Afternoon trading July 18

  1. 14,377 Posts.
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    Thanks @shovel40, @Fiji1 and morning crew.

    Half-time wrap:


    Aussie shares added to early falls after the Reserve Bank reiterated its determination to raise benchmark rates higher if inflationary pressures do not recede within a "reasonable" timeframe.

    The ASX 200 dropped 24 points or 0.33% towards a second straight loss. Financials, tech and utilities were the only sectors to resist the slump. Property, telecommunications and industrials were the biggest drags.

    The sell-off accelerated after the minutes from this month's policy meeting doused hopes the board has completed the current rate hiking cycle.

    The key phrase from the minutes read: "Members agreed that some further tightening of monetary policy may be required to bring inflation back to target within a reasonable timeframe, but that this depended on how the economy and inflation evolve."



    Personal trading
    : Made a bit, but not enough to host the Commonwealth Games. Scraped a measly pip from an overnight hold in YOJ - hoped for more buying interest after yesterday's breakout, but nope. Got a few more pips from A4N and AGE off the lows.

    Last edited by highlandlad: 18/07/23
 
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