Press Release (ePRNews.com) - TORONTO - Apr 27, 2016 - Valgard Investments
Australian Market & Economic Update – Preparing for a Rate Hike
The ASX 200 has opened higher today in early trading. Up just under 0.5% the benchmark index is positive ahead of the Australian Bureau of Statistics releases its International Trade Price Index data for Q1 and Banks look to some form of interest rate increase despite the RBA keeping its rates the same.
With its exposure to the finance and mining sectors the ASX 200 has been a bear market these past few months. Investors have seen volatile commodity prices and China’s slowdown have a significant impact on stocks on the ASX with no turnaround seen over the next few months.
Based on the current slow growth in the Asia Pacific region investors are now looking outside of the Australian markets to find value. The ASX is down over 10% over the course of the year whilst the S&P 500 has seen record highs, whilst the AUD has managed to claw back almost 10% of the losses to the USD seen over the last 6mths. This in itself is prompting people who usually only invest in the local markets start to take positions overseas to diversify and balance their portfolios.
ASX 200 Close 27th April 2016:
5,187.70 -32.90 (-0.63%)
ASX 200 Early Morning Level 28th April 2016:
5,223.10 +35.40 (+0.68%)
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