Retailers in Focus... | US also needs some "Budget Love".. | Gold Moves Higher as USD falls... |

Niv Dagan

Peak Asset Management

Good Morning, It appears that corporate Australia have given the “tick” to the federal budget…. With two days of gains on the ASX, today we are going for a “hat-trick”, however, SPI futures are currently pointing to a 16 point fall on open… A lot can change in 8 hours… especially on financial markets… A $5.5 billion small budget package encouraging small businesses to go on a two-year spending binge was so good for retailers they could have written it themselves, Harvey Norman chairman Gerry Harvey quipped on Wednesday. The 2015 budget pushed shares in electronics and homeware retailer Harvey Norman to levels not seen since 2008, up 22¢ to $4.62. Rival JB Hi-Fi was similarly buoyant, reaching a one-year high to close up 43¢ to $20.90. In the US, Retail Sales figures were poor…. Maybe our American friends also need some “budget love?” Commodities in general were mixed, with Crude Oil down 1.17% to $60.05/barrel, Gold rallied strongly, up $22/oz and the AUD/USD is back above $0.81….. The SPI is pointing to a 16 point fall on open…

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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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