ASX shares daily

Advertisement

By David Llewellyn-Smith in for Chris Becker

Remember to read “Trading Week“, published Saturday morning, to put these events and ideas in context.

Asian markets were all marginally up today. The local market, the S&P/ASX200, bumped around all day before finishing up 7 points to 4292. Telcos led the charge up almost 1% with financials up almost a half a percent. The laggard was the oil and gas sector down 0.7%.

The same direction-less trade was evident across Asia with no bourse more than a third of a per cent from zilch.

Australian government bonds reversed some recent gains up four pips to a still unbelievable 3.28%.

Advertisement

Despite the idiotic headlines (including here at MB), the AUD only very briefly tipped below parity with the USD, though there is clearly more weakness ahead barring a sudden resolution in Greece. I’ll cheer it all the way down:

Tonight

Advertisement

It’s a big night of US data with May Empire Fed and April Advanced Retail Sales and CPI. Consensus for each is +0.2%, 9.5 points and 2.3%. I’ll take over for retail and CPI and under for manufacturing.

You can find Chris’s Twitter here.

Disclaimer: The content on this blog should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation, no matter how much it seems to make sense, to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The authors have no position in any company or advertiser reference unless explicitly specified. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult someone who claims to have a qualification before making any investment decisions.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.