Aussie market flip flopped between China stimulus, NZ deflation worry and falling local consumer sentiment before Chinese market selloff and falling US market futures really took the market down south. The worry about US market was clear to see today as the selling came in hard in the last few hours and took the market down as US futures started to decline. We saw similar selling in all parts of Asia. Rate cut in Australia and NZ are most likely in Q2 and we will find out tonight we will find out how well Canada and Brazil are traveling. US data on consumer and housing tonight will set the trend. All eyes on US market tonight….will it roll over or did we all just panic for nothing….sentiment is low either way. Gold equities could be the real winner in any US market rollover. (VIEW LINK)
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