Aussie market moved up hard as global investors jumped back on the large cap stocks with risk to falling currency subsiding. RBA staying on the sidelines on the rate cut cycle with China slowdown being negated by the US Fed remaining on the long path to interest rate normalisation. Market is now reading through the interest rate cycles around the world and realising that rates are going to remain low for longer and AUSUSD may hold up better than what market expects as the negative commodity news is already in the market. Aussie stock market moving up is mainly in the global investor hands and that will be determined by their view on AUDUSD in the short term. The signs are the global investors see a short term support for AUDUSD and that may be the catalyst for the Christmas Rally to kick into the next leg up. There is value in the market, but are the investors willing to pay? Well…it seems the global investors interest is back…let’s hope that remains. NEXT UPDATE ON FRIDAY!!! (VIEW LINK)
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