You can see the immediate impact from RBA minutes today. AUD...

You can see the immediate impact from RBA minutes today. AUD spiked up by 1+C, ASX200 sold off. This is what happens when interest rate goes on a hiking cycle. Unfortunately the rise in AUD is a combination of good recovery in IOP as well as rate hike expectation. You see the effects on XAUAUD, broke support and forms a daily bearish engulf price action below that KEY support.

This is the reason I cleared out of some great gold stock run and the rest is on very tight trail levels.



The current failure swing in CBA together with the fundamentals forced on RBA's hands is such that big 4 are on contrasting growth as APRA prepares as soft a landing on the banks while preventing the larger economy from deflating. $79 level remains a strong support but previous very bullish trend in 2015 did not prevent a deep pullback and RBA had the rate cut bullets to stoke growth but not this time. Couple with Yellen's "neutral rates" I think the onus is on the commodity currencies to be the first majors off the rank from low interest rates. BOE will follow suit then ECB.

I am not sure if there will be a X'mas rally and the fundamentals do not seem to point to one but I am not into predictions, Trendtracker is your man so perhaps he can offers us mere retail mugs some predictive confidence to be holding on to stock exposure?