Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Traders not compelled to take on risk


Traders not compelled to take on risk


By Tim Waterer (Senior Trader, CMC Markets)


Traders are not exactly feeling compelled to take on board risk at the moment given the ominous repercussions of a Fiscal Cliff scenario actually coming to fruition, even though the prevailing hope is that a deal will get done on some shape or form to prevent calamity. Though if history is any guide then this could well be a drawn out process with a conclusion perhaps not reached until the 11th hour. In other words, investors are likely to remain on tenterhooks for some time yet.

While the US Fiscal Cliff discussion is keeping positive sentiment in check, healthier Chinese economic indicators of late have provided a pocket of optimism for investors. Chinese economic health is a prerequisite for global markets to prosper. Whilst the current preoccupation with the Fiscal Cliff is having a stagnating affect on the market, signs of a turnaround in the Chinese economy is not going unnoticed.

The Australian sharemarket was very slow getting out of the blocks today with the ASX200 performance being dreary at best. Investors remain consumed by US Fiscal Cliff consequences, and this is capping market enthusiasm with such a significant obstacle remaining in the path of financial markets. While the ASX200 did recover from the session lows, it did look for the most part that traders were just biding time awaiting further news on the Fiscal Cliff front.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news