Central Bank speculation escalation The ASX 200 looks set to fall for an eighth session in nine today with SPI futures pointing to a decline of 19pts on the...

David Scutt

Scutt Partners

Central Bank speculation escalation The ASX 200 looks set to fall for an eighth session in nine today with SPI futures pointing to a decline of 19pts on the open. While this figure does not incorporate the weak Chinese economic data released over the weekend, something that should see losses far greater than what futures currently suggests, given the limited falls in the AUDUSD this morning, a forward-indicator to what we'll likely see in equities, it suggests that the falls will be modest today, presumably on hopes for renewed stimulus measures from Chinese policymakers ahead. Keeping this in mind, the movements in Chinese equities and commodity futures will likely be influential today. Support is located at 5514, 5500 and at 5485 with resistance found between 5552-55. (VIEW LINK)


David Scutt
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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