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Market strolls into positive territory
Market strolls into positive territory
By Niall
King (Sales Trader, CMC Markets)
25 March 2013
As news filters through that we are close to an agreement to avoid Cypriot financial meltdown, the Australian market has grasped the lead given from international peers on Friday and strolled into positive territory in early trade. With many investors returning from the sidelines, initial caution has been cast aside as early gains across all the major sectors continue to accelerate.
The Aussie dollar has also maintained most of its recent fine form, trading comfortably over the $1.0440 mark versus USD. Traders of the Aussie searching for short-term direction will look on with interest over the next day or so with speeches coming from influential Central Bankers, Bernanke of the US Fed and Stevens of the RBA.
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ENDS
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