By Chris Becker
Back from holiday and what a week, particularly in the US dollar/commodity/currency complex, alongside some misplaced “jokes” by the local interest-rate lever believers at Martin Place.
Here’s some charts of markets that you should be watching at the moment, with my own notes and thoughts attached as of Friday night.
Remember, the following views are my own, do not constitute advice and are for information purposes only. I may have positions in any or all of the below and their associated markets both long and short, on an intra-day, daily and weekly basis for my own account. Please seek advice from a licensed adviser before making any investment decisions.
The biggest moves in US markets have been interest rates: a near doubling of 10 year yields –
US dollar has had a shocking week on back of comments by Ben Bernanke – but still in a clear bull trend:
Gold (USD) had a bounce on USD weakness, but there is no real case for a new bull market. Here’s the weekly chart:
Aussie dollar remains under pressure, but has potential to breakout strongly. I doubt it, but follow the chart (editor’s note, this was yesterday, the AUD briefly broke 90 cents last night which would change this chart):
Chinese markets went nuts this week – check out the Shanghai Comp (with ASX200 Materials in red):
With a long term view of the commodities complex – that’s a bear market btw:
Crude oil continues its breakout as the US dollar reversed, but moving into resistance:
Which isn’t impeding the US stock market – which has made a new high on the S&P500:
And finally, our local bourse, benefiting as both financials and materials are rallying strongly. Can it get to 5200 again?
