Does anyone else think like me that overseas investors and fundd managers would have been holding off investing in ASX stocks with the A$ falling and being talked down further? Why would you have been buying over recent months with the prospect of losing 5-10% or more as the A$ falls? We might see a more consistently upward moving market IMHO once the A$ bottoms arounf the RBA's target of US$0.85.
Volumes are relatively low recently as its just local fund managers and traders moving things around in response to what's happening mostly in the US. In my experience our market only really moves consistently higher when overseas funds and investors are doing some serious buying.
H
AGO Price at posting:
$1.15 Sentiment: LT Buy Disclosure: Held
