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UBS Group AG is re-entering Australia's wealth management sector, focusing on high net worth women and family offices, following its acquisition of Credit Suisse. With over US$30 billion in managed assets, UBS aims to capitalize on the growing wealth market, particularly as female millionaires increase at nearly double the rate of men. The firm is enhancing its client services by integrating investment banking opportunities and fostering a diverse advisory team to meet the evolving demands of wealthy clients.
AUD/USD has bounced off support, recovering from a November low of $0.6435 and targeting a high of $0.6549, with further resistance at $0.6571. Meanwhile, EUR/JPY remains above ¥159.91, aiming for the 55-day SMA at ¥162.31, while USD/JPY continues to range trade below ¥157.70, supported by last week's low at ¥153.29.
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Traders experienced a sense of déjà vu as Donald Trump's latest tariff threats triggered a surge in the dollar, prompting a flurry of activity in the markets. Nick Twidale, a seasoned currency trader, noted the potential for profit over the next four years, having already capitalized on short positions against the Mexican peso and Australian dollar.
Findi has acquired Tata Communications Payment Solutions, adding 4,600 ATMs and significantly expanding its digital payment network. This strategic move is expected to enhance Findi's revenue and EBITDA, leading to an upgraded valuation of A$9.68 per share, reflecting strong growth potential in FY 2026. The upcoming H1 FY 2025 results will provide further insights into the impact of this acquisition on Findi's financial performance.
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Meta, TikTok, and Google have criticized Australia's proposed legislation that would ban children under 16 from accessing social media platforms, even with parental consent. The law would hold these companies accountable for enforcing the ban, with fines reaching up to A$50 million ($32.5 million) for non-compliance.
Australia's CPI and China's PMI are in focus as the AUD/USD gains support amid a softer US dollar. The US Dollar Index may face a corrective move lower, while Brent crude stabilizes amid geopolitical tensions. The ASX 200 is testing upper channel resistance, and the Russell 2000 is retesting multi-year highs, supported by favorable seasonality for small-caps.
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UBS is re-entering the wealth management sector in Australia, focusing on the increasing number of affluent women and family offices, as part of its Asia-Pacific expansion strategy. Meanwhile, Australia faces a significant shakeup in the gas-guzzler market with the introduction of new hybrid models, and the budget deficit is projected to exceed previous forecasts, reaching A$33.5 billion by mid-2025. Additionally, New Zealand's central bank is expected to cut interest rates again, reflecting aggressive monetary policy shifts in the region.
UBS Group AG is re-entering the Australian wealth management market, targeting the growing number of wealthy women and family offices. Following its acquisition of Credit Suisse, UBS aims to expand its high net worth assets, currently over $30 billion, amidst increasing competition from firms like Morgan Stanley. The firm has noted a significant rise in female millionaires and a fivefold increase in requests from the not-for-profit sector, highlighting a shift in investment strategies towards private equity and sustainable assets.
Peabody Energy Corp., the largest coal miner in the U.S., is shifting its focus to the global steel market by acquiring four Australian mines from Anglo American Plc for up to $3.78 billion. This deal will nearly triple Peabody's metallurgical coal output within two years, positioning the company as the world's third-largest exporter.
AUD/USD rose to 0.6525, buoyed by stabilizing commodity prices and the appointment of Scott Bessent as US Treasury secretary by President-elect Trump. The US dollar weakened against several currencies, while upcoming economic events include the October CPI release and a speech by RBA Governor Michelle Bullock. Recent Australian inflation data showed a slight decline, with expectations for the October CPI to rise by 2.3% YoY, amid ongoing government cost-of-living rebates.
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