Local market flip flopped to finish flat after opening positive on US market intraday recovery. North Korea and US seem to have taken a few steps back from recent bravado talk. USD continues the slide against most currencies while the Euro leading the charge. The US Fed outlook will get another check tonight with ADP employment change in the US. Weaker US outlook and stable China means AUDUSD is likely to break above 80 cents in the short term while the market overall is positioned for a fall to low 70’s. Base metals returned to their move higher with Copper leading the way. We maintain our positive view on commodities and safe haven investing in gold sector as US market risk plays out. Last day of the month tomorrow…markets have a funny way of rolling over after the end of month!!! The local reporting season continues to bat below average with more pain than gain. TLS going ex div drove the next level of TLS selling on growth/dividend worries. RHC’s lack of growth drove more selling but nothing like HSO. Another heavily shorted miner squeezed the shorters today on government approval in Mozambique…SYR nearly 20% shorted…joins the WSA (20% shorts) and IGO (15% shorts). Short covering and big global transition portfolios helped to create volatility in a market with very little sentiment. Local reporting cycle hits the last week…starting the week with weak global sentiment with not much macro till the back end of the week…stay nimble!!!
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2017 - Now > Blue Ocean (AUS) > Market Portfolio Strategist 2012 - 2017> Baillieu Holst (AUS) > Head of Strategy, Quant and Data Analytics 2009 - 2012 > Bell Potter / Southern Cross (AUS) > Head of Quant and Data Analytics 2007 - 2009 > LIM...
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