International News (Issue 421) – 14 October 2016
Starting with the second US Presidential debate and the associated trashiness both candidates seem to attract, it would seem infinitely less likely than it has done in several months for Trump to win the presidency.
His comments and behavior this week would surely have alienated much of the female vote.
As controversial as Hillary continues to be, investment markets would be far more enamoured with the prospect of her in the White House than Trump.
Outside of the election coverage, the other main news this week stemmed from the US Federal Reserve, where 3 of the 17 participants supported the idea of immediately raising interest rates.
Most commentators reading of the minuted comments suggest the Federal Reserve are odds-on to raise rates at the December meeting, once the US Presidential race is run and won.
In Asia this week it was notable to see the Chinese currency weaken to a 7-year low against the US-dollar and importantly to levels beyond those seen earlier this year when fears of major capital flight gripped currency markets.
Investment markets seem far more sanguine with the weakness this time since the underlying Chinese economy has performed ‘ok’ through the northern summer, but also because it could be argued much of the weakness is actually attributed to ‘US-dollar strength’ if you will.
|U.S. S&P 500||2133||-28||-1.3%|
This information has been prepared by Primestock Securities Limited ABN 67 089 676 068, AFSL 239180 (“Prime”). Prime accepts no obligation to correct or update the information or opinions in it. This information does not take into account your objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate to your situation. It is recommended that you obtain financial, legal and taxation advice before making any financial investment decision. Prime is bound by the Australian Privacy Principles for the handling of personal information.