The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. FED increased interest rates by 0.25%.....DOW down 530 points or 1.63% while GOLD added 1.5% and SILVER put on 2.74%...GIDDY UP!!! Just the price action we want.
2. Vanguard which is the second biggest fund manager in the world behind Blackrock, is pulling out of China....Wonder what's gone down??
3. Vlad wants to do all trade with ASIA, AFRICA and LATIN AMERICA in CHINESE YUAN....These are historic moments.
4. Auto giant, VW is looking to invest in mining companies to secure supplies of key commodities.
5. After the decent price fall, I am upgrading my recommendation on Lynas (LYC) from HOLD to BUY - last sale $6.50.....LYC is a globally significant producer of rare earths - a very unique and strategic company.
ASX Market Update
ASX 200 up 60 points to 7015
Our banks didn't rally hard like their offshore piers as it looks like Aussie investors are not confident that the international banking crisis has magically come to an end. NAB up 0.14%, BEN down 0.3% and ANZ put on 0.44%....The best gains of the day came in energy plays; NHC added another 5% - which represented good continuation buying after its strong update on Tuesday, WDS rallied 5.2% and STO added 3.25%.
When will the precious metals miners wake up and say: "You know what, these mongrel bankers have been having a lend of us".....
The Day Ahead
- Our SPI is down 52 points
- Bitcoin down 3% to $27,393
Movements affecting our resource stocks today (USD)
- BHP in the US down 1.15%
- Gold up 1.5% to $1971
- Paper Silver up 2.83% to $23.06
- Platinum up 1.3% to $989
- Copper up 1% to $4.03
- Brent Crude up 0.64% to $75.80
- Iron ore down 0.3% to $127.13
Asian Market Update
Hong Kong up 1.73%, China added 0.31%, Japan rallied 1.93%
Xi Man is on his way home....This final exchange between the two leaders is historic as the world moves towards a multi polar system....With the USD under an increasing threat, we could easily see Washington lash out like a wounded beast; WW3 has never been closer and the scary part is -
ALBO will send thousands of young Aussies off to their sure death without even flinching.
Xi Jinping: Change is coming that hasn't happened in 100 years. And we are driving this change together.
Putin: I agree.
Xi Jinping: Please, take care, dear friend.
Putin: Have a safe journey! pic.twitter.com/eYdKFkl2PL
— Russians With Attitude (@RWApodcast) March 21, 2023
Global Market Update
DOW down 530 points to 32,030
Market was not overly thrilled with the 0.25% rate hike out of the FED....Interest rates are now the highest since 2007.
Germans up 0.14%, Brits added 0.41% and Frenchies put on 0.26%
STAGFLATION is smashing the average Pom.
Core CPI is total BS....without FOOD and ENERGY we are dead....Don't be one of those people who talks Core CPI because you will look like an absolute privileged twat to anyone paying attention to reality.
Key Market Summary