Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
The latest ATW broadcast was compiled ahead of the FOMC meeting but still offers technical insights into support zones, consolidation patterns and potential break-outs.
Chinese and European PMIs, US data, strategic oil reserve release, and then a new Greek austerity plan. From 234 points down, the Dow closed down only 59.
A survey of fund mangers by Russell Investments has shown a more uncertain outlook, with defensive assets currently favoured over growth assets.
FXCM currency analyst David Song predicts the USD will see strength, not weakness post Bernanke’s meeting with the press.
Wall Street took a tumble in the last hour as Bernanke admitted US economic problems may not necessarily all be temporary. Dow down 80. (Locked for subscribers until 10:00 AEDT)
Russell Investment is of the view global equities are not overly cheap, the Aussie dollar is too expensive and commodities are likely headed lower.
Wall Street became more confident overnight that Greece will get the funds it needs to prevent default. Dow up 76. (Locked for subscribers until 10:00 AEDT)
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
CIBC is forecasting a stronger US dollar ahead as European data begin to weaken.