Fed Rate Rise – The US Federal Reserve lifted rates a quarter of a percent on Thursday, beginning their move to keep inflation in check, and signalling another 6 rate rises this year alone. Forecasters are predicting US rates to rise to 1.9% by the end of 2022.
China Locked Down – A doubling in COVID cases in China, with more than 50 million people under lockdown has caused a sell-off in commodity and equity markets. Fears around supply chain disruptions have been raised at a time the global economy is already reeling from the Ukraine war.
Hydrogen Breakthrough – An Australian technology company, Hysata have had a major break through in development of an ultra-high efficient hydrolyser. It is understood that commercialisation of hydrogen energy will be possible once it can be produced at less than $2p/kg. Hysata believe they will achieve this comfortably by 2025.
ASX Recovers – The Australian share market has risen to its highest level since February 17 on Thursday. The 1.1% rise came off the back of a 25 basis point rate rise by the Fed, the first since 2018, and Australian unemployment hitting a 10 year low.
Dividend Payout – ASX listed companies are set to return over $36 billion to investors in the coming weeks as interim dividend payments. The large haul is helped by 88% of companies listed on the ASX 200 reporting a first-half profit.
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