A nice little 1.04% boost for the XJO today after consumer sentiment picked up in the US overnight.
6 month chart still looks OK, if a little winded in the mid-section.
In other news, Barack Obama must have broken some kind of world record for standing ovations at the SOTU address today. Obama is to raise the minimum wage in the US.
Futures markets are pricing in only 1 chance in 20 of Aussie interest rates being cut again on February 4.
And indeed, at this juncture, markets appear to think that there may be no further cuts to come as low rates begin to bite in earnest.
We've already seen an exuberant inflation reading, we just need some decent jobs numbers then the next move could in interest rates could well be up.
Dwelling prices continue to bound along, with January set to record further increases of well over 1% nationwide.