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ASX 200, Nikkei 225 Rally Taking a Pause Despite Record High in S&P 500
ASX 200, Nikkei 225, S&P 500, ASIA-PACIFIC MARKET OUTLOOK:
The S&P 500 and Nasdaq 100 hit all-time highs as traders cheered about Fed’s dovish stance as well as an impending Covid-relief package
Australia’s ASX 200 index looks set to recede from recent highs but overall trend remains bullish Advertisement
A relentless rally on Wall Street appears to be carrying on, propelled by an impending US fiscal stimulus package and a spending bill that could be passed by this Friday. The S&P 500 and Nasdaq 100 index both hit fresh highs on Thursday, while the Dow Jones Industrial Average closed just marginally below its record. The Federal Reserve has reassured markets its accommodative monetary stance this Wednesday, sending the Greenback to its lowest level seen since April 2018. A weaker US Dollar underpinned a rally in crude oil, iron ore, copper and gold prices, which are particularly favor
Switzer Daily
14 December 2020
This week the Treasurer does
a show-and-tell on the course of the Budget and it’s good news, with the
projected deficit expected to be smaller and our economic growth bigger than
predicted only two months ago.
And Deloitte Access Economics
says the outlook for the jobless looks better than forecasted in the Budget, with
the success in handling the Coronavirus delivering these economic dividends.
But we’re also benefitting (thanks to our ‘buddies in Beijing) with China’s
demand for our iron ore, and market fears that iron ore could face Chinese
trade sanctions. This is pushing iron ore prices to historically high levels of