The Dow closed slightly down last night (-0.29%), which broke 7 positive days in a row. Our market is also expected to open slightly lower, which will see the trend of profit taking over the past two days continue. Westpac is officially the last of the Big Four Banks to raise capital. Westpac today announced […]
Overnight the US dollar fell to a three-week low, even after Federal Reserve officials continue to back the case for higher interest rates this year. With US stocks fluctuating near seven-week highs in light holiday trading, Fed Vice Chairman Stanley Fischer became the latest policy maker to back the case for a year-end increase interest […]
The market action of the past few weeks continues to amaze us due to the moves week to week, examples last week included Santos +34.7%, Origin +21.8%, RIO +10.78%, OOO (oil) +10.00% and BHP +8.94% (see figure 1). All these moves are hard to pick, and shows the level of hedge fund selling and buying […]
The US Fed minutes from their 16-17th of September meeting were released overnight. The minutes stated the Fed thought the economy was close to warranting an interest rate hike, however it was prudent to wait for evidence that a global economic slowdown was not knocking America off course. This saw global stock markets rally, given […]
The Australian market appears to have found some buying interest in the last few days, and the correlation with the Australian Dollar appears to remain in place short term. Heavy currency selling remains associated with offshore groups exiting Australian assets (shares), while the rallies appear to be linked to market buying. The rise in oil […]
The daily moves in the DOW continues to exhibit high levels of volatility, and really gives you little insight into the state of play of US companies and their economy. The over analysis of US rate rises for December 2015 or early 2016 has dominated market trading, and hedge funds appear to be very active […]