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Finfeed Archived Aug 03, 2020
After a horror day on Friday, there are no clear indicators that point to a market recovery on Monday. On the domestic front, coronavirus is tightening its grip on Victoria with the declaration of a state of disaster and stage 4 restrictions in Melbourne having a marked detrimental impact on businesses while overseas markets were mixed, suggesting little support from international dynamics.
Finfeed Archived Jul 31, 2020
US stocks traded mostly lower overnight while oil prices fell as government data highlighted the deep economic impacts of the pandemic.
Finfeed Archived Jul 30, 2020
The ASX lacked direction yesterday with negative COVID related news driving the market but direction should be restored with positive news coming from the Federal Reserve FOMC meeting highlighting an intention to address the economic fallout from the coronavirus.
Finfeed Archived Jul 28, 2020
The S&P/ASX 200 index (XJO) defied Friday’s negative leads from overseas to post a gain of 20 points on Monday. Australian producers are benefiting from favourable foreign exchange rates, and this support is likely to continue on Tuesday as the gold price soars.
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Finfeed Archived Jul 27, 2020
Geopolitical tensions between the US and China were central to the decline in global markets on Friday, and given recent posturing towards China by the Australian government the issues could well have a significant impact on our markets domestically.
Finfeed Archived Jul 24, 2020
Australian stocks look poised to open lower with futures contracts trading 59 points lower this morning. Gold rose on Thursday while global equities retreated as U.S. stocks were dragged down by a sharp drop in Apple amid a potential probe.
Finfeed Archived Jul 23, 2020
US stocks traded in the black overnight after a somewhat choppy session despite over 1,000 COVID-19 deaths per day and mixed earnings results. Gold prices staged another rally overnight adding about 1.4% to close at U$1,869.3 per ounce.
Finfeed Archived Jul 22, 2020
The S&P/ASX 200 surged 2.6% on Tuesday as the market responded positively to the government’s decision to extend support payments through to March 2021.
Finfeed Archived Jul 20, 2020
The S&P/ASX 200 index closed at 6033 points on Friday, up 1.9% on a week on week basis. However, Friday’s gain was relatively moderate, and is fairly insignificant in terms of providing a lead as to how our markets will perform in the coming week.
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