Brexit finds favour with the Foreign Exchange
Published 05-MAR-2019 09:46 A.M.
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Speculation that Britain’s exit from the European Union may be deferred until, say June, is incredible. The politicians have had over two years to sort the exit out and at the time of typing it is still a not a done deal. It does appear to have found favour with the foreign exchange market which has pushed Sterling higher in recent days but I imagine the average man and lady on the High Street must be heartily sick of it all.
When a deal is finally done, it could be festival time, which means a lot of litter on the streets.
As an aside, but speaking of litter, I was driving through Richmond over the weekend it struck me the borough must be having a festival of litter - it was everywhere. Bits of newspaper, brightly coloured paper, crisp packets and other less attractive litter was fluttering in the wind; and to think that elsewhere people simply put rubbish in bins.
It has just ticked over ten years since the ASX200 hit the crisis low close of 3,145 on 6th. March 2009. It has been a long road in between then and now with the market index almost doubling.
Today will be negative following a soft night on Wall Street where the S&P500 and Nasdaq have closed down 0.4% and 0.2% respectively. Index futures are suggesting the ASX200 may drop by 41 points. The Australian Dollar is steady this morning at US$0.7090 and our 10 year bond is at 2.19%.
The Reserve Bank is likely to maintain the interbank rate at 1.5% again today and aside from current account data at 11:30 there is little else to fret about.
Mr Trump is always good for a comment and I noted he has not backed off on his thoughts on the Federal Reserve Chairman’s role in getting the Fed’s monetary policy settings back to “normal”.
Over the weekend he said “We have a gentleman that loves quantitative tightening in the Fed. We have a gentleman that likes a very strong Dollar in the Fed. With all of that, we’re doing great. Can you imagine if we left interest rates where they were?”
Perhaps in his meanderings he might let us know when the next big market downturn will be and how he proposes the Fed, who he will blame, deals with it.
tagsSTOCK MARKET BREXIT ASX200
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.