Local markets are benefiting from the commodity price boom, triggered by the crisis in Ukraine and now are on a high with IndAus trade agreement.

Federal Budget: Due to the looming election this year we can expect some big spending and less scrimping and saving than we might usually see.

With economists expecting some sort of assistance arriving to help with the rising cost of living, it would be unusual if some indications and/or leaks does not start to appear this week.

Reserve Bank Governor Dr Phillip Lowe warned investors to prepare for rate hikes in response to inflationary risks. 

Australia will also keep a lookout on February’s job advertisement data, consumer sentiment, household spending intentions.

Australia had its own mini version of Facebook last week with building products group Boral falling 41% to hit a 17-month low.

Most analysts believe that there is going to be a lot of scary ups and downs from here and any recovery day like Friday could be just that, a short-term relief

However, Gold gained for a second consecutive week as rising inflation and geopolitical risks lifted its safe-haven appeal.

With interest rates hikes expected soon we expect many sectors to continue to struggle in the near future, with more pains for holders of Buy Now Pay Later stocks.

There is a concern that national spending in Australia has declined to lockdown levels with people in Sydney and Melbourne dragging the national spending as surging coronavirus cases keep them from going out.