By Chris Becker
The Aussie dollar is on a tear in preparation for what looks like another deluded RBA meeting today as risk markets continue to move higher in the wake of the positive NFP print on Friday night. Tech stocks, led by Apple, lifted the tide on Wall Street as energy stocks were dragged down by a dropping oil price, as USD puts pressure on gold but eases against the majors which remain firm.
Recapping stocks in Asia yesterday first where the Shanghai Composite put in a solid green session, rising 0.5% to close at 3091 points, staving off a wider selloff as it dices with terminal support at 3000 points. There’s still daylight below 3000 points so it needs to make some meaningful gains soon:
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