Sunset Strip (Afternoon Report) | Aussie market closed slightly down on RBA minutes after recovering from the negative opening due to falling Iron Ore price
Sunset Strip (Afternoon Report) | Aussie market closed slightly down on RBA minutes after recovering from the negative opening due to falling Iron Ore price. Aussie market closed down 0.21% while turnover was just below $4.7b. RBA continues to support low interest rates for longer. Few brokers are now downgrading Iron Ore stocks while others who were pushing Iron Ore recovery about $10 ago are back at it again. I rather be late to the party on this one...buy Iron Ore miners below $85 if falling or buy above $93 if it bounces. AUDUSD has now started to pullback below 94 cents, but we continue to expect to stay in the low 90's in the short term on safe haven basis. Stock pick of the day GXL (Buy $10.60). I am on the road for the next 2 days...NEXT SUNSET STRIP ON FRIDAY 20th....GO THE BLUES!!! (VIEW LINK)
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Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...
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