Morning All
BHP +0.72%
RIO +1.88%
Money coming out of financial and going into beaten down miners.
ASX goes past 2012 high but can't hold.
ASX is going to need the FTSE to hold it's hand for a new 2012 high and hold.
Correlation between ASX and FTSE is very strong at the moment.
Going to use the FTSE lead for the next day ASX trade this week, current ratio is 1.3, looking to close any variance got out to 17 in todays trade but now back to 3.
As per samirs, China numbers were a shocker.
China exports rise much weaker than expected | Reuters
Most Asian markets up, but not shooting the lights out.
BHP +0.72%
RIO +1.88%
Money coming out of financial and going into beaten down miners.
ASX goes past 2012 high but can't hold.
ASX is going to need the FTSE to hold it's hand for a new 2012 high and hold.
Correlation between ASX and FTSE is very strong at the moment.
Going to use the FTSE lead for the next day ASX trade this week, current ratio is 1.3, looking to close any variance got out to 17 in todays trade but now back to 3.
As per samirs, China numbers were a shocker.
China exports rise much weaker than expected | Reuters
Most Asian markets up, but not shooting the lights out.