Investors kicked off the trading week on a bearish note as profit taking pressures swept in following the markets’ run-up to all-time-highs last week. The bulls got a whiff of better-than-expected data after ISM nonmanufacturing results came in above last month’s reading, however, hawkish comments from Dallas Fed official Fisher stole the headlines; Fisher reiterated that markets have become too accustomed to the Fed serving as a “lifeline” and that scaling back on bond repurchases should be expected [see Optionable ETFs For Every Investment Objective]. Our chart to watch for the day is the iShares MSCI Australia ETF which will look to resume its rebound following the latest Reserve Bank of Australia interest rate decision. Analysts are largely expecting for the RBA to cut rates to 2.50% from 2.75% currently, although the commentary after the decision itself may spark a different reaction among traders in the currency market. Chart Analysis Consider [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Analyst Notes & Portfolio Review July 31st Edition Australia ETFs In Focus After Rate Decision ETF Insider: Fed Rattles Confidence, Utilities Trade Locks-In Profit ETF Insider: Asia Pacific Country Fund Looks Ripe For Rebound, Gold Offers A Hedge 3 ETFs To Watch This Week: EWA, EU, VXX
Investors kicked off the trading week on a bearish note as profit taking pressures swept in following the markets’ run-up to all-time-highs last week. The bulls got a whiff of better-than-expected data after ISM nonmanufacturing results came in above last month’s reading, however, hawkish comments from Dallas Fed official Fisher stole the headlines; Fisher reiterated that markets have become too accustomed to the Fed serving as a “lifeline” and that scaling back on bond repurchases should be expected [see Optionable ETFs For Every Investment Objective]. Our chart to watch for the day is the iShares MSCI Australia ETF which will look to resume its rebound following the latest Reserve Bank of Australia interest rate decision. Analysts are largely expecting for the RBA to cut rates to 2.50% from 2.75% currently, although the commentary after the decision itself may spark a different reaction among traders in the currency market. Chart Analysis Consider [...]
Click here to read the original article on ETFdb.com.
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