Daily Market Insights
Global markets started the week on a mixed note overnight. Stocks on Wall Street dipped as a fall in Apple shares offset gains in the energy sector.
Closer to home, the weekend’s positive global investor sentiment wasn’t enough to lift the ASX yesterday, while the NZX was closed for Queens Birthday Holiday. The focus of investors locally will be on the Reserve Bank of Australia’s interest rate announcement this afternoon. We expect no change from the RBA today, although the outlook comments will be key in terms of the expected interest rate track for the remainder of the year.
Oil was in the headlines again as its price continues to swing up & down. Tensions are high in the Middle East as four Arab countries led by Saudi Arabia cut diplomatic ties with Qatar and moved to close off access to the Gulf country, escalating a crisis that started over its relationship with Iran and its support of the Muslim Brotherhood.
Height...
