Breaking News

Resistance Looms

By CMC Markets (Ric Spooner)Market OverviewOct 12, 2017 10:24
Resistance Looms
By CMC Markets (Ric Spooner)   |  Oct 12, 2017 10:24
Saved. See Saved Items.
This article has already been saved in your Saved Items

Originally published by CMC Markets

As the S&P/ASX 200 index approaches the top of its trading range, investors will be considering conflicting influences

Bank Of Queensland (AX:BOQ) has kicked off the reporting season with a solid result that should encourage investors in the sector. The result features an improved interest margin, reduced loan impairment expenses and a special dividend.

On the other hand, the major mining stocks continue to face a nervous short term outlook as the spot iron ore price slips into the $50’s with no sign that it’s about to consolidate yet.

The Fed has kicked the can down the road, with the latest minutes indicating it’s likely to lift rates in December but leave a decision on the pace of future tightening until next year. Inflation will clearly be the key issue for the Fed next year. Until core inflation begins to pick up, there is a bias towards the possibility that the Fed Rate will rise more slowly and to a lower neutral rate than current projections imply. However, there are other complicating factors including changes to the FOMC personnel next year and the extent, if any, of government fiscal stimulus.

Traders will have a watching brief on the situation in Spain over coming days. However, consistent with the markets’ recent stance on geopolitical risk, there is unlikely to be any reaction unless the situation escalates.

Resistance Looms

Related Articles

Resistance Looms

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Write your thoughts here
Replace the attached chart with a new chart ?
Post also to:
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email