July 2019 - Bongiorno Financial update

What's in this issue?

• The ECB and the Fed now clearly look to be heading towards monetary easing, probably from July.

• We expect two rate cuts this year from the Fed.

• The shift back towards monetary easing by global central banks against a backdrop of low inflation adds to confidence that global growth will pick up again over the next six months or so and this will all support share markets on a six to 12-month horizon.

• We still see the RBA easing more than the Fed given the weaker state of the Australian economy and so, on balance, continue to see the $A falling to around $US0.65 by year end.

We hope you enjoy this issue.

Kind regards,

ANTOINETTE BONGIORNO 
LL.B. B.Com. CFP DipFP A.S.A. Cert IV. FMB.

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