– President Trump’s promises of corporate tax cuts and higher infrastructure spending continues to be supportive of US shares. However, financial markets are keenly awaiting the specific detail of President Trump’s policy agenda. Given positive business surveys and solid jobs growth, the US Federal Reserve is expected to continue raising interest rates in 2017.

– The build up to the French Presidential election on May 7 caused some volatility, (with the more conservative Emmanuel Macron since winning, which was seen as a favourable outcome by the market), whilst the British general election announcement for 8 June will also be watched closely. Syria became prominent given a US missile attack in response to Syria’s use of chemical weapons. North Korea’s nuclear ambitions were also a concern for financial markets in April.

– In Australia, our economic activity remains modest and mixed. Retail spending has been subdued with sedate results for consumer sentiment. Australia’s unemployment rate remains stable at 5.9%, even with a strong rebound in jobs growth in March. The National Australia Bank business survey also indicates solid responses for confidence and conditions.

– Global shares made solid gains of 1.3% in local currency terms. European shares made strong gains in April. The first round of the French Presidential election saw the centrist candidate Emmanuel Macron achieve the majority vote. Encouraging economic activity data and positive business surveys also favoured European shares.

– US shares made solid gains in April given encouraging corporate earnings reports. President Trump’s bold promises of tax cuts and higher infrastructure spending have also maintained optimism despite the lack of policy detail.

– Chinese shares fell in April with signs that financial conditions were progressively being tightened in order to restrain exuberant credit growth.

– Australian shares delivered a solid 1.0% return for April. There were strong sector performances from Industrials (4.4%), Utilities (3.1%), Health Care (3.2%) and Financials (1.9%). However, lower prices for iron ore and energy weighed on Resources.

– Global bond yields moved lower in April given falling energy prices and moderate US economic data.

– Australian government bond yields fell in April given the mixed economic data. Australia’s annual inflation rate edged higher to 2.1% in the March quarter, but the Reserve Bank of Australia again decided to keep the cash rate steady at 1.5%.

– The Australian dollar (AUD) fell in April. Lower commodity prices (particularly iron ore and energy) served to soften the AUD.

Altitude Financial Planning is a Corporate Authorised Representative of Altitude Financial Advisers Pty Ltd
ABN 95 617 419 959
AFSL 496178

The information contained on this website is general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek the appropriate financial advice and read the relevant Product Disclosure Document.

Altitude Financial Planning is a Corporate Authorised Representative of Securitor Financial Group Ltd
ABN 48 009 189 495
AFSL 240687

The information contained on this website is general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek the appropriate financial advice and read the relevant Product