Apple was started in a bedroom in Cupertino, California in 1976. There’s hope for us all yet.
So June hasn’t kicked off like we’ve hoped, with the XJO down ~ 150 points over the past two trading days, but it is early on and we keep fighting.
Last night, the AUD/USD rallied 2.23%….
One of the biggest moves we have seen in the past 12 months, as the RBA kept interest rates on hold and a weakness in the USD lifted sentiment…
That’s a big move…
Is there now a change of trend and have we seen a bottom for the AUD?
It will all depend on the US 10 year bond rates… so keep an eye on these…
US stocks eased on Tuesday (Dow down 22 points), as a jump in bond yields hit utilities and other top dividend payers, but energy gains and optimism Greece is near a deal with creditors limited losses.
New orders for US factory goods unexpectedly fell in April as demand for transportation equipment and other goods weakened – the latest data to suggest the economy might not be bouncing back after a first-quarter slump.
Commodities higher with Crude Oil above $60.00, Gold back to $1,193/oz. and the AUD/USD trading at $0.7780.
After seeing such a selloff in the first two days of June, the local ASX200 index is currently looking to re-test support levels around the 5600 level. Unless we see a break of the low made in May of 5574 I think we should look to push higher in the short term from these levels. Buy with a target of 5800. Please contact me to see how you can take advantage of a possible move higher in the index.
LP
Pilkington Trading 