Market Comment |
Australia |
| The S&P/ASX 200 index jumped 1.69% or 84.829pts to 5115.25 (day range: 5115.25 – 5030.4) on Tuesday. The index is below its 20d MA (@ 5205) and below its 50d MA (@ 5435). 31% of the index constituents are above their 20D MA (vs 21% the previous session) and 24% of the shares are above their 50D MA (vs 17%).
Australia: The ANZ Roy Morgan Consumer Confidence Index dropped 5.8% WoW to 106.7 in the week ended September 6. Australia’s August business conditions was 11 (vs 6 in July) and business confidence was 1 (vs 4 in July), according to the National Australia Bank. |
Foreign Exchange |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The US dollar was under pressure against its major counterparts with the exception of the CHF and JPY on Tuesday. On the economic data front, NFIB small business optimism rose to 95.9 in August from 95.4 in July (96 estimate).
The Euro was weaker against all its major counterparts except for the CHF and JPY. In Europe, euro zone GDP growth was 0.4% in 2Q from a previous estimation of +0.3%. German trade balance excess increased to E25B in July from E24.1B in June. Exports were up by 2.4% while imports gained 2.2%. The Australian dollar pushed higher against all its major pairs. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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.