Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Forex.com’s Kathlees Brooks analyses the two different approaches by two central banks under the pump.
The ECB announced various measures to support European bank recapitalisation last night while positive US data added to more euphoria. Dow up 183.
Russell Investments’ quarterly survey of fund managers shows defensive assets are still preferred, while rate cuts are considered the most likely catalyst for domestic non-mining growth.
ATW’s Jerry Simmons zooms in on potential trend reversals for risk assets.
European markets responded well to bank recapitalisation talks while Wall Street kicked on. Dow up 131.
A combination of possible rate cuts by the RBA and a stronger US dollar suggest to CBA the Australian dollar could temporarily dip below US90c.
Late positive news from Europe turned a 250 Dow fall into a 153 point rally on the close.
The RBA has taken another step towards cutting its cash rate with its least hawkish statement to date.
Mounting pressures have not forced a move from the RBA this month. Cash rate remains at 4.75%.