Market crapped itself today over US jobs data. Expectation 224k new jobs 311k reported. It’s a double edged sword as this is seen as driving inflation, so the Fed expected to raise rates by 50 basis points when they meet 22 March.
What this means for next week, probably a bounce and then further consolidation leading up to rate announcement. If Fed goes 25 basis points the market will go nuts, it doesn’t want this so assume 50 is on the money.
Why this matters? The markets as a whole need to batten down the hatches while the rate rises continue. Expected it to ease in the second half of the year. Then things could stabilise H2 and align nicely with new flow. I would prefer this rather than announce in the current climate and still trend downwards.
Market crapped itself today over US jobs data. Expectation 224k...
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Last
$1.58 |
Change
0.055(3.62%) |
Mkt cap ! $268.4M | |||
| Open | High | Low | Value | Volume |
| $1.56 | $1.61 | $1.56 | $106.0K | 67.13K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 649 | $1.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.59 | 3000 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| RAC (ASX) Chart |