Aussie market started negative and fought back during the day to finish flat on the back of the big miners. The US market was negative after solid but below par job data over the weekend. Major indices DOWJON and SP500 went below 36mth MA while NASDAQ was trading on the 36 mth MA. The warning bells for US market have been ringing since late January. The markets are all about US Fed move and the flow on effects. Chinese New Year has started and the Aussie market is trying to remove the monkey off their back (i.e. currency worry). But the “Year of the Monkey” looks like anything but boring. Every central bank meeting in every major economy is going to be live with global anaemic growth being put on the line as currency war dominates policy settings. Gold sector continues to outperform as the production and margin outlook continues to improve unlike the rest of the resource sector. (VIEW LINK)
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