Morning Report Tuesday 25 March 2014
The release of poor economic data continues flowing out of China, pointing to a slowdown in GDP growth and a potential failure to meet 2014 government growth targets.
The macro environment looks set for advanced world expansion in 2014-15 (Europe & US) and continued risk to the downside for China and commodity prices. See our Market Matters update - Macro & Australian Market
The above is clearly evidenced in the following, with movement in metals prices for March-to-date as follows: Aluminium -1.8%, Copper -7.8%, Gold -1.3%, Iron Ore -6.8% and Zinc -5.8%.
Two of the largest movers, Copper and Iron Ore have an obvious significant impact on the ASX200. Technically, I remain very bearish Copper & neutral / bearish Iron Ore.
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