Market Comment |
Australia |
| The S&P/ASX 200 index decreased 0.65% or 35.926pts to 5473.23 (day range: 5543.2 – 5463) on Tuesday. The index is below its 20d MA (@ 5621) and below its 50d MA (@ 5575). 32% of the index constituents are above their 20D MA (vs 38% the previous session) and 43% of the shares are above their 50D MA (unchanged).
Australia’s foreign reserves amounted to A$68.9B in July vs A$67.3B in June, according to the central bank. Australia’s July business conditions was 6 (vs 10 in June) and business confidence was 4 (vs 8 in June), according to the National Australia Bank. |
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| The US dollar was stronger against its major counterparts on Tuesday. On the economic data front, the July NFIB small business optimism index rose to 95.4 from 94.1 in June, in-line with estimates. Wholesale inventories rose 0.9% MoM in June compared to a 0.8% gain in May.
The Euro pushed higher against its major pairs. In Europe, German ZEW business confidence survey for expectations fell to 25 in August from 29.7 in July. It was expected to be up to 31.9. The Australian dollar was under pressure against all of its major counterparts. |
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