Aside from Greece international markets were mixed this week as the European outcome weighs heavily on people’s minds.
The US market similarly to Australia’s market strengthened during the first half of the week only to relinquish most of its gains in the last two days. Positive inflation figures of 0%, which was an increase from the April’s inflationary negative data provides further support for the Fed to raise rates at some stage during the remainder of the year.
Meanwhile China fell back sharply this week and coupled with its performance last week has fallen 12% in the last fortnight. Increased volatility in the Chinese market became even more of an issue this week, as Tuesday witnessed the Shanghai Composite Index shed 4.8% early only to recover in the afternoon in its biggest same day recovery in 8 years.
That’s it for this week. See you in the new financial year!
Have a great weekend.