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

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news