Okay, so I need to brush up on my ancient history as the title says…
Another eventful day on the local Aussie market, jumping on the open following the bullish moves on overnight markets, before retracing throughout the day up 0.4% or 17 points to 4273 points, still well below the long running resistance level at 4300.
Other Asian markets outperformed – again – with Japan’s Nikkei 225 gaining 0.7% to 9777 points – steamrolling ahead. The sometimes volatile Hang Seng is currently up 0.6% to 21564 points alongside the Shanghai Composite, currently over 1% to 2453 points and building on its breakout from its long term downtrend channel.
The AUD is proving resilient again, slipping just below 1.08 against the USD, while gold was steady throughout the Asian session, currently at $1718USD per ounce or $1593AUD per ounce
The futures are looking a bit felt with US and Euro markets looking like opening at their previous levels as the usual end of week data tonight is quieter than usual. Canadian GDP and EU retail sales about the only standouts.
This is a truncated Trading Day for Friday folks, my apologies. Since I’ve been shanghaied into doing Weekend Links, tomorrow morning, incorporating the Friday night Euro/US market sessions, I’ll provide my full analysis for the local and other important “macro” markets that all Australian investors should be aware of.
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