daytrades oct 14 afternoon

Thanks Tweets. Half-time round-up:

The dollar hit a new high this morning and regional markets bolted as soaring commodity prices fuelled a surge in mining stocks.

At lunchtime the ASX 200 was up 76 points or 1.65% at 4696. All sectors except health were trading higher, with the biggest rises coming in gold +2.8%, metals & mining +2.4% and materials +2.7%.

The dollar came within a whisker of parity with the U.S. dollar this morning after inflation expectations data topped expectations. The dollar was recently buying 99.66 U.S. cents after earlier touching 99.72 cents. Expectations for inflation jumped to 3.8 per cent this month, according to a survey released this morning, up from 3.1% last month. Both figures are above the Reserve Bank's target band for inflation of 2 - 3%.

Asian markets rallied sharply this morning. Japan's Nikkei was recently up 1.81%, Shanghai 0.82% and Hong Kong's Hang Seng 0.97. Dow futures were recently at a bullish +37.

Gold and oil continued to charge higher this morning as the U.S. dollar index fell away. Crude oil futures rallied 74 cents to $83.72 a barrel and the spot gold price was up $4.10 at $1,376.60 an ounce.


Good to see our market finally follow a positive lead from Wall Street. We're about back to where we started the week, lol. A solid morning here thanks to bounce trades in FAR, LOM and CWN. Spotted the looming tumble in LOM and got filled in the low 5s, however I missed a cracking profit when CommSec failed to fill a second order in the 4s - order got stuck in "Processing". Very frustrating. Would have been another week's wage in it.