Wed July 31st 2013 Global Strategy Update (i) US S&P 500 flat 3rd day at 1685 with 1700 key upside & 1680 support. VIX Volatility index 12.8% (ii) US July FOMC statement mostly unchanged. To continue purchasing $85bln/mth of Treasuries & mortgage bonds but (a) noted mortgage rates had increased & (b) To placate Bullard also recognised infln 5060. Banks been very bullish CBA record y/day (iv) Focus today - $A broke below 0.9000 support now 0.8955 2013 lows, China PMIs, Indian Rupee weakness & ECB decision tonight EUR testing 1.3300 - For business strategy solutions please contact [email protected]
Posted on: Wed, 31 Jul 2013 22:08:07 +0000