Sunset Strip | Aussie market maintains the negative rage despite currency and Iron Ore stabilising
Sunset Strip | Aussie market maintains the negative rage despite currency and Iron Ore stabilising. We turned short term positive today with market having a panic sell day before FOMC meeting comments tonight. The markets globally are in uncharted territory in regards to money printing, interest rates, currency manipulation, low inflation, low growth, high unemployment and real wages decline. I don't think any move by US Fed is going to be substantial till most of the concerns regarding sustainable recovery are solved. US growth is below trend and will face further pressure with Iraq, Ukraine and Ebola. The fall in the currency shows that we have already taken our market down nearly 7% in USD over the month of September. Lights, camera and action for Janet Yellen tonight...this should be a good night....market will move...B+ . Trading idea of the day: BlueScope Steel (BSL). Wednesday's Star Performer: Vita Group (VTG). (VIEW LINK)
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...