So often over the last few weeks, we’ve seen most sectors up or most sectors down during a session.
Today, 5 of the 11 major sectors were up, and 6 were down. This lack of decisiveness, the small daily trading range, and general lack of news and moves even at a stock level – speaks of an overwhelming malaise among investors in Aussie stocks.
Possibly, with key commodity prices on the decline, international investors are looking elsewhere. Their selling is possibly too much for the general ebb of demand from local passive super funds.
Or it’s just a case of let’s wait and see.If you thought last week was a big one with respect to major economic data pressure points (Aussie employment, US CPI, and a Fed meeting), this week makes last week look like kindergarten.Today’s malaise might be the norm until we get past three central bank meetings (our own RBA’s […]
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