Hong Kong and Tokyo are both up around 1.7%. If Shanghai also follows this trend then perhaps our market will improve (it is currently only up around 0.5%).
Gold's retracement to USD1695 is suggesting that Draghi did not do enough for the risk on trade. WTI oil has also fallen 81 cents.
The positive news for me is that China has plans for another 24 underground railways and that indications are that US employment has probably picked up a bit - to be confirmed tonight when they announce the figures for the month of August.
Besides that we are waiting on the German court ruling that could impact ECB bond buying and the Fed's meeting next week. I suppose a possible selldown could wait for the outcome of these two events and in the meantime the market just marks time in Oz.
Junior Oz goldies doing poorly today despite the gains by the HUI, GDX and GDXJ.
loki
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Last
8,561.8 |
Change
-68.500(0.79%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |