Australian data, ECB in focus today: The ASX 200 looks set to extend its rally into a third session today with SPI futures pointing to a gain of 12pts on the...

David Scutt

Scutt Partners

Australian data, ECB in focus today: The ASX 200 looks set to extend its rally into a third session today with SPI futures pointing to a gain of 12pts on the open. While commodity prices were mixed overnight, something that could potentially spark profit taking in the miners and energy sector after two days of solid gains, given increased chatter about further rate cuts from the RBA it's likely that the index will continue its recent pattern of grinding higher over the course of trade. On a sector-specific basis the retail sales data released at 11.30am will be influential on both consumer discretionary and staples. Still, even if weak, it may actually benefit the overall index given it'll add to calls for future easing, hence benefit yield plays. (VIEW LINK)


David Scutt
Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

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