Giving up on the SP general discussion thread for now because turned into a big argument over the BLM approval.
What are we thinking will happen on Monday and next week more broadly? The RBA will be increasing rates Tuesday arvo and the US employment figures are strong which means the US FED reserve may continue aggressive rate hikes.
The RBA has hinted it may be a 40 basis point rise while others are saying it may be less. If there's still speculation around the number then a 40 basis point rise would sting. And the US figures always seem to push the ASX around so there's that.
On the other hand the SP has fallen to what looks like a new resistance point at 12c-13c so it might hold out.
Hopefully we get an announcement next week. GLTAH
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