Niv Dagan

Good morning, And Happy Friday…. Global stocks rebounded last night as iron ore jumped 10% and Chinese stocks rallied This is good news……. But….. iron ore fell by 10% the previous day and Chinese stocks got hit, so really, we are back to square “1” Greece is still making headlines as Sunday’s deadline looms…… A last minute resolution has now been passed to creditors……. Will Germany agree? Doubtful……. The International Monetary Fund (IMF) slashed global growth and we still see volatility next week. The good news? We see a “bottom” forming in global markets as we feel that a “Grexit”, “Chinese Rout” and “Iron Ore Falls” are all priced into equities……. So it’s nearly time to buy……… Commodities were mixed last night with Crude oil up 2.19%, Gold down 0.4% and the AUD/USD is now trading at $0.7650 The SPI is pointing to a 19 point fall this morning



Comments

Please sign in to comment on this wire.