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  • Article / 8 minutes ago

    Australian Market Wrap: Strong start to month but Woolworths punished

    Trading Desk / Saxo Capital Markets
    Australia
    Australian Market Wrap: Strong start to month but Woolworths punished
    The first day of the month was strong with the S&P/ASX200 posting a 30-point gain to finish at 5958. Resources and goldminers were the strongest, rallying on the news of China's rate cut and PMI number. However, consumer staples reined in the strength following Woolworths ongoing punishment. There is support for AUDUSD at 0.7745, which will be tested over the Europe and US sessions.
    Read the article
  • Editor’s Picks / 1 hour ago

    Frothy housing market should keep Australia's cash rate on hold

    The Australian Financial Review
    If the Reserve Bank of Australia decides to sit on the sidelines regarding the cash rate at tomorrow's meeting, which would be wise, the frothy housing market will doubtless be one reason why. AFR columnist Christopher Joye writes a key topic of conversation at the meeting will be the reaction of Australia's unusually interest rate elastic housing market to recent reductions in local borrowing costs. Australia's housing boom is racing away and so-called "macroprudential" constraints on bank lending have had zero impact to date.
    Read article on The Australian Financial Review
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  • Article / 6 hours ago

    Today's Trade: China rate cut to help buyer mood

    Trading Desk / Saxo Capital Markets
    Australia
    Over the weekend China’s central bank surprised the market with a rate cut, shaving a quarter of a percentage point off benchmark lending and deposit rates. Its Manufacturing PMI also came in at 49.9 versus 49.7 forecast. Locally, markets are expecting early gains, while AUDUSD will remain choppy until tomorrow's Reserve Bank decision on rates.
    .
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  • Squawk / Friday at 9:14 GMT
    FX Options Dealer / Saxo Bank
    Denmark
    FX Options - AUDUSD: Big week for AUD coming up with RBA, GDP and Retail Sales data. Fontend volatility is trading at very high level. Market are paying a large premium for AUD puts with expiry between 03 Mar and 06 Mar.
    Read the Squawk
  • Article / Friday at 8:25 GMT

    FX Update: USD bulls take heart

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Update: USD bulls take heart
    The USD reversed back to the strong side yesterday, a critical move in many USD pairs, where the dollar bulls can now take some heart. Today’s closing levels will be an interesting setup for next week’s action and heavy US economic calendar.
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    donal wislow donal wislow
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  • Article / Friday at 6:51 GMT

    Australian Market Wrap: Woolworths rings up a barrel of bad news

    Trading Desk / Saxo Capital Markets
    Australia
    Australian Market Wrap: Woolworths rings up a barrel of bad news
    The market surprised by overcoming early losses to close the day higher by 20 points or 0.34% to 5929. For the week, the index gained 0.80% taking this year's rise to 9.57%. Woolworths was punished on poor earnings results, and finished down more than 9.5%. Meanwhile, since the sharp sell-off in the US trading session, AUDUSD had a relatively quiet day of trading below 0.7800.
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