Good Morning, So..

Niv Dagan

Peak Asset Management

Good Morning, So... The RBA yesterday left interest rates on hold..... Ok...... On the back of this shock announcement, the AUD/USD jumped nearly 80bp and the XJO fell by nearly 70 points at one stage... Yes, markets were building in a 93% probability that our central bank will cut, however, surely there will be a rate cut within the next two months? The issue for the AUS market is whether inflation starts to become an issue and whether the macro-economic growth over coming weeks will support the ASX200, given that reporting season is out of the way? So what will be the major catalyst(s) that will drive equity markets higher, short-term? Last night, US & European stocks retreated from all-time highs, as weaker than expected data was released...... Short-term, we feel that valuations are a little stretched here... so are advising clients to continue to trail stop losses higher, to protect the profits... It's been a nice run, hasn't it? Commodities were mixed with Crude up 1.53% to $50.35/barrel, Gold down $5 to $1,203/oz. and Copper unchanged at $2.69/lb. The SPI is pointing to a 12 point fall on open


Niv Dagan
Niv Dagan
Executive Director
Peak Asset Management

Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...

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