As expected, interest rates were left on hold this week.
Support for another cut is drying up at present with the figures just not supporting the case.
The housing market cooled off a little.
I expect that retails will pick up during the Christmas period.
I expect interest rates will be left on hold and reviewed next year. My call is the next rate change will be an increase in interest rates.
BHP got hit hard towards the end of the week due to a broken dam at one of their Brazil mines; the mudslide destroyed homes, and there are 45 people missing at present.
Our market continues to stay in a holding pattern for now with the market dropping less than 1% for the week.
The majority of the fall came about in the top 20 companies as investors look to reduce exposure to these sectors.
The bulk of the market remained positive for the week, which indicates to us that this fall does not have a lot of support.
We will watch out of figures coming out of America next week that will provide a better idea of how the world economy is recovering.