Stocks bid, Dollar skids, as crude oil finds some traction - The ASX 200 looks set to make it 12 gains in a row today, something that will beat the previous...

David Scutt

Scutt Partners

Stocks bid, Dollar skids, as crude oil finds some traction - The ASX 200 looks set to make it 12 gains in a row today, something that will beat the previous index record of 11 if realised, with SPI futures pointing to a gain of 39pts on the open. While it should be entirely baked in the cake, the RBA's monetary policy statement on Tuesday basically outlined what be seen in today's statement on monetary policy, it's likely that downgrades to GDP growth, inflation and unemployment for 2015/16, something that will reinforce the view that the cash rate will continue to move lower, will assist the ongoing bid in higher-yielding sectors such as financials, consumer discretionary, industrials and telecommunications. Elsewhere the energy sector will likely outperform after being the laggard yesterday, crude oil was up a lazy 5% overnight, while materials are also likely to be bid after rallying strongly in the US overnight. (VIEW LINK)


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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