JOB HAS BEEN SPONSORED TO MARKETS
SPI Futures suggests that ASX200 should open about 11 points higher this morning, supporting a busy day across Australian financial markets. The solid opening, if it comes to the obvious, comes thanks to a relatively positive overnight guide of global markets, with the S & P500 bouncing 0.9 percent t during Wall Street trade, and European indices were generally finished higher. As one could guess, and using recent history as a guide, it was a trade-friendly risk war heading that decided the mood of trade. This one told markets that Trump's administration would suspend sanctions on a Chinese mega company, Huawei.
There are technical signs that the Australian is becoming too much, judging by the RSI and the descent wedge pattern that is visible on the daily charts. But the pop will probably come from this arrangement likely to be sudden, before the A-Dollar continues to slow down. Only shy points of the big-6500 mark – which is a new 11-year high, looking far, in general, the weaker global economic outlook is the market. A downturn in the global economy could eliminate this rapid rally; however, with the market, therefore, miners and banks of such kind are still fuel for more upside down.