Market Comment |
Australia |
| The S&P/ASX 200 index dropped 1.13% or 63.874pts to 5610.1 (day range: 5673.9 – 5588.4) on Thursday. The index is below its 20d MA (@ 5626) and above its 50d MA (@ 5590). 54% of the index constituents are above their 20D MA (vs 67% the previous session) and 47% of the shares are above their 50D MA (vs 57%).
Australia’s jobless rate rose to 6.3% in July (vs 6.1% expected) from 6.1% in June, according to the government. |
Foreign Exchange |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The US dollar was mixed against its major counterparts on Thursday. On the US economic data front, Initial jobless claims increased slightly to 270K for the week ending August 1 compared to 267K in the week prior. (272K estimate). Continuing claims came in at 2255K for the week ending July 25 vs 2269 revised the week prior. (2249K estimate).
The Euro was stronger against its major pairs except for the Canadian and New Zealand Dollar. In Europe, German factory orders were up by 0.2% in June after a 0.3% slid the previous month. Economists anticipated a 0.3% increase. Bank of England signaled that it could start to increase moderately interest rates in 2016. Separately, according to Halifax, UK house prices fell by 0.6% in July, the first slid in five months, after being up by 1.6% in June. The Australian dollar was under pressure against all of its major counterparts. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING CENTRAL current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
Easy Forex Pty Ltd (AFSL 246566 ABN 73107184510) makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. Easy-Forex recommends that you read the Regulation Page, The Product Disclosure Statement, the Terms and Conditions and the Financial Services Guide before making any decision concerning Easy-Forex’s products.