In US economic data, the final estimate of economic growth for the September quarter showed a 5.0% annualised pace, above estimates of 4.3% and the fastest pace in 11 years. Chain store sales were up 5.3% in the latest week, up from 4.1% in the prior week. New home sales fell 1.6% to a 438,000 annual pace in November. Personal income rose by 0.4% in November with spending up 0.6%. Home prices rose 0.5% in October to be up 4.5% on the year.
Vittorio Hernandez Dec 24, 2014
Local shares continued to lose ground over the course of Tuesday afternoon. The four preceding sessions saw the ASX 200 rise by 290 points or 5.5%. Local participants shrugged off the positive tone that featured in US and European trade overnight, to the extent that the market ended at the lows of the day.
Vittorio Hernandez Dec 23, 2014
Relief appears nowhere for Australia's iron ore exporters as supply continues to exceed demand, prompting the Bureau of Resources and Energy Economics (BREE) to cut again its forecast of prices for the key-steelmaking ingredient in 2015.
Vittorio Hernandez Dec 23, 2014
On the eve of Christmas eve, local shares have taken a pause after 4 sessions of gains in which the ASX 200 has risen by 290 points or 5.5%. The index started the session with a loss of 8 points before trading at the lows of the morning as lunchtime loomed. Local participants looked through the generally positive that featured in US and European trade overnight. European shares were firmer in the latest session with the FTSEurofirst 300 index up by 0.4% and the German Dax up by 0.8%. Investors w...
Vittorio Hernandez Dec 23, 2014
It was another quiet night as the markets head into the Christmas break. The USD remains strong. The AUD did rise to USD 0.8170 during the day yesterday, but is back around the recent lows of USD 0.8115.
Vittorio Hernandez Dec 23, 2014
The Santa Clause rally is rolling on in global equities with sentiment remaining positive as the S&P marches towards its record high yet again. The S&P closed at a record 2077 and is within a couple of points of its December 5 intraday record high of 2079. The bounce in crude oil prices seems to have been a flash in the pan with investors finally realising that comments by OPEC members from the weekend did not imply they will look to correct the current supply situation. In fact, Saudi Arabia se...
Vittorio Hernandez Dec 23, 2014
In US economic data, the national activity index rose from a revised reading of +0.31 in October to +0.73 in November. Existing home sales fell by 6.1% to a 4.93 million annual rate in November, down from an expected level of 5.2 million.
Vittorio Hernandez Dec 23, 2014
Australian shares improved for the fourth straight day with the ASX 200 Index up 1.9 per cent and finishing near intraday highs. Generally markets are quiet as we approach Christmas; however a surge in oil and iron ore prices on Friday have helped both energy and mining industries gain strongly.
Vittorio Hernandez Dec 22, 2014
The ASX 200 has started a holiday shortened week in the same fashion it ended the previous week; with solid gains. At lunch on the east coast the index was close to the best levels of the day. Local stocks pressed ahead on the back of gains for US stocks at weeks end, which capped off an encouraging week on Wall St. After being up 96 points, the Dow Jones finished higher by almost 27 points or 0.2%. The S&P 500 index rose by 0.5% while the Nasdaq lifted by 17 points or 0.4%. For the week, the Do...
Vittorio Hernandez Dec 22, 2014
The Australian Dollar had a quiet day of trading on Friday and has opened in the mid .8100's this morning.
Vittorio Hernandez Dec 22, 2014
Markets ended last week on a positive note with the post-FOMC meeting bid tone continuing to resonate through the globe. The rebound in oil prices also helped underpin sentiment to an extent. While equities drifted higher, there were some notable moves in the fx space with the greenback gaining significant ground against the euro and yen. EUR/USD plunged to $1.222, breaking below its early December lows and now trading at its lowest sinceJuly 2012. The main event for Europe this week will be Gre...
Vittorio Hernandez Dec 22, 2014
In US economic data, the Kansas City Federal Reserve manufacturing index was steady at +9 in December with the composite index up from +7 to +8.
Vittorio Hernandez Dec 22, 2014
Australian shares completed a trifecta of winning days on Friday, closing around the best levels of the session. Over the course of the last week the ASX 200 has risen by almost 2.3 % , balancing the loss of the pre-ceeding week when the market fell by almost 2.2%.
Vittorio Hernandez Dec 19, 2014
Australian shares are improving for the third day after six straight sessions of weakness. The ASX 200 Index is up 1.3 per cent with the underperforming energy industry this morning's best performer.
Vittorio Hernandez Dec 19, 2014
The Australian Dollar has made back some of yesterday's post FOMC losses, currently trading around 0.8160.
Vittorio Hernandez Dec 19, 2014
The momentum from yesterday's Fed announcement has continued to resonate through global markets, with equities in Europe and the US extending gains.
Vittorio Hernandez Dec 19, 2014
In US economic data, the Conference Board's Leading Economic Indicators Index rose by 0.6% in November after a similar lift in October. The index is up 6.1% on a year ago. The Philadelphia Fed Index fell from the outsized 40.8 gain in November to 24.5 in December. US jobless claims fell from 295,000 to 289,000 in the past week.
Vittorio Hernandez Dec 19, 2014
The local sharemarket has finished firmly in the black, following a strong lead from European and US markets. The S&P 500 enjoyed its best one day gain in a year, after the US Federal Reserve signalled it was on track to raise interest rates next year - reinforcing the strength of the US economy. That positive lead helped the All Ords finish up 1 percent to 5,189.
Vittorio Hernandez Dec 18, 2014
The Australian share market opened the session with a solid gain for the second consecutive session on the Thursday. The strong tone for the first half of the session came in the wake of similar gains for US and European markets in the last 12 hours. US share markets rallied sharply after the Federal Reserve gave a strong signal that it was on track to raise interest rates at some point next year - pointing to confidence in the US economy. At the close of trade, the Dow Jones was up by 288 point...
Vittorio Hernandez Dec 18, 2014
The Australian Dollar has dipped suddenly to USD 0.8120 following headlines the FOMC had dropped the "considerable time" phrase with respect to its guidance on interest rates, and instead deciding it could be "patient in beginning to normalise" policy.
Vittorio Hernandez Dec 18, 2014
US equities surged on the back of the Fed meeting, which seems to have hit a sweet spot as far as balancing expectations is concerned.
Vittorio Hernandez Dec 18, 2014
In US economic data, consumer prices fell 0.3% in November - marking the largest decline since December 2008. Annual growth eased from 1.7% to 1.3%. The fall in gasoline prices (down 6.6% in November) was the biggest driver. Core CPI (ex food and energy) lifted up 0.1% in November to be up 1.7 over the year. US current account deficit rose from $98.42 billion to $100.36 billion in the September quarter.
Vittorio Hernandez Dec 18, 2014
The Australian share market has ended a 6 session losing streak on Thursday with a gain of 9.6 points. The ASX 200 trade through a range of 41 points from low to high. The market was down 2 points at its worst levels and up 39 points at its best.
Vittorio Hernandez Dec 17, 2014
Buyers have made a rare impression on the ASX 200 in early trade on Wednesday. After 6 consecutive sessions of losses the share market has spent the morning in positive territory, having opened with a small loss of 2 points, before moving on to a gain of 33 points at session highs. As lunchtime approached the ASX 200 was ahead by 32 points.
Vittorio Hernandez Dec 17, 2014
The Australian Dollar is unchanged from this time yesterday, having given back some overnight gains as volatility increases in global markets.
Vittorio Hernandez Dec 17, 2014
It's the end of the year, a busy season for doomsayers and hoaxers. This explains why everyone is talking either about World War 3 to be initiated by Russia or writing hoax articles.
Vittorio Hernandez Dec 17, 2014
Equities rebounded in European trade whilst US equities struggled as investors exercised caution heading into the FOMC meeting. Additionally, oil prices remained extremely volatile, with weakness prevailing. In Europe, traders focused on surprisingly firmer manufacturing and services PMIs, along with a vast improvement in the ZEW economic sentiment readings.
Vittorio Hernandez Dec 17, 2014
In US economic data, housing starts fell by 1.6% in November to a 1.028 million unit pace. Building permits fell by 5.2% in November. Despite the mild pullback the housing sector continues to see healthy improvement. The Markit Flash PMI eased from 54.8 to 53.7 in December - a 11 month low. A reading above 50 still signalled an expansion in activity. Across the sub-indices output and employment expanded at a slower pace.
Vittorio Hernandez Dec 17, 2014
Losses worsened this afternoon with Australian shares falling by 0.7 per cent and closing at a fresh two-month lows in the process. The ASX 200 Index lost 0.7 per cent with both mining and energy industries slumping by around 2 per cent.
Vittorio Hernandez Dec 16, 2014
Australian shares are falling for the sixth straight session and trading at two month lows. The ASX 200 Index is down 0.5 per cent with the energy and mining sectors continuing to be the main liabilities.
Vittorio Hernandez Dec 16, 2014
