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Azeem Sheriff -
CMC Markets -
Trading Idea of the Day
ASX:XRO- Xero Ltd - BULLISH BIAS (long term)
- Key levels on the chart - consider taking trades from key support/resistance zones.
- Starting out in New Zealand and Australia, Xero has since spread to the UK, United States and over 100 countries around the world. The super simple online accounting tool lets anyone manage their company finances for a monthly subscription fee.
- The simpler interface and UX design has meant that Xero is often favoured over more established names by freelancers who don’t have a financial background.
- Xero is still in relatively early stages of growth with additional integrations, tools and features added on a regular basis making the management of your business easier year after year.
- This creates a very sticky customer base that provides an unusually high resilience on revenue for Xero.
ASX & Economic Key Events
OPTO For Investors Research
Article of the Day: Has the SPDR S&P Semiconductor ETF bottomed?
Podcast of the Day: Inside Callum Thomas’ Topdown Charts analysis process
APAC Daily Report
Market Snapshot & Highlights as of 8am AEDT
Global Markets Headlines
- UK’s new finance minister scraps almost all planned tax cuts (CNBC)
- Xi wanted China to be at the tech frontier. 5 years on, tensions with the U.S. have dented that goal (CNBC)
- Bank of America tops estimates on better-than-expected bond trading, higher interest rates (CNBC)
- China’s Xi downplays need for rapid growth, touts Covid achievements (CNBC)
- Xi warns against foreign interference in Taiwan, says China will ‘never promise to renounce’ force (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
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