FEAR & GREED | Business News Afternoon Report | Coalition trouble
Jan 23, 2026
Markets were steady with ASX closing flat, while gold prices soared to a record high. Political drama unfolds as the Liberal Party grapples with tensions with the Nationals, amid leadership pressures and polling shifts favoring One Nation. In currency news, the Aussie dollar hits a 16-month high, buoyed by rate-hike expectations. Meanwhile, a tragic shooting incident near Lake Cargelligo claims three lives, prompting a search for the suspect.
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Market Flat, Gold Leads Rally
- The ASX closed flat with gold stocks leading after a fresh record in the precious metals price.
- Gold hit about US$1,964.99 an ounce and tech names like Life360 surged on user growth news.
Coalition Turmoil Deepens
- The Liberal Party is battling internal divisions and may not reunite with the Nationals soon.
- Polling shows One Nation strong while the Nationals lag, increasing coalition instability.
Aussie Dollar Surges On Rate Bets
- The Aussie dollar climbed to a 16-month high as markets price in multiple RBA rate rises.
- Investors see a 60% chance of a hike in ten days and a near-certain rise by May.