Plain-English definitions of the market and money terms we use in the daily brief — no jargon, no fluff. Want the deeper how-and-why? Read Learn the fundamentals.
Australian Real Estate Investment Trust — a listed way to own property (offices, malls, warehouses).
Australia's banking regulator; its lending rules are a major lever on house prices.
Index of the 200 largest companies on the Australian Securities Exchange.
The Aussie dollar against the Japanese yen — a sensitive gauge of global risk appetite and the carry trade.
Hundredths of a percent. 25 basis points = 0.25%.
The global benchmark crude oil price.
Bitcoin — the largest cryptocurrency; trades 24/7 so it acts as a risk-appetite 'canary'.
Borrowing in a low-rate currency (often the yen) to invest in higher-yielding assets. Unwinds can trigger sharp sell-offs.
The interest rate the RBA sets; the anchor for Australian mortgage and savings rates.
Consumer Price Index — the main measure of inflation.
Bitcoin's share of the total crypto market value.
US Dollar Index — the USD's value against a basket of major currencies.
The US Federal Reserve's rate-setting committee.
Australia's biggest export, used to make steel. Its price (driven by Chinese demand) heavily affects the AUD and miners.
The headline US monthly jobs number (excluding farm workers). A big market mover because it shapes Fed rate expectations.
Overnight Index Swap — a market-implied measure of where traders expect the cash rate to be. Used to read what's 'priced in'.
People's Bank of China — China's central bank; its daily currency 'fix' and policy moves ripple into AU commodities.
The US Fed's preferred inflation measure (Personal Consumption Expenditures).
Reserve Bank of Australia — sets the cash rate and runs monetary policy.
A defensive mood where investors sell risky assets and seek safety (bonds, USD, gold).
A market mood where investors buy riskier assets (shares, AUD, crypto) expecting gains.
Index of 500 large US companies — the main barometer of Wall Street.
ASX 200 futures traded overnight; the best pre-open guide to how the AU market will open.
The gap between two interest rates or prices — e.g. bank funding spreads add to mortgage costs above the cash rate.
A 'core' inflation measure that strips out the most extreme price moves; the RBA's preferred gauge.
The 'fear gauge' — expected US share-market volatility over the next 30 days. Higher = more nervous markets.
West Texas Intermediate — the US benchmark crude oil price.
The line plotting government bond interest rates across maturities. Its shape signals growth and rate expectations.