The S&P/ASX 200 opened slightly lower this morning and began to claw back losses before the 11.30 CPI announcement. The market has stabilised and is down 15 points or 0.3% at 4557.
Other Asian markets are experiencing small falls, with the Nikkei 225 down 0.5% at 10041 points, and the Hang Seng steady at 22568 points.
Other risk assets are up strongly on the back of the perceived USD weakness, with the AUD continuing to make gains, now at 1.1044 against the USD, whilst gold reaches its record high again at $1624 USD an ounce. WTI crude is up slightly at $99.13 USD per barrel.
Movers and Shakers
It’s mixed across the board, but mainly down with the healthcare sector down the most (1%). The banks are all down 0.1% to 0.8% barely absorbing the CPI result.
The resource twins BHP and RIO down 0.9% and 0.36% respectively, whilst my preferred offspring – Cochlear (COH) and CSL – are steady and down 2% respectively (probably on the strong AUD?)
The big winners amongst ASX200 stocks are Murchison Metals (MMX) up 5%, Aquila (AQA) up 5% and Transpacific (TPI) up 4.8%.
The biggest losers include Paperlinx (PPX) down 6%, Bluescope (BSL) down 5% and Envestra (ENV) down 4%
Daily Chart
The daily chart shows that prices continue to stay below the downward sloping trendline from the late March high. The short term support at 4530 points (the horizontal orange line, and the 15 day moving average (green line) with strong medium term support remaining at 4450 points.
