apr 2025 at 11:34pmWestpac flags profit hit ahead of earnings next weekSBy Stephanie ChalmersWestpac says its half-year net profit will take a $140 million hit in relation to "hedging items", which it says will reverse over time.Hedging is when companies use financial instruments to try and offset risks — the bank has flagged losses on its economic hedges and "hedge ineffectiveness".Here's when you can expect the bank results next week:Westpac half-year results — Monday May 5NAB half-year results — Wednesday May 7ANZ half-year results — Thursday May 8CBA Q3 trading update — Wednesday May 14Copy linkKey Event3h agoTue 29 Apr 2025 at 11:04pmColes' revenue rises as shoppers look for promosSBy Stephanie ChalmersSupermarket giant Coles has posted a 3.4 per cent increase in revenue in the third quarter of the financial year.Supermarket sales led the rise, while liquor sales revenue also lifted.Coles chief executive Leah Weckert described it as "another solid quarter of sales growth"."Customers remained value conscious throughout the period with solid volume growth supported by our value offering, including Summer value campaign and ongoing promotional activity," the company said in an ASX statement.Prices rose 1.5 per cent across the supermarket, while excluding tobacco, supermarket inflation was 1.1 per cent.The company offered some more detail on where prices are rising a falling:"Inflation in the fresh category was driven by meat and fresh produce," Coles said."Continued increases in livestock costs impact inflation in meat, particularly across the lamb, pork and poultry categories."Whilst fresh produce inflation was elevated due to the impacts of Cyclone Alfred and the cycling of abundant supply in some categories, such as avocados…"Inflation excluding tobacco and fresh moved into deflation at -0.3%, with deflation in the health and home category offsetting continued inflation across categories impacted by higher coffee and cocoa prices, such as confectionary, boxed chocolates and coffee."The Australian Bureau of Statistics will release its quarterly Consumer Price Index later this morning, so we'll have a better idea of how prices are moving across the economy in a few hours time.Copy link3h agoTue 29 Apr 2025 at 11:01pmInsurance payout pain as more builders go bustSBy Stephanie ChalmersCalls are growing for national minimum standards on builder's and home warranty insurance, as more builders collapse.The compulsory insurance — which varies from state to state — is contained in building contracts and designed to protect homeowners who are left with defects or unfinished works when a builder goes under.Loading...However, as Perth man Amarjit Singh Pabla discovered, the process is neither quick or seamless, after he was left with eight unsellable units and is still fighting with insurer QBE three years later.Read his story, and the broader pitfalls consumers face, from business reporter Nassim Khadem:Builder's collapse leaves years-long fight with insurer in its wakeCopy linkShow more postsPosted 4h ago4 hours agoTue 29 Apr 2025 at 9:28pm, updated 22m ago22 minutes agoWed 30 Apr 2025 at 1:55amShare optionsCopy linkFacebookX (formerly Twitter)TimelineRead nextCommentsTimelineKey EventsLatestMarket snapshotAnalysisEconomyRBAEnergyQueenslandMarketsCompany newsStar EntertainmentCommoditiesSupermarketsLowest services inflation since June 202221m ago21 minutes agoWed 30 Apr 2025 at 1:55amElectricity, education and food costs drive inflation29m ago29 minutes agoWed 30 Apr 2025 at 1:47amAussie dollar higher after inflation read36m ago36 minutes agoWed 30 Apr 2025 at 1:41amTrimmed mean back in RBA target band40m ago40 minutes agoWed 30 Apr 2025 at 1:37amInflation at 2.4pc in first quarter44m ago44 minutes agoWed 30 Apr 2025 at 1:32amStar Entertainment widens its quarterly loss55m ago55 minutes agoWed 30 Apr 2025 at 1:21amInflation expected to keep easing1h ago1 hours agoWed 30 Apr 2025 at 12:54amASX opens modestly higher, Westpac shrugs off hedging losses1h ago1 hours agoWed 30 Apr 2025 at 12:17amAlmost no private rental properties affordable for welfare recipients2h ago2 hours agoTue 29 Apr 2025 at 11:54pmColes' revenue rises as shoppers look for promos3h ago3 hours agoTue 29 Apr 2025 at 11:04pmTrump signs executive order to soften auto tariffs3h ago3 hours agoTue 29 Apr 2025 at 10:34pmUS posts record trade deficit ahead of Liberation Day4h ago4 hours agoTue 29 Apr 2025 at 9:31pmMarkets set for further steady gains5h ago5 hours agoTue 29 Apr 2025 at 9:15pmTop StoriesBreaking: Headline inflation stable at 2.4pc while RBA's preferred measure drops within targetTopic:InflationPhoto shows Cash money in a purse with a calculator, 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