X

Select the account you'd like to open

AUD storming the barricade

Despite a slightly stronger US dollar and a night of profit taking in commodities the Australian dollar is taking another crack at 80 US cents. This matches the gentle risk on mode of market trading over the last 24 hours. European shares rose and bonds sold off after data from China pointed to a modest economic acceleration.

Futures markets are pointing to gains for most Asia Pacific share markets today. The stimulatory impact of US tax cuts and stronger growth in China’s industrial production may see investors zero in on financial and resource shares today. Energy shares could act as a barometer of overall sentiment. In an even handed weekly oil market report US inventories were depleted by more than 7 million barrels but daily production leapt back to near record levels.

The Australian share market may finally shake off its recent underperformance. The strength of the AUD is a concern that could increase if there is a sustained move through the current resistance. However support for the two most significant locally listed sectors should mean a better relative rise.


Disclaimer: CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.