Phillip Capital reviews Australian economic data and moves in stock, currency and gold markets.
Wall Street tumbled last night on weaker data and a stubborn fear of Fed tapering. Dow down 216. (Accessible only for subscribers before 10:15 AEST)
Hawkish Fedspeak sent Wall Street tumbling last night, but the buyers never miss an opportunity. Dow down 76. (Accessible only for subscribers before 10:15 AEST)
The Aussie is still overvalued, says the RBA, and there’s more scope for further rate cuts.
The RBA has left its cash rate on hold at 2.75%
A raft of mixed global manufacturing data, the ongoing Japanese slide, more Fed-speak, a bounce in commodity prices and a big bounce in the Aussie make for more confusion. Dow up 138. (Accessible only for subscribers before 10:15 AEST)
The Chartist expects further volatility in the Aussie dollar, with the US$0.94 level looming as a test of critical technical support.
The low AUD is already impacting on the Australian Healthcare sector in terms of positive earnings forecast and target revisions.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.