Indices: Australian ASX 200
The ASX200 commenced the week on the back foot falling -0.45%, erasing the month of Junes small gain in the process, the selling was light but fairly broad-based with less than 20% of the main board managing to rally on Monday. With both the US & UK after-market Futures rallying strongly throughout the day AEST it felt like the local market was being held hostage by the RBA’s interest rate decision at 2.30 pm today – there are mixed…
Over recent weeks the ASX200 has ground slowly but surely higher although this morning we’re likely to see it open back around 7200 – we do remain optimistic over the coming weeks, especially when we consider what’s been thrown at the local index i.e. only correcting ~5% is a great performance. MM sees no fresh reasons either technically or fundamental to anticipate a strong move in either direction…
