Thanks Barnsty. Half-time round-up:
Shares hovered near four-week highs this morning as the pick-up in global risk appetite pushed the dollar to a new record.
At lunchtime the ASX 200 was ahead 3 points or 0.1% at 4825 as gains in resource stocks, Telstra and health stocks offset falls among the big banks, industrials, energy stocks and small caps.
The dollar was trading near a new post-float record this morning, recently buying US $1.0342.
"It's very much a story of upbeat global sentiment pushing the Aussie dollar higher and it just ground gradually higher throughout the offshore session to a new post-float high," Bank of New Zealand currency strategist Mike Jones told Fairfax.
The morning's domestic economic news painted a mixed picture of the economy, with retail sales up, house prices flat and building approvals unexpectedly plunging. Retail sales had their biggest rise in seven months, increasing by 0.5% last month, up a notch from January's growth rate of 0.4%. National city house prices were unchanged last month but building approvals slumped for a second month, falling 7.4%.
Regional markets were little changed this morning. Japan's Nikkei eased 0.22% and Shanghai was off 0.03%. Hong Kong's Hang Seng rallied 0.22%. Dow futures were recently at -2.
Crude oil futures recovered 34 cents this morning at $104.65 a barrel. Spot gold was 30 cents stronger at $1,424.30 an ounce.
Looks like a forgettable day for the XJO, but simply holding recent gains is bullish in itself. After all, the market has bounced more than 6% or 300 points in 10 trading days. Was all about MSB for me this morning. Began buying too early (not unusual) but lowered my average entry enough to turn a profit when the bounce came. Still holding a third in case it cracks $7.
- Forums
- ASX - Day Trading
- daytrades march 31 afternoon
daytrades march 31 afternoon
-
- There are more pages in this discussion • 163 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online