Thursday 23rd July 2015
Market Comment
Australia
The S&P/ASX 200 index dropped 1.61% or 92.146pts to 5614.57 (day range: 5696.8 – 5614) on Wednesday. The index is above its 20d MA (@ 5562) and above its 50d MA (@ 5602). 61% of the index constituents are above their 20D MA (vs 73% the previous session) and 45% of the shares are above their 50D MA (vs 51%).
Australia: The Westpac Leading Economic Index edged up to 97.96 in June from 97.94 in May.
Australia’s CPI rose 1.5% YoY in 2Q vs +1.3% in 1Q, according to the Australian Bureau of Statistics
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| The US dollar was higher against its U.S. counterparts on Wednesday. On the economic data front, MBA mortgage applications rose 0.1% last week after declining -1.9% in the week prior. Existing home sales climb to an 8 year high reporting 5.29M in June compared to 5.35 in May above the 5.4M estimate.
The Euro was mixed against its major pairs. In Europe, French business confidence index climbed to 99 in July from 98 in June. The Australian dollar was under pressure against its major Pairs. |
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