As the Australian stock market slip-slides away on the strength of AUD, brokers assess the impact.
Barclays Capital’s analysis of monthly seasonal trends shows May tends to be a good month for equities, nat gas and the US dollar, while commodity currencies and aluminium find the going tougher.
Silver continued its plunge and stole the limelight last night as Wall Street bungled along to a mixed close. Dow “unch”.
The RBA has left its cash rate at 4.75% but has hinted of tightening to come.
National Australia Bank sees scope for continued short-term Australian dollar strength against the greenback and lifts forecasts accordingly.
Technical analysis by ATW’s Jerry Simmons suggests the price of gold is peaking.
The TechWizard predicts the Canadian dollar will play catch up with the AUD against the USD.
Is it a time for euphoria or a time for fear? Wall Street is undecided. Dow down 3.
The TechWizard reports it appears AUD/NZD is setting up for another break-out.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.