By Chris Becker
Markets remains poised and waiting for the outcome of the US presidential election in November. Conflating the wait is the fallout from troubled Deutsche Bank, which appears to have reached a settlement (cough, payoff?) on Friday, which boosted markets after a turgid week. The USD remains firm as do US Treasuries as we also await the direction of the Federal Reserve’s interest rate agenda with more economic data supporting another hike next month. Where to for Australian stocks and dollar? The answer in the short term is up, to a point, as the technical picture for both look stretched.
As usual for Monday mornings (aside waiting 2 hours for Windows 10 to update!) I’ll step back and look at the longer term view using daily and weekly charts.