The market is running on "the promise of US rate cuts".
If they cut - and I'm doubtful that they will - the market may not react in the favorable way that we are being led to believe.
I'm of the opinion that the "promise" (or the lie..) will keep the market afloat, but they will continue to hold rates for a while longer.
Suppose they cut, and BOJ lifts in response....... We saw what happened with that recently, just a 0.25% rise from Japan sparked pandemonium.
The ideal scenario for CHN holders is if RBA cuts and FED doesn't.
This would place downward pressure on the Aussie dollar making our mining and agriculture industries more profitable in $AUD terms.
Always be careful what you wish for.
CHN chart, page-8960
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Last
$1.53 |
Change
-0.015(0.97%) |
Mkt cap ! $593.2M | |||
| Open | High | Low | Value | Volume |
| $1.55 | $1.58 | $1.49 | $4.605M | 3.007M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 53590 | $1.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.53 | 26932 | 2 |
View Market Depth
| Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
| CHN (ASX) Chart |