Market pretty much kept on falling all day as inflation data removed any faint hope of another rate cut in 2016. The rate cut hope was a fallacy as the last two rate cuts did not even remotely solve the inflation or the currency issue. We are heading into a two week period dominated by US macro while local macro should be docile. The local market will sway during this weak sentiment period on market updates from corporates through AGM season. US reporting season has been stable to slightly weak while the macro updates with US Fed update before US Presidential Election will keep things interesting. Weak Apple update is not going to help the weak US reporting season momentum tonight. RBA will be on hold for the rest of 2016 after better than expected CPI data while US Fed and BOJ update next week will be more about wait and see with macro uncertainties hanging over the global economy. For the full report….... (VIEW LINK)
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