Thursday 16th July 2015
Market Comment
Australia
The S&P/ASX 200 index jumped 1.05% or 58.822pts to 5636.23 (day range: 5637.6 – 5576.9) on Wednesday. The index is above its 20d MA (@ 5550) and above its 50d MA (@ 5600). 60% of the index constituents are above their 20D MA (vs 49% the previous session) and 43% of the shares are above their 50D MA (vs 35%).
Australia: The Westpac-Melbourne Institute Consumer Confidence Index fell to 92.2 in July from 95.3 in June.
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| The US dollar rallied against its U.S. counterparts on Wednesday. On the economic data front, MBA mortgage applications fell -1.9% for the week ending July 10 compared to an increase of 4.6% in the week prior. US June Producer prices (PPI) gained 0.4% vs the 0.2% gain forecast. US Empire state manufacturing survey index increased to 3.86 in July after a -2.0% drop in June. Industrial production increased 0.3% in June from a decrease of -0.2 in May (0.2% estimate).The euro was mixed against its major pairs. In Europe, french consumer prices fell by 0.1% in June after a 0.2% increase the month before. Economists anticipated prices to be flat. In UK, jobless claims increased by 7K in June after a being down by 1.1K a month earlier (revised from -6.5K). Consensus anticipated a 9K drop. Unemployment rate was up to 5.6% for the March-May period from 5.5% in the previous period. It was expected to b e flat.
The Australian dollar was under pressure against its major Pairs. |
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