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Bright Start Following International Leads

11.20 AEDT, Monday 25 February 2013

Bright Start Following International Leads
By Niall King (Sales Trader, CMC Markets)

In a week where events overseas are likely to impact local sentiment, the Australian market has started brightly with early gains this morning, following Friday's lead from international peers.

Despite finishing last week strongly backed by solid corporate earnings and better than expected business confidence from Germany, markets are likely to tread carefully ahead of Italian election results, US Federal Reserve Chairman Ben Bernanke's testimony before the Senate Banking Committee and the ABS Capital Expenditure data for the December quarter.

The HSBC Flash Manufacturing PMI data for China, due at around 12.45pm should give the local market and the Aussie dollar some direction for the afternoon session. A positive read at or above the expected 52.2 level is likely to add support for the Aussie dollar following gains made during Friday's session.


Web: http://www.cmcmarkets.com/

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The information in this email is of a general nature and does not take into account your objectives, financial situation or needs. Therefore, you should consider the information in light of your objectives, financial situation or needs before making any decision about whether to acquire or continue to hold, the financial products or CFDs. CMC Markets recommends that you should seek independent professional advice. It is important for you to consider the relevant Product Disclosure Statements (PDS), the relevant Financial Services Guides and other CMC Markets documents in deciding whether to acquire, or to continue to hold financial products (including CFDs), which are available from CMC Markets by calling 1300 303 888 or visiting www.cmcmarkets.com.au.

ENDS

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