Daily Report

The local market revered back to the previous sentiment in July, on the back of the NZ Reserve Bank reducing its key interest rate from 1.5% to 1% this afternoon. This helped the ASX 200 to rally thereafter and ignored the current US-China trade war.

Corporate earnings were a focus with CBA underperforming against the big 4 after slightly missing its earnings, today it traded over $2.05 lower this morning as low as $77.47, only to claw back and close down -$1.10 to $78.70 – MM currently hold CBA and are happy to hold at these levels.

Market Matters are currently comfortable with the current index level at present.

Overall, the ASX 200 gained +41 points today, or +0.62% to 6518, Dow Futures are currently off 77 points/-0.30%.

Please see the current reporting calendar

ASX 200 Chart

ASX 200 Chart

Commonwealth Bank (CBA) Daily Chart

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