Shop Online and Overseas for Less with Orange Everyday On 10 November, ING announced along with having free ATM access throughout Australia, eligible customers now also have access to free ATMs around the world, with international ATM fees rebated within 5 days. Eligible customers can also shop online and overseas and pay no ING international transaction fees. To be eligible for these new benefits, ING customers need to deposit at least $1,000 from an external bank account to any personal ING account in their name (excluding Living Super and Orange One) in the previous month. And from March 2018, customers will also need to make five+ card purchases (this excludes ATM withdrawals, balance enquiries, cash advances, EFTPOS cashout only transactions) in the previous month to be eligible. ING Economic Update Australia The labour market continued its strong positive momentum in October with total employment rising by 3.7k and the unemployment rate falling -10bp to 5.4%. The Reserve Bank of Australia ("RBA") left the cash rate unchanged at it's November meeting. This was widely expected in the market given the low recent prints of both the CPI (1.8%) and retail sales (0.1% real growth). In recent speeches the RBA has indicated that although employment data remains solid, there is significant further capacity still to be absorbed. Against this background the RBA will continue to leave the cash rate unchanged at 1.5%. Activity in the housing market has started to moderate with price pressures starting to ease. The AUD appears to have moved into a lower trading range of between 75/78 US cents, it could move lower in the proposed US tax changes gain momentum. Global developments The ongoing strengthening of the global economy has begun to transpire into higher interest rates.
The Bank of England recently announced the first increase in their base rate in 10 years, a further increase in the US Federal Funds rate is expected in December. The European Central Bank ("ECB") has started to withdrawn their liquidity stimulus program. A key driver in these policy moves has been the ongoing steady improvement in employment markets across major economies. Global equity markets are higher by around 20% year to date as investors position for global growth to expand to approximately 3.5% in 2018. The Trump administration has released their much awaited tax plans, which will reduce and simplify the US tax code. Importantly, these measures could open the way for the return to the US of company profits held offshore. This could potentially lead to a fundamental change in currency markets, whereby the USD could commence a multi-year strengthening trend. This could result in a lower AUD, boosting Australia's competitiveness. Market snapshot Rates Australia 3/11/2017 17/11/2017 Change RBA Cash Rate 1.50% 1.50% 0.00% 1 Month BBSW 1.61% 1.63% 0.02% 3 Month BBSW 1.70% 1.72% 0.02% 6 Month BBSW 1.88% 1.89% 0.01% 1 Year Swap 1.78% 1.77% -0.01% 3 Year Bond Futures 1.99% 1.97% -0.02% 10 Year Bond Futures 2.65% 2.61% -0.04% U.S. 3/11/2017 17/11/2017 Change 2 Year Bond Futures 1.61% 1.71% 0.10% 10 Year Bond Futures 2.35% 2.35% 0.00% Equities S&P 500 2,580 2,589 9 ASX 200 5,932 5,944 12 FX AUD/USD 0.7722 0.759 -$ 0.0132 AUD/NZD 1.1166 1.1071 -$ 0.0095 AUD/EUR 0.6621 0.6451 -$ 0.0170
AUD/GBP 0.5911 0.5757 -$ 0.0154 Commodities Gold $1,277.00 $1,278.39 $1.39 Oil $54.65 $55.09 $0.44 Iron ore $59.79 $61.57 $1.78 Did you know? The top, short-term travel destination for Australians over the last year has been New Zealand, followed by Indonesia and the United States. A recent study showed findings that 1 in every 3 Australians has travelled internationally within the last twelve months. The total amount spent on travel in 2014 was $39 billion. As global travel becomes more popular, so does international spending. Over the last three years, average international spending by an ING customer has grown by 17%. To find out more information relating to international spending and markets, contact your ING representative today. Need more information? Contact ING Middle Market on 1800 209 744 or email middlemarket@ing.com.au To learn more Visit adviser.ing.com.au Call 1300 656 226. For the curious: The information contained in this update is current as at the date of this email and is subject to change. You received this email as you provided ING with your email address. However, if you do not wish to receive further email communications from ING please send an email to middlemarket@ing.com.au with "Unsubscribe" in the subject line or call 1800 209 744. Global ATM Rebate Offer for Orange Everyday Customers The Global ATM Rebate Offer will apply for the next calendar month when you perform the following during the current calendar month: deposit at least $1,000 from an external bank account to any personal ING account in your name (excluding Living Super and Orange One), and (effective from 1 March 2018) also make at least 5 card purchases using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions). Card purchases includes in store credit or EFTPOS purchases, online purchases, regular card payments,
paywave, Apple Pay, and Android Pay transactions made with an Orange Everyday Visa card, Orange One or Orange One Platinum Visa card or Nil Interest Visa card provided with an eligible ING home loan. Card purchases made in store or online this current calendar month which settle next calendar month do not count towards the 5 card purchases needed this current calendar month. When determining if you are eligible under the offer, we also take into account the behaviour of any of your joint account holders or additional cardholders. If eligible, under the offer: for ATMs in Australia - any ATM fee charged by the ATM operator is rebated immediately following the transaction, and for ATMs outside Australia - ING will waive the International ATM withdrawal fee of $2.50 and rebate any ATM fee charged by the ATM operator at settlement of the transaction. While the transaction is pending the amount of the acquirer fee will be deducted from your available balance and will be reinstated after the transaction is finalised. ATM transactions outside Australia can take up to 5 days to finalise. If eligible, the offer applies to all accounts held in your name (either single or joint account). This offer may be changed or withdrawn at any time at ING's sole discretion. International Transaction Fee Waiver Offer for Orange Everyday Customers The International Transaction Fee Waiver Offer will apply for the next calendar month when you perform the following during the current calendar month: deposit at least $1,000 from an external bank account to any personal ING account in your name (excluding Living Super and Orange One), and (effective from 1 March 2018) also make at least 5 card purchases using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions). Card purchases includes in store credit or EFTPOS purchases, online purchases, regular card payments, paywave, Apple Pay, and Android Pay transactions made with an Orange Everyday Visa card, Orange One or Orange One Platinum Visa card or Nil Interest Visa card provided with an eligible ING home loan. Card purchases made in store or online this current calendar month which settle next calendar month do not count towards the 5 card purchases needed this current calendar month. When determining if you are eligible under the offer, we also take into account the behaviour of any of your joint account holders or additional cardholders. If eligible, under the offer ING will waive the International Transaction fee of 2.5% of the amount of the international transaction. If eligible, the offer applies to all accounts held in your name (either single or joint account). Merchants may charge you a separate fee for their services (which is not rebated under this offer). An international transaction is any transaction: in a foreign currency; or in Australian dollars or a foreign currency, where: o the merchant or financial institution accepting the card is located outside Australia; or o the entity processing the transaction is located outside Australia. This offer may be changed or withdrawn at any time at ING's sole discretion. Any advice in this Middle Markets Update does not take into account your organisation's objectives, financial, tax or accounting circumstances or needs and you should consider whether it is appropriate for the organisation you represent. You should consider the relevant Terms and Conditions and the product's appropriateness when deciding whether to acquire a product. ING 60 Margaret Street, Sydney, NSW, 2000, AU